John Kidd frequently lectures, writes and advises on accounting for financial instruments (including compliance with FAS 133/ AASB 139 and other reporting requirements), managing foreign exchange risk, the audit approach to derivatives and Financial and Operational Risk Management in dealing with derivatives. He heads a specialist IAS 39 group of ten professionals dedicated to assisting companies with their IAS 39 issues.
For the last four years has specialised in financial instruments (AASB 139 and FAS 133) in particular doing implementation and accounting advice.
Clients include: Newcrest, Newmont, BHP, TruEnergy, CLP, AGL, Macquarie Generation, Hydro Tasmania, Intergen, Origin Energy, Woodside, Tap Oil, Oil Search, Air Express, Marubeni Aluminium, and Aurora.
Clients Served
John has managed a number of major assurance projects on companies in the energy and mining sectors being Newcrest, Origin, Japan Australia LNG (MIMI), Sumitomo, Mitsui and Woodside. John has also managed the assurance aspects of audits of the energy trading in AGL and Intergen. Specific commodities involved with hedge accounting to date include; foreign exchange, oil, gas, sugar, Aluminium, electricity, coco, jet fuel and interest rates.
Project assistance in the area of AASB 139 has included; high level impact study, preparation hedge policy and hedge designation templates, identification and analysis of embedded derivatives, and accounting policy position papers.
John has managed the implementation of a fair value valuation package for the Asian Development Bank. This involved the development of a comprehensive valuation package to allow the bank to fair value all financial assets and liabilities, including a number of complex structured transactions.
As partner in charge of The IAS 39 Group and previously Capital Markets in Australia for 7 years he is responsible for a large number of treasury reviews, which include review of policies, risk management procedures, control environment and management reporting. Many of these deal with risk management associated with emerging markets such as electricity. These assignments include: TXU Australia, Normandy Mining, Northern Territory Treasury Corporation, Goodman Fielder and AXA.
Affiliations
Part of the Australian Accounting Standards Board consultative panel on all matters dealing with AASB 139 – current topic covers the area of dealing with the valaution of illiquid instruments. Assists the Finance and Treasury Association re education of members on AASB 139 and AASB 132.
Author of the CPA Financial Risk Management modules on Treasury issues re AASB 139 and the segment on Risk and Control.
Professional Affiliations
Educational Background
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Bachelor of Economics (Hons)
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Registered Company Auditor
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Diploma of Risk Management SIA
