Publications : Online Learning

Mine closure accounting and provisioning

Online Learning
Published in 2018

Mark NoppePresenters: Tracey Waring is EY’s dedicated Global Mining & Metals IFRS leader and is also lead IFRS partner on a range of ASX top 100 listed audit clients. She has over 20 years of experience in the provision of assurance and financial accounting advisory services to a wide range of clients. Two of these years were spent working at EY’s global headquarters in London. She has advised numerous clients in the extractives and other industries on the interpretation and application of financial accounting and reporting principles to major transactions and operations – including BHP Billiton, Newcrest and Rio Tinto.
 
Tim Routley is a Director in the Health Safety Environment team of the Climate Change and Sustainability Services Group, based in Melbourne office. He has more than 26 years of professional experience in the fields of environmental, process and chemical engineering. He has previously worked with URS Australia Pty Ltd, and prior to that as a process engineer at Brown Coal Liquefaction (Victoria) Pty Limited in Morwell, a large scale Japanese/Australian Pilot Plant for the conversion of brown coal to oil.


This webinar will provide an:
• Overview of the key IFRS accounting considerations associated with provisioning for mine closure and reclamation, including in relation to:
 - Understanding and interpretation of key accounting principles for the recognition of a provision
 - Legal and constructive obligations
 - Discount rates
 - Recognition of project contingencies and risk event costs
 - Operational versus closure/reclamation costs
• High level overview of some of the key related differences between IFRS and US GAAP
• Overview of common differences in approach to calculation of provisions
• Overview of the key issues identified in audit of mine closure provisions

Duration: 1:00.32

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