KPMG to host the 2013 IFRS, Tax and Business Seminar

Published: 19 September 2013

KPMG Chartered Accountants Zimbabwe (KPMG) will be hosting its IFRS and Business seminar on 20 September 2013.

The seminar is an annual event and has been running for the past 8 years. It provides a platform where KPMG and business participants meet to discuss topical issues related to financial reporting, the regulatory environment and matters affecting businesses in Zimbabwe.

This year, KPMG, supported by regulators and economic and industry experts, will discuss new accounting standards, revisions to the Zimbabwe Stock Exchange Listing requirements, key tax issues as well as the latest global and local economic trends.

KPMG professionals, who make contributions to the International Accounting Standards Board, will help the delegates to cut through the complex new accounting standards that are effective for annual periods commencing on 1 January 2013 that companies will need to comply with when preparing their year-end financial statements. The seminar is therefore strategically placed to provide that 'heads up' on areas which may appear daunting to financial statement preparers.

Some of the topical standards impact the preparation of consolidated financial statements and determination of fair values for financial reporting purposes. In light of the revised listing requirements that are imminent, the Chief Executive Officer of the Zimbabwe Stock Exchange will present the key highlights on what the financial statement prepares should expect. Therefore, post attending the seminar; delegates will be well equipped to prepare relevant financial statements which comply with International Financial Reporting Standards and regulatory requirements.

Over the past decade, economic trends in Zimbabwe have been crucial to business operations. Without an understanding of the economic outlook, making sound business decisions is likely to be difficult. Giving due cognisance to this, the KPMG IFRS and Business Seminar will feature an update on the global economic trends and Zimbabwe's economic outlook. This discussion will be lead by an economist from the World Bank with specialist knowledge on the Zimbabwean economy and will provide a forum to share ideas on issues that need to be implemented in the national policy to promote economic growth.

KPMG tax experts will address the highlights of the new Income Tax Bill and transfer pricing which is receiving increasing attention from the Zimbabwe Revenue Authority (ZIMRA). The seminar will be graced by ZIMRA officials to address specific technical matters.

Presenters include Heather de Jonge an Associate Director with the Department of Professional Practice in the KPMG South Africa office. Heather is a Chartered Accountant and is a specialist in the interpretation of accounting standards. Tendai Masanzu, also a chartered accountant with 10 years of audit, accounting, corporate finance and transaction services experience will be at hand to assist with the IFRS related sessions.

Also on the panel is Dr Seedwell Hove who is presently the country economist for Zimbabwe at the World Bank's Zimbabwe office. Seedwell holds a PhD in economics and has over 10 years experience in the analysis of local and global economic trends.

The Chief Executive Officer of the Zimbabwe Stock Exchange-Alban Chirume will present an overview of the imminent changes to listing requirements. Alban was the inaugural Chief Executive Officer of the Securities Commission and played a major role in the development of the regulatory framework and the amendment of the Securities Act (Chapter 24:25) as well as the development of enabling Statutory Instruments. Steve Matoushaya-the tax director at KPMG will be at hand to facilitate the tax discussion. He is currently a tax specialist member of the Tax Reform Steering Committee working on the revision of the Zimbabwe Income Tax Act and other legislation.

Through this seminar, KPMG gives its clients a unique opportunity to interact with representatives of regulatory bodies in a neutral environment and consequently be in a position to unlock value in an evolving business environment.

The KPMG IFRS and Business Seminar will be held at Cresta Sango Conference Centre. The investment is US$190 per delegate, with a 5% discount for corporates with five or more delegates. For further information please contact Isabel Macaullay on 04-303700 or via email on imacaullay@kpmg.com.
- kpmg