GRAP Financial Statements: Enhancing Quality Through Review

26 - 27 February 2018

This course is designed to equip participants to review financial statements prepared in accordance with Standards of GRAP (AFS). It will provide participants with the practical skills required to critically evaluate AFS for GRAP compliance in order to improve technical quality. The course is focussed on refreshing participants’ knowledge of the presentation and disclosure requirements of the Standards of GRAP, as well as detailing any new presentation and disclosure requirements that will become effective in the current financial year or that became effective in the prior financial year. The course will also provide a more detailed focus on common areas for disclosure improvement. The course consists of an inter-active case-study that will teach participants what to look out for when reviewing Annual Financial Statements.

Course outline

At the core of this course is practicality, relevance and

interactive participation. To ensure that sufficient focus

is placed on the practical application of GRAP, the course will consist of the

following elements:

A concise review of the key requirements of the relevant GRAP standards.

An overarching case study focussed on the presentation and disclosure of financial information in the annual financial statements. This case study will provide participants with an understanding of how all the GRAP standards link together and how the different elements and disclosures required by individual GRAP standards interlink in the financial statements.

GRAP reporting

requirements

Format and content of the financial

statements

Key financial statement

presentation and disclosure issues to

look out for

Key new / recently introduced disclosures

Practical application of the GRAP disclosure

and presentation requirements when reviewing financial

statements

Real-time polling of the audience to assess the degree of understanding on topics covered and key concepts. This will enable the facilitators to respond immediately with further clarifications, if needed, to ensure effective learning.

Learning Outcomes

Topics CoveredOverview of the requirements of the most commonly applicable GRAP standards at municipalities and public entities

Focus on new / recent presentation and disclosure requirements

Detailed AFS review case-study

Presenters

Alexi Colyvas Alexi is an Executive Director at EY and leads the firm’s Public Sector Technical team, focusing on Accounting, Auditing, Governance and Public Financial Management. He is a CA(SA) with an MCom in Accounting Sciences, and more than 12 years in Public Sector consulting and auditing. He has facilitated numerous training sessions for government on topics ranging from accounting, auditing, legislative compliance and governance, to strategic planning and reporting. Alexi has led several research and development projects and capacity building interventions on behalf of the Office of the Accountant-General (National Treasury), the East and Southern African Association of Accountants-General, the AGSA, and the Accounting Standards Board.

Willem Smit Willem is an Associate Director at EY and is a specialist in the firm’s Public Sector Technical team, focusing on Public Financial Management (accounting, governance and legislative compliance). Willem is a preferred recognised mSCOA trainer and is a CA(SA) with over 10 years’ experience in Public Sector training, consulting and auditing. He has advised numerous entities in all spheres of government in relation to the application of GRAP, Modified Cash Standards, Municipal Finance Management Act (including related regulations) and the Public Finance Management Act (including related regulations, practice notes and instruction notes) throughout their operations.

Rozanne D’Alessandro Rozanne is a Senior Manager at EY and is part of the firm’s Public Sector Technical team. She is experienced in providing technical accounting advice and training on Generally Recognised Accounting Practice (GRAP), IFRS and International Public Sector Accounting Standards (IPSAS). Rozanne is also an active contributing member of the project groups of the Accounting Standards Board (ASB). Rozanne is an experienced GRAP quality reviewer and specialises in supporting clients to improve the quality of their financial statements.

Warren Linden Warren is a Senior Manager at EY and part of the firm’s Public Sector Technical team. He has extensive experience in accounting, auditing and risk management in the Government and Public Sector. Warren provides technical support to clients and engagement teams on application of GRAP, International Standards of Auditing, AGSA methodology and United States Government Auditing Standards. He is also a contributing member to several project groups of the ASB and the Institute of Director of South Africa (IoDSA).

Who should attend

Cost and dates

Verifiable CPD

Registration

The course is aimed at individuals involved with the quality review of the annual financial statements of public entities or municipalities (for example National and Provincial Treasury officials and internal and external auditors). It would also be relevant for preparers of GRAP financial statements wishing to improve on the quality of their presentation and disclosures. The course assumes a basic-to-moderate practical knowledge of GRAP and as such will be more focussed on the practical application of the GRAP presentation and disclosure requirements.

A certificate of attendance will be issued after completion of the training. This training constitutes 12 hours for CPD purposes.

To register, please send an e-mail to Rozanne.dalessandro@za.ey.com, copying Nabeela.imamshah@za.ey.com to obtain an application form and submit your completed application form to the same e-mail addresses. Please use the following subject line in your e-mail: GRAP Financial Statements Training. Should you have any questions or require additional information, please send an e-mail to the above e-mail addresses or you can contact Rozanne D’Alessandro on (011) 772 5080 or 082 937 9911.

Terms and Conditions and minimum attendance thresholds apply, please refer to the application form for more details.

The 2-day course will be presented on 26 – 27 February 2018 at 102 Rivonia Road, Sandton, Gauteng.

The all-inclusive cost for the 2 day training event is R4,560 (VAT inclusive), which includes the training material and a light lunch / refreshments.