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EDUCATION AND EVENTS

NEWS and INSIGHTS

Interview with a Treasurer

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10 MINUTES WITH JOHN MESSENT CFTP
Group Treasurer
Australian Gas Networks
Please tell us a bit about yourself

I have been in my current role for 18 months and have previously worked with a number of organisations, including Ernst & Young, ANZ and Peoples’ Choice Credit Union.  Whilst my core background has been through treasury and finance related functions, I have also had responsibility for credit risk, business risk and operational delivery teams. 

Finance News

stephen-cunico

WOE is XVA? 

If you’re wondering what the title means, it stands for “What on Earth is X Valuation Adjustments”?  This month Colin Sharpe from NAB presented to the technical committee on the rapidly changing world of derivative valuations and pricing.  The reason for the “X” in XVA, is because there are now so many valuation adjustments for uncollateralised derivative transactions, that the acronym simply has an X as a placeholder for the numerous adjustments that are now applied by banks when pricing derivatives.

Technical Insights

What’s going on with WACC rates in Australia?

The technical committee discussed the topic of Weighted Average Cost of Capital (WACC) given that we are in the middle of year end reporting, and WACC is a critical input into performing asset impairment tests.  The general discussion acknowledged that there seems to be at times a disconnect between WACC rates used for investment and business valuation purposes versus WACC rates used by accountants and auditors for asset impairment testing (I may be stating the obvious here, but it is an issue that just won’t go away).

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