Attendees will gain an understanding on how to implement and apply the new standards and amendments that affect them in the preparation of their financial statements.

High-level understanding of the requirements of the GRAP framework and relevant Directives o GRAP guidance and assistance from ASB and National Treasury o Directive 5 New standards issued and effective o Amendments effective for 2017 on GRAP 16 and 17 o Directive 11 Changes in the measurement bases following the initial adoption of the standards of GRAP o GRAP 105 Transfer of functions between entities under common control o GRAP 106 Transfer of functions between entities not under common control o GRAP 107 Mergers New standards issued, but not yet effective o GRAP 32 Service concession arrangements: Grantor o iGRAP 17 Service concession arrangement where a grantor controls a significant residual interest in an asset o GRAP 20 Related party disclosures o GRAP 108 Statutory receivables o GRAP 109 Accounting for principals and agents In the pipeline at the Accounting Standards Board (ASB) o Accounting standards effective or to be used to form an accounting policy for 2017 and 2018 year-ends o Directive 12 The selection of an appropriate reporting framework by public entities Minor improvements affecting GRAP standards o FAQ updates treatment of fully depreciated assets as an error or change in estimate

Public sector finance officials Financial managers and CFOs responsible and accountable for preparation of the annual financial statements CPD attendees

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