Event Outline:

This in-person workshop, led by industry practitioner Armin Choksey, provides a practical deep-dive into the specialized accounting and reporting requirements for investment funds, including Variable Capital Companies (VCCs). The session is structured around core IFRS standards—such as IAS 32 for debt/equity classification, IFRS 9 for asset classification, IFRS 10 for consolidation, and IFRS 13 for fair value—with a clear focus on their nuanced application to different fund structures like open-ended, closed-ended, and master-feeder arrangements. Participants will also gain essential insights into valuation methodologies and key differences between IFRS and US GAAP relevant to fund reporting.

Through interactive case studies and practitioner-led discussion, the workshop equips accounting and audit professionals with actionable skills to handle real-world challenges. Attendees will learn to apply consolidation exemptions, determine functional currency under IAS 21, and navigate the new presentation and disclosure requirements introduced by IFRS 18. The day is designed to translate complex standards into practical frameworks, enabling professionals to enhance the accuracy and compliance of financial statements for investment entities.

Event Modules:

Module 1: Foundations of Investment Funds

· Basic constructs and salient features.

· Navigating various fund structures: Retail, Alternative, Open/Closed-ended, Master-Feeder, Umbrella.

Module 2: Classifying Fund Instruments (IAS 32 & IFRS 9)

· Debt vs. Equity classification under IAS 32 and its reporting impact.

· IFRS 9: The business model and SPPI tests for asset classification.

· Key Differentiator: Contrasting application for open-ended vs. closed-ended funds.

Module 3: Control, Currency & Presentation (IFRS 10, IAS 21, IFRS 13/7)

· Consolidation concepts under IFRS 10 and key exemptions for funds.

· Determining functional & reporting currency (IAS 21).

· Fair value measurement (IFRS 13) and disclosure essentials (IFRS 7).

Module 4: Valuation in Practice

· The concept of fair value: Accounting vs. IPEV guidelines.

· Practical valuation methodologies (Price of recent investment, Multiples, etc.).

Module 5: Looking Forward - IFRS 18 & Cross-Border Insights

· Introduction to IFRS 18: Key changes and implementation challenges for funds.

· GAAP Comparison: Basic differences between IFRS and US GAAP for fund reporting.

· Interactive Case Studies: Reinforcing concepts across all modules.

Module 6: Synthesis & Q&A

· Facilitated case study review.

· Open-floor Q&A with the practitioner.

Key Takeaways for Attendees

1. Practical Application: Move from theoretical standards to practical, fund-specific accounting treatments.

2. Nuanced Understanding: Grasp the critical differences in how standards apply to open-ended vs. closed-ended funds.

3. Consolidation Clarity: Confidently apply IFRS 10 consolidation principles and identify crucial exemptions.

4. Valuation Framework: Understand the intersection of accounting fair value (IFRS 13) and industry (IPEV) valuation practices.

5. Future-Proof Knowledge: Gain a foundational understanding of the incoming IFRS 18 and its quirks for investment funds.

6. Cross-Border Insight: Learn the basic reporting differences between IFRS and US GAAP relevant to funds.

Who Should Attend?

This practical workshop is designed for mid-to-senior level professionals who engage with the financial reporting of investment funds, including:

· Accounting & Audit Professionals: (Seniors, Managers, Partners) in public practice auditing funds or in-house fund accounting teams.

· Fund Finance & Operations: Controllers, CFOs, and Finance Managers at investment funds (VCCs, Private Equity, Hedge Funds, etc.).

· Company Secretaries & Governance Professionals: Supporting fund entities who need deeper financial reporting insight.

· Legal & Compliance Professionals: In the financial services industry who draft or review fund documents and need to understand financial statement implications.

· Investment Analysts & Advisors: Seeking a stronger grasp of fund reporting to inform due diligence and decision-making.

This workshop qualifies for 7.0 CPE hours in Financial and Sustainability Reporting Standards and Pronouncements (Category 1).