Important New Guidance on Derivative Disclosures
Overview:The Financial Accounting Standards Board has issued new standards to serve as guidelines in improving the reporting process of derivative instruments and hedging activities. This will provide investors a clear view of a company
Who Should Attend:
- Internal Controls/Finance Departments of Hedge Funds and Private Equity Groups
- Global Investment Managers
- Fund Managers
- Tax Managers
- Corporate Senior Management
- Derivatives and Hedge Fund Lawyers
Tracy joined TS after nine years in the Audit practice. She focuses on providing accounting advice under US GAAP and IFRS for structured products and financial instruments, including derivatives. Her work in the area of securitizations, special-purpose entities, and derivatives has included projects supporting investment bankers in developing products, as well as advisory services to issuers and originators. She has over 12 years of experience in providing assurance and consulting-based services to a global client base of financial service providers with an emphasis to the investment banking and commercial banking industry.
Tracy has been identified by the firm to be the IFRS Industry Coordinator for KPMG’s strategic IFRS initiatives.
Tracy has been identified by the firm as a Financial Instruments and Derivatives Resource for KPMG, providing consultation with clients on matters involving financial instruments, hedging and securitizations. She focuses on advisory clients on a variety of US GAAP and IFRS, SEC issues and has assisted on client implementation of FASB Statement 133 and FIN 46R (Consolidation of Variable Interest Entities). She has assisted a major international investment banking organization list on the New York Stock Exchange. In addition, Tracy’s experience with some other smaller US banking clients has given her considerable exposure to dealing with a wide variety of SEC and US GAAP issues. Tracy has along history of managing large project teams, helping to ensure the projects are completed within the deadlines and has led several large global implementation projects of new accounting literature.
Education and Qualifications:
Bachelor of Science degree in Accounting from Lehigh University, Bethlehem, PA; Licensed CPA in New York and Washington, D.C.; Member of AICPA
Financial Services including commercial banks, both international and domestic, and investment banks.
Tracy joined TS after nine years in the Audit practice. She focuses on providing accounting advice under US GAAP and …
Since June 2007, Project Manager at the Financial Accounting Standards Board
Previously, Director in the National Professional Services Group of PricewaterhouseCoopers LLP. Provided consultation to audit practice on accounting questions.
Specializes in accounting for derivative and other financial instruments and foreign currency transactions
Wrote monographs on (1) Guide to Financial Instruments, (2) Implementing FASB Statement 133 on Accounting for Derivative Instruments and Hedging Activities, and (3) Foreign Currency Translation and Hedging
CPA, MBA, CMA
Since June 2007, Project Manager at the Financial Accounting Standards Board Previously, Director in the National Professional Services Group of …
Steve is a Senior Supervisory Financial Analyst for the Federal Reserve Board's Division of Banking Supervision and Regulation. Steve’s responsibilities include monitoring domestic and international proposals, standards, and other developments affecting the banking industry in the areas of accounting, auditing, internal controls, disclosure, and supervisory financial reporting. Steve also provides technical expertise to Federal Reserve Board and Federal Reserve Bank associates on financial accounting and reporting issues and facilitates awareness of existing, new, and proposed accounting and auditing standards.
Steve’s area of specialization is accounting for financial instruments, specifically securitization transactions and derivatives and hedging. He's a frequent speaker at banking industry conferences and is actively involved in the Board's accounting and auditing training program for bank examiners.
Prior to joining the Federal Reserve Board, Steve worked at the Federal Reserve Bank of Chicago as a Risk Specialist focused on accounting risk. Steve’s other experience includes participating in the accounting standard-setting process while working at the Financial Accounting Standards Board (FASB), and managing financial and IT audits while working at Ernst & Young, LLP.
Steve is a Certified Public Accountant and member of the AICPA as well as a Certified Information Systems Auditor and member of ISACA. He has a Bachelor of Science in Business Administration from The Ohio State University, June 1991, and a Master of Public Policy from the University of Chicago, June 2001.
Steve is a Senior Supervisory Financial Analyst for the Federal Reserve Board's Division of Banking Supervision and Regulation. Steve’s responsibilities …
Jeremy Potts has 6 years of experience at Deloitte & Touche, LLP; 3 years spent within the audit profession and, more recently, the last 3 years as part of the Complex Accounting and Valuation group within the Regulatory & Capital Markets Consulting practice.
Jeremy served in the Audit function for three years and his largest client during this time was a community bank, at which he oversaw the bank’s initial Sarbanes-Oxley Section 404 implementation and managed large components of the overall audit engagement. Since joining the Complex Accounting and Valuation and function within Regulatory & Capital Markets Consulting he has since focused significant amounts of his time on securitization transactions; including assisting clients in applying the detailed guidance within SFAS 140 for transfers of financial assets to REMIC and CDO structures and gaining detailed experience reviewing and helping clients implement a principles-based FIN 46(R) modeling and methodology framework. He also has significant experience assisting clients in applying the consolidation provisions of FIN 46(R) and EITF 04-5 to many different forms of entities, both within the financial services sector and outside of it.
At a mortgage banking enterprise, Jeremy worked reviewing the company’s accounting policy surrounding mortgage securitizations and structured transactions. He was a member of a team of Capital Markets professionals that reviewed multiple securitization transactions executed by the company for compliance with the QSPE requirements of SFAS 140 and whether such entities should be consolidated under the guidance in FIN 46(R).
Jeremy has worked with and assisted in formulating and drafting numerous principle-based accounting policies; such as the implementation of SFAS 155, SFAS 156, and SFAS 157, interest income and impairment recognition under EITF 99-20, detailed guidance on the accounting for Loans and the Allowance for Loan Losses, accounting for guarantees, and a policy on accounting for securities commitments. As one of the firm’s designated subject matter expert in Financial Instruments and Valuation, Jeremy also has significant experience in identifying and accounting for embedded as well as freestanding derivatives, and various hedging strategies under SFAS 133.
Education: B.S., Accounting, (University of Oregon); M.S., Accounting (University of Oregon)
Jeremy Potts has 6 years of experience at Deloitte & Touche, LLP; 3 years spent within the audit profession and, …
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