PERC Reporting Code 2008 Finex 2008 22 nd September 2008 www.percreserves.com PERC 200824 November 20151.

Slides:

Advertisements

Similar presentations

Role , Responsibility and achievements of SARI 145 Working Group

Advertisements

EPAA Conference 5 November 2007 Georgette LALIS Enterprise and Industry DG European Commission The international dimension of regulatory acceptance.

A DTCCThomson Reuters Company Omgeo Industry Relations Briefing on T+2 in Europe Thomas Trepanier Director of Relationship Management Americas Region.

Prepared by Thierry Verkest and Jacqueline Lamont Presentation to RESAVER Consortium Technical support for the setting up of RESAVER Summary of support.

Peer Reviews and new Compendium on CSR Presentation to HLG meeting 20 December 2013, Brussels.

International Federation of Accountants International Education Standards for Professional Accountants Mark Allison, Executive Director Institute of Chartered.

The streamlined legal framework for looked after children Implementation of Care Planning and placements regulations and guidance November 2010.

Regulatory and Legislative Contexts Chapter 1. Financial Information Analysis2 Copyright 2006 John Wiley & Sons Ltd Background Importance of accounting.

Update on GSE Activities Klaus-Dieter Barbknecht GSE President GIE General Assembly Madrid 21 November 2007.

“The preparation of annual financial reports in a single electronic reporting format will be mandatory as from January 1, 2020” XBRL Europe Working Group:

The views expressed in this presentation are those of the presenter, not necessarily those of the IASB or IFRS Foundation. International Financial Reporting.

Certificate for Introduction to Securities & Investment (Cert.ISI) Unit 1 Lesson 25:  Main requirements for listing on the London Stock Exchange  The.

Internal Auditing and Outsourcing

Due Diligence - The Regulator’s Perspective ABA Telephone/Webcast Briefing August 14, 2001 Cynthia Bonnette, Assistant Director FDIC Bank Technology Group.

Sustainable Construction Strategy Tony Iles. Strategy Aims Raised significant expectations: –“step change in the sustainability” …. “drive continuous.

Overview of the SPC-EU EDF10 Deep Sea Minerals Project Kiribati DSM Project National Workshop Tarawa, Kiribati 19 th September 2011 Akuila Tawake SPC/SOPAC.

1 Horses for Courses: CRIRSCO Template and UN Framework Classification Ruth Allington* and Stephen Henley** *President, European Federation of Geologists.

4th Meeting of the UNSD Oslo City Group on Energy Statistics, Ottawa, 2-6 February 2009 George Kowalski Former Director, Sustainable Energy Division, UNECE.

1 THE THIRD ENERGY PACKAGE – THE ENERGY COMMUNITY APPROACH Energy Community Secretariat 20 th Forum of the Croatian Energy Association and WEC National.

Natural Resources Reporting Workshop Dublin Castle, May 15, 2009

WORLD BANK conference - 8 November 2005 Advanced Program in Accounting and Auditing Regulation CESR An Introduction Michel Colinet Director for Financial.

Dudley CCG Constitution It is the members document (referred to as the group) Sets out how the group will discharge their collective responsibilities as.

1 The Auditor of the Future The Harmonisation of the Profession in the EU Estoril, 26 October 2006 Prof.Henri Olivier FEE Secretary General Ordem dos Revisores.

Using the UNFC-2009 to classify Renewable Energy Resources ABLC 2014 Washington, D.C. Raffaella Cristanetti DuPont Industrial Biosciences.

The Role of the London Stock Exchange & UKLA in the IPO process.

Reformed Partnership and Multi-Level Governance Ana Maria Dobre Political Administrator General Council Secretariat

Joanna Fiedler Enlargement and Neighbouring Countries Unit DG Environment European Commission REReP → RENA Vision of the European Commission PEIP Regional.

Regulatory requirements in the current programming period Funchal, 18 November 2010.

Revise Lecture 1 1. Framework of Financial Reporting 1. The regulatory system 2. A conceptual framework 2.

1 FUTURE STESEG WORK - CURRENT AND NEW PROJECTS - FUTURE STESEG WORK - CURRENT AND NEW PROJECTS - SHORT-TERM ECONOMIC STATISTICS EXPERT GROUP (STESEG)

Presentation to the Portfolio Committee on Water and Environmental Affairs National Environmental Management Laws Amendment Bill.

Technical Reports Who needs them? FINEX ‘10 Exploration meets the City.

1 OIE Global Conference on Veterinary Education and the role of Veterinary Statutory Body 4 – 6 December 2013 Foz do Iguazu (Brazil)

PERC Reporting Code 2008 Resource Reporting Workshop 15 th May 2009 Dublin Dr Wynand Kleingeld PERC October

Development through partnership cidb Presentation to the: Parliamentary Portfolio Committee of Public Works on the: Competition Commission - construction.

“Financial reporting plays a critical role in establishing and maintaining the confidence of the investing public. The objective of financial reporting.

Gas Regional Initiative Region North-West Transparency Project Nicola Meheran, Ofgem.

CHAPTER THREE THE NATIONAL AND GLOBAL CONTEXT. Objectives of this chapter Explore the role of the government as an employer Examine the impact of the.

| 1 European Maritime Day 2010 Gijon Workshop 2.9 Shipping in the Common European Maritime Space Gijón, 21 May 2010 European maritime transport space without.

PAC AND ITS ACTIVITIES ITU-UNIDO Regional Forum on Sustainable Conformity Assessment Yangon, Myanmar, November 2013 Venkat Balakrishnan PAC Vice.

Proposed ASB Actuarial Standard of Practice on Statements of Actuarial Opinion Regarding Property/Casualty Loss and Loss Adjustment Expense Reserves Status.

Regional Initiative Progress and Next Steps Graeme Steele.

Aim: “to support the enhancement and implementation of the standards needed for the modernisation of statistical production and services”

Progress Report Performance Audit Subcommittee - PAS INTOSAI Governing Board meeting Mexico City, November 2 and 3, 2006.

The Cool North  The Northern Periphery and Arctic Programme aims to expand regions’ horizons, building on concrete outcomes and enabling the.

1 International Education Standards for Professional Accountants Mark Allison, Executive Director Institute of Chartered Accountants of Scotland and Technical.

The Joint ECE-Eurostat programme on the new recommendations for the 2010 round of Population and Housing Censuses in the ECE region Joint ECE-Eurostat.

PETH Revision Questions On Governing Bodies.

United Nations Framework Classification (UNFC) and its Application to Minerals Presented by Charlotte Griffiths (UNECE) and John Barry (Rathdowney Resources.

Internal Audit Quality Assessment Guide

MINERALISATION BEYOND INFERRED RESOURCES SAMREC/SAMVAL COMPANION VOLUME CONFERENCE Roger Dixon South African Representative, CRIRSCO May17, 2016.

Designing Identity Federation Policy, the right way Marina Vermezović, Academic Network of Serbia TNC2013 conference 4 May 2013.

Qualifications Wales Update. -To ensure that qualifications and the qualification system in Wales are effective for meeting the reasonable needs of learners.

AAT Level 3 Diploma Professional Ethics. Aims Outline the relevant legal, regulatory and ethical requirements affecting the accounting and finance sector.

Introduction to CRIRSCO

South African Representative, CRIRSCO

Kazakhstan Experience In introduction of the CRIRSCO standards

Principles of and requirements for public reporting of mining companies by securities regulators with the Australian example of JORC, ASIC and ASX. Ian.

The role of Recognized Professional Organizations (RPO) in the development and implementation of Public Reporting Standards – the PERC example Eddie Bailey,

The European Federation of Geologists (EFG) and PERC Standards

Current status of Shift2Rail

Consultation on the Finance Sector Supplement to the Natural Capital Protocol This project has been made possible by generous funding and support from.

An overview of the CRIRSCO International Reporting Template

Consultation on the Finance Sector Supplement to the Natural Capital Protocol This project has been made possible by generous funding and support from.

Grid Code Development Forum – 6 September 2017

South African Representative, CRIRSCO

SOCIAL DIALOGUE WITHIN EUPAN

Culture Statistics: policy needs

SOCIAL DIALOGUE WITHIN THE SCOPE OF EUPAN

Committee of European Securities Regulators

Presentation transcript:

PERC Reporting Code 2008 Finex nd September PERC November 20151

Why have a reporting code ? Consistency – for investment decisions Reliability – “competent persons” Regulation of companies and markets (especially after Bre-X) Protection against litigation Ease of communication: a common language 24 November 2015PERC 20082

Reserves Reporting Codes in UK and western Europe 1991: the IMM code, defined: – Proven & probable reserves – Measured & indicated resources – The Competent Person 2001: “The Reporting Code” – Update for international convergence – Under the aegis of IMM, but co-sponsored by EFG, the Geological Society, and IGI 24 November 2015PERC 20083

Why update the Code ? In response to increased globalisation In support of regulatory requirements, regionally and worldwide To meet needs of particular industry sectors To maintain a European reporting code for use in European markets 24 November 2015PERC 20084

PERC: the Pan-European Reserves & Resources Reporting Committee Committee convened in 2006 as the successor to the former IMM Reserves Committee Continued formal involvement of IOM3, EFG, IGI, and GSL IOM3 now involved through IMMa Scope explicitly broadened to cover Europe, not just UK Principal tasks: to maintain and update minerals reporting code for European markets 24 November 2015PERC 20085

PERC Membership Representatives of – (1) the four sponsoring organisations – (2) CRIRSCO – (3) key mining industry sectors – (4) consultants – (5) the financial community 24 November 2015PERC 20086

Structure of PERC Sub-committees: – London Financial sub-committee (as a model for further similar sub-committees elsewhere) – Industrial Minerals sub-committee – Diamonds/Gemstones sub-committee Working group: – PERC manages the CRIRSCO-GKZ working group on harmonisation of international and Russian reporting systems 24 November 2015PERC 20087

The PERC Code 2008 An update of the 2001 Reporting Code Progressive convergence with international standards as defined in the CRIRSCO code “template” Incorporating regional industry interests and requirements 24 November 2015PERC 20088

Solid minerals: resources and reserves 24 November 2015PERC 20089

PERC Code 2008: key changes Competent Person definition. A tighter definition but without using a ROPO list New section for historical estimates Revised and expanded industrial minerals / dimension stone / aggregates section Expanded diamonds section New section for coloured gemstones Appendix 4 competent person consent form added 24 November 2015PERC

Relationships among PERC, the professions, and regulatory organisations 24 November 2015PERC

What happens next ? Exposure Draft launched – 17 June 2008 Consultation among other CRIRSCO members, and the mining and financial communities Consultation stage: ends 17 Oct 2008 Finalisation of Code with agreed amendments Code release: 17 Dec 2008 Recognition by UK LSE / Listing Authority (UKLA) and by AIM, and progressively by other European stock exchanges 24 November 2015PERC