ENGAGE 2020

Jun 7, 2020 ‐ Jun 11, 2020



Sessions

Accounting for Profits Interests

Jun 8, 2020 11:15am ‐ Jun 8, 2020 12:05pm

Identification: NAA2003

Operation Credit Type : Accounting

Operation Level : Intermediate

Operation Advanced Prep : None

Many limited liability companies and similar organizations have granted profits interests to management and service providers. In this session, participants will walk through a case study that identifies the common challenges in accounting for profits interests. The session will also cover recent standard setting activities around the classification and measurement of profits interests. 

Learning Objectives:
  • Identify the key decision/inflection points in accounting for profits interests
  • Describe some of the recent standard setting activities related to the accounting for profits interests
Speaker(s):
  • Scott Ehrlich, CPA (State of Pennsylvania), President, Mind the GAAP, LLC
Tags: NAA
Category: Concurrent Session (Onsite and Online)

NASBA UpdateNASBA Update

Preview Available

NASBA Update

Jun 8, 2020 11:15am ‐ Jun 8, 2020 12:05pm

Identification: NAA2004

To Be Announced.

Speaker(s):
Tags: NAA
Category: Concurrent Session (Onsite and Online)

Audit Evidence - Modernizing Auditing Standards

Jun 8, 2020 11:15am ‐ Jun 8, 2020 12:05pm

Identification: NAA2005

Operation Credit Type : Auditing

Operation Level : Overview

Operation Prerequisites : 1-2 Years in the Profession

Operation Advanced Prep : None

The AICPA Chief Auditor will discuss revisions to one of the core auditing standards; Audit Evidence (AU-C 500). The Audit Evidence standard has been revised to make it more relevant and effective in today's business environment.  The revised standard provides the auditor with a robust framework for evaluating the sufficiency and appropriateness of information to be used for audit evidence by recognizing (1) the vast increase in sources of information available to auditors, (2) the use of emerging technology by management and auditors, and (3) the increasing need to exercise professional skepticism when evaluating audit evidence.

Learning Objectives:
  • Obtain an understanding of the revised audit evidence standard and how it will impact practice.
  • Obtain an understanding of the impact of emerging technology and sources of information on the evaluation of audit evidence.
Speaker(s):
Tags: NAA
Category: Concurrent Session (Onsite and Online)

Put Your Best Fund Forward: Research-Backed Strategies You Can Use to Build Better Retirement Plans

Jun 8, 2020 11:15am ‐ Jun 8, 2020 12:05pm

Identification: PFP2004

Operation Credit Type : Finance

Operation Level : Intermediate

Operation Prerequisites : Other

Operation Advanced Prep : None

Join David Blanchett, Head of Retirement Research for Morningstar Investment Management, as he walks through some of Morningstar’s latest defined contribution research on how best to select and construct an appropriate core menu and default investment option to serve the full gamut of plan participants. During this presentation, David will cover:

  • How core menu size impacts participant investment decisions in 401(k) plans
  • Best practices for selecting and monitoring plan investments
  • How demographics and fund attributes can drive acceptance of the default investment
  • How investors incorporate industry-specific human capital risks into portfolio choices

Learning Objectives:
  • understand how to build optimal core menus for 401(k) plans
  • optimal default investment selection considerations
Speaker(s):
  • David Blanchett, PhD, CFA, CFP, AIFA, Head of Retirement Research, Morningstar Investment Management LLC
Tags: PFP
Category: Concurrent Session (Onsite and Online)

The Future of a PFP PracticeThe Future of a PFP Practice

Preview Available

The Future of a PFP Practice

Jun 8, 2020 11:15am ‐ Jun 8, 2020 12:05pm

Identification: PFP2005

We hear that the future is bright for personal financial planning services, but that is true only of advisors who are capable of offering a comprehensive service package, and who are adequately preparing for a rapidly-changing future. This session will discuss holistic planning services, the increasingly personal ongoing relationship and the tools that can help you leverage your time and expertise.

Learning Objectives:
  • The components of a comprehensive planning process beyond tax preparation and planning.
  • The discovery process, and how that relates to the ongoing service offering.
  • A roundup of the types of planning programs that will be essential parts of the future PFP practice’s toolkit.
Speaker(s):
Tags: PFP
Category: Concurrent Session (Onsite and Online)

The Hatfields & McCoys: Potential Pitfalls When Planning Gifts

Jun 8, 2020 11:15am ‐ Jun 8, 2020 12:05pm

Identification: PFP2006

Operation Credit Type : Specialized Knowledge

Operation Level : Intermediate

Operation Prerequisites : 3-5 Years in the Profession

Operation Advanced Prep : None

In this session, we will review the different methods by which clients distribute real estate to multiple beneficiaries and the potential pitfalls stemming from the shared inheritance of real estate.  In particular, we will review and compare the benefits and drawbacks of bequeathing property subject to residential life estates, residence trusts, and joint tenancies.  We will discuss the potential for disputes that might arise among beneficiaries who share interests in real estate under these estate planning structures.  We will also discuss ways that planners can address these disputes through deliberate plan drafting and the use of business entities, such as limited liability companies.  

Learning Objectives:
  • Session attendees will become familiar with the different methods by which clients often choose to bequeath real estate to multiple beneficiaries, and the pros and cons of each of method. After this session, attendees will be able to advise clients of potential problems attendant with their chosen method for distributing real estate to their beneficiaries.
  • Session attendees will learn about better methods of distributing real estate to beneficiaries in a manner that will minimize future disputes and facilitate effective management of shared interests in real property.
Speaker(s):
  • Marve Ann Alaimo, JD, LL.M. (Estate Planning), Partner, Porter Wright Morris & Arthur LLP
Tags: PFP
Category: Concurrent Session (Onsite and Online)

SIN Investments PanelSIN Investments Panel

Preview Available

SIN Investments Panel

Jun 8, 2020 11:15am ‐ Jun 8, 2020 12:05pm

Identification: PFP2007

To Be Announced.

Tags: PFP
Category: Concurrent Session (Onsite and Online)

Implementing AI to Improve Audit Efficiency (PST, NAA)

Jun 8, 2020 12:25pm ‐ Jun 8, 2020 1:15pm

Identification: ENG20NL01

Operation Credit Type : Auditing

Operation Level : Overview

Operation Prerequisites : 1-2 Years in the Profession

Operation Advanced Prep : None

Although the audit profession is still at the early stages of introducing artificial intelligence, technology offers the ability to improve efficiency, quality, and value of the audit. A number of key drivers in the profession are pointing to this technology shift including an increasing amount of data coming from various sources, the demand for a forward thinking audit approach, and a shift toward automation. In this session, we'll examine how AI can be leveraged to improve audit efficiency today by bringing automated testing into existing workflows, simplifying the process of data acquisition, and easily tailoring data analysis to the entity.

Learning Objectives:
  • Leveraging AI to improve efficiency in audit workflows
  • Implementing AI for a forward thinking audit approach
Speaker(s):
Tags: NAA PST
Category: Bonus Lunch Session (Onsite Only)

Adding Estate Planning to Your Practice Toolkit

Jun 8, 2020 12:25pm ‐ Jun 8, 2020 1:15pm

Identification: EST20NL01

Operation Credit Type : Taxes

Operation Level : Intermediate

Operation Prerequisites : 3-5 Years in the Profession

Operation Advanced Prep : None

In this session, participants will learn how to develop an estate planning niche in their practice. The focus will be on:

  • - Obtaining the knowledge
  • - Publicizing it to referral Sources
  • - Offering to Existing Clients
  • - Becoming involved in the community of estate planners

Live examples of each category will be provided by practitioners with various sized firms. 

Learning Objectives:
  • Recognize the need for an additional service for your clients
  • Discover how a combination of education and networking can expand your practice
Speaker(s):
Tags: EST
Category: Bonus Lunch Session (Onsite Only)

Donor Advised Funds vs. Private Foundations: How to Choose?

Jun 8, 2020 12:25pm ‐ Jun 8, 2020 1:15pm

Identification: EST20NL02

Operation Credit Type : Taxes

Operation Level : Intermediate

Operation Prerequisites : 3-5 Years in the Profession

Operation Advanced Prep : None

With the increasing popularity of donor advised funds, donors and their advisers must understand how the two giving tools are similar and how they differ.  This session will examine the similarities and differences with the goal of equipping advisers to advise their clients. The historic wealth transfer currently in process means that both of these tools will see significant use for decades yet to come.

Learning Objectives:
  • Increase technical understanding of two powerful charitable giving tools
  • Gain confidence in aligning each tool with suitable donors
Speaker(s):
  • Ted Batson, J.D., M.B.A, CPA, Partner/Tax Counsel, CapinCrouse LLP
Tags: EST
Category: Bonus Lunch Session (Onsite Only)
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