Registration Time: 09:00
Sessions Time: 09:15 - 12:30  including a 15-minute break
Speakers: Ms Oriana Abela & Mrs Lara Borg
Venue:   Online Webinar

Participation Fees (The Institute is now accepting payments via Paypal)
MIA Members: €40.00
Non-MIA Members: €75.00
Retired Members: €20.00
Students: €30.00

*Group bookings for 3 or more participants available.

BACKGROUND INFORMATION

This training session aims to provide an update on the recent changes in IFRSs particularly the amendments to IFRS 7, IAS 7 and IFRS 18.
There are significant amendments to IFRS 7 and IAS 7. These address financial instruments disclosures which are effective for annual reporting periods beginning on or after 1st January 2026. These amendments aim to enhance transparency regarding the classification and measurement of financial instruments, particularly those with environmental, social, and governance (ESG)-linked features. Similarly, updates to IAS 7, which pertains to the statement of cash flows will also take effect from 1 January 2026. These changes focus on improving the clarity of cash flow reporting, especially in relation to supplier finance arrangements.
Additionally, IFRS 18, a new standard that replaces IAS 1, Presentation of Financial Statements, was issued on 9th April 2024 and will be effective for annual reporting periods starting on or after 1st January 2027. IFRS 18 introduces substantial changes to presentation and disclosure requirements in financial statements, enhancing the overall clarity of financial performance reporting.

SPECIFIC TOPICS TO BE COVERED DURING THE SESSION

1.Introduction
·Overview of the session objectives
2.IFRS 7: Financial Instruments: Disclosures
·Summary of recent amendments
                                                 i.     Key changes related to classification and measurement of                                                                       financial instruments                                               

                                                             ii.     Implications for disclosures regarding ESG-linked financial assets
·Discussion on enhanced transparency requirements
·Impact on financial statement users and preparers
·Examples
3.IAS 7: Statement of Cash Flows
·Overview of amendments to IAS 7
                                                    i.     Changes in cash flow reporting requirements
                                                   ii.     Clarifications on supplier finance arrangements
·Importance of cash flow statements in assessing liquidity and solvency
·Transition requirements and retrospective application
·Examples
4.Supplier Finance Arrangements
·Definition and overview of supplier finance arrangements (supply chain finance)
·Structure and mechanics of how these arrangements work
                                                    i.     Role of the financial intermediary
                                                   ii.     Process from invoice issuance to payment
·Benefits for suppliers and buyers
                                                    i.     Improved cash flow for suppliers
                                                   ii.     Extended payment terms for buyers
·Disclosure requirements under IFRS 7 and IAS 7
                                                    i.     Information entities must provide about these arrangements
·Accounting considerations and potential risks associated with supplier finance arrangements
5.IFRS 18: Presentation and Disclosure in Financial Statements
·Introduction to IFRS 18 and its objectives
                                                    i.     Replacement of IAS 1 with a focus on improving comparability and transparency
·Key features of IFRS 18
                                                    i.     Defined structure for the statement of profit or loss
1.Categories: operating, investing, financing, income taxes, and discontinued operations
2.Required subtotals: operating profit or loss, profit or loss before financing and income taxes
                                                   ii.     Enhanced guidance on aggregation and disaggregation principles
·Management-defined Performance Measures (MPMs)
                                                    i.     Definition and importance in financial reporting
                                                   ii.     Disclosure requirements for MPMs to enhance transparency
·Examples
6.Impact on Financial Statements
·How these changes affect the presentation of primary financial statements?
·Comparative information requirements under IFRS 18
·Discussion on operational changes needed for compliance
7.Transition and Implementation Considerations
·Effective dates for IFRS updates (IAS 7 and IFRS 7 effective from January 2026; IFRS 18 effective from January 2027)
·Strategies for entities to prepare for the transition
·Challenges anticipated during implementation
8.Q&A Session
·Questions from participants
·Discussion of specific concerns or scenarios related to the new standards
9.Conclusion

Why is the session of relevance to our members?

The members and non-members of the Malta Institute of Accountants (MIA) play a leading role in businesses across Malta and are key players in the financial market, as they navigate the complexities of financial reporting and investment decisions, it is crucial to stay informed about the latest developments in accounting standards.
This is important because the standards are constantly evolving in response to changing economic conditions, technological advancements, and global market dynamics, which means that professionals must keep up to date in order to ensure compliance and maintain accurate financial reporting. Furthermore, by understanding the most recent amendments, accountants can provide reliable and trustworthy financial data to stakeholders, thereby upholding legal and ethical standards whilst fostering long-term sustainability and trust. Additionally, being knowledgeable about current regulations helps identify gaps or non-compliance in financial reporting and internal controls, allowing for timely rectifications. Moreover, this awareness not only enhances the effectiveness of audits but also equips professionals to offer valuable insights and recommendations to management and clients, ultimately contributing to better decision making and risk management. Furthermore, as accounting standards become more essential for navigating these changes effectively.
Overall, staying updated on accounting standards is vital for ensuring financial integrity, promoting transparency, and maintaining a competitive edge in the industry.

Target Audience

This course is specifically targeted to accounting professionals and students, especially those who are pursuing or intend to pursue a career in audit or financial reporting.

Speakers's Profiles

Oriana is a Partner at Grant Thornton engaged in the Transaction Advisory Services (TAS), a department specialising in corporate finance. She holds an honours degree in Accountancy from the University of Malta and is also ACCA qualified. In 2013, Oriana graduated from the University of Wales with a distinction obtaining a Master in Finance, specialising in Mergers and Acquisitions.
Oriana specialises in the capital markets division, whereby she assists clients with the raising of debt (traditional and green) and equity finance through the local capital market. She has listed clients on the main market, Prospects MTF as well as the Institutional Financial Securities Market. Oriana also heads the local and cross-border vendor and buy-side due diligence assignments for clients operating in various sectors such as retail, manufacturing, banking, aviation, pharmaceutical and real estate. She has an accumulated wealth of experience assisting both local and international clients operating across various industries through the delivery of valuations, mergers and acquisitions, due diligences, business plans, restructuring, financial projections and pension provision.
Prior to joining Grant Thornton in 2015, Oriana worked at two leading Big 4 companies in Malta, whereby she was involved in a variety of corporate finance engagements, servicing clients mainly in the real estate, telecommunications, utility, retail, gaming, insurance and beverage industry, both in the private and public sector in relation to a number of different assignments including but not limited to buy-side and vendor cross-border due diligence assignments, purchase price allocation assignments, raising of finance on the stock market, feasibility studies/financial projections, debt restructuring, strategic review, valuations of business and equity share capital, impairment review of investment properties and review of the pension provision and assistance with any necessary settlement offers.

Esmeralda is an assistant manager at Grant Thornton engaged in the Transactions Advisory Services. She is ACCA certified and also completed the Advanced Valuation Certificate Course from New York University, Leonard N.Stern School of Business taught by Professor Aswath Damodaran, obtaining a High Honours. Esmeralda specializes in valuations, financial planning and analysis, financial due diligences and financial modelling and has, over her eight year career with Grant Thornton been involved in a number of projects across various industries.
Furthermore, she was also involved in financial and economic consultancy services for various local and foreign clients, and was also seconded to a leading bank in Malta for two and a half years, where she occupied the position of a financial analyst within the corporate team. Her duties included preparation of financial analysis of corporate customers, analysing new projects and assisting relationship mangers in assessing the feasibility and valuations of highly leveraged projects. Esmeralda is also an affiliate member of the Malta Institute of Accountants.

Lara, a University of Malta graduate, joined Grant Thornton back in July 2016 on a part time basis, through the University internship program. In partial fulfilment of the requirements of the Masters in Accounts, Lara submitted a dissertation entitled: ‘The management of family wealth across generations in Malta’, which was awarded the best dissertation in an area related to financial management. She also completed with Honours an Advanced Valuation Certificate Course from New York University, Leonard N.Stern School of Business taught by Professor Aswath Damodaran.
Ensuing her graduation, Lara joined the Financial Advisory Team on a full-time basis in July 2021. Her focus is predominantly on finance and tax due diligences, valuations, bank loan applications, credit file reviews, information memorandums, debt restructuring and financial modelling. Her industry experience includes real estate, elderly care home operations, consumer retail, hospitality and leisure, and non-profit organizations, among others.

EVeNT CPE COMPETENCies

3  Core

WEBINARS TERMS AND CONDITIONS

Terms and conditions  apply

DISCLAIMER

By Registering and/or Booking for this event, you agree that MIA will collect your information which will be using it in accordance with its Privacy Notice available at the following link.

Please note that all webinars are recorded by the MIA. Such recordings will be retained by the MIA for internal use.