APV Innovations in Finance - Perth

APV was honoured to speak at the NSW Local Government Innovations and Business Excellence conference held in Sydney in November. It truly was wonderful to see the great work being done across local government.

However, one of the common themes that came across throughout the various presentations related to the barriers within local government that can inhibit innovation. Local Governments generally promotes innovation and genuinely wants to improve business through the adoption of new ideas and approaches. Despite this many cultural and other barriers can create significant challenges – especially within a conservative risk-adverse culture commonly experienced in local government.

To help finance professionals become the hub of innovation within local government we have decided to change the format and content of our annual APV workshops for 2018. While there will still be significant technical content relating to the many changes in the accounting standards about to impact local government the majority of the workshops will be devoted to innovation. Specifically, it will focus on –

• the changing environment and challenges and faced by finance professionals and asset accountants in local government

• discussion on innovations and opportunities such as disruptive technologies

• developing strategies (using a case study) to help get innovative ideas approved

The technical aspects of the workshops will include –

• Update on the AASB special project on ‘Fair Value in the Public Sector’

o David Edgerton from APV is a member of this small team of experts

o Will include discussion on the key issues being discussed by the project team

o These include a range of contentious issues which have led to inconsistency across jurisdictions and auditors

• Update on new and changed standards including –

o AASB136 (new changes for 2017-18 onwards)

o AASB16 (new leasing standard)

o AASB1059 (Service Concession Arrangements)