This includes sessions from the conference: Advanced Accounting and Auditing (as part of AICPA ENGAGE 2019)
The business environment is complex and evolving more rapidly than ever. In order to position ourselves for success, we must understand prevailing environmental trends, how they impact what we do as assurance providers, and the opportunities they present.
An organization's data is oftentimes thought of as its most valuable asset, yet many entities struggle when it comes to protecting that data. This is especially true when it comes to the personally identifiable data of customers, trading partners, and employees. This session will explore the topic of data protection anhttps://aicpaconferences.com/aicpa/admin/sessions/38773/edit/1118#d provide attendees with a greater appreciation of the potential difficulties one may encounter when attempting to create a data protection strategy, data handling procedures, control activities, and the types of technical tools available in the market about which CPAs should be aware.
This session will provide an update on the status of CECL, and the evolving best practices related to the implementation, integration and internal control being utilized to achieve a proper transition from current GAAP to the new standard.
You will receive critical information related to:
The necessary team members that need to be involved; impact in your internal controls; critical elements when using a third party; and how to discuss the new model with your auditors.
The Auditing Standards Board Chair will discuss recently issued standards for audits (SASs) and attestation engagements (SSAEs). The discussion will also include the ASB’s active agendas including ongoing efforts to enhance the standard setters’ outreach to stakeholders regarding proposed standards and post-implementation reviews of issued standards. This session will feature a discussion of the current status of the ASB’s projects to: a) Revise and expand the auditor’s report, b) Enhance auditor attention on financial statement disclosures as part of the risk assessment process and throughout the audit, c) Revise the attestation standards to enable a practitioner to perform an examination, review, or agreed-upon procedures engagement without having to request a written assertion from the responsible party, d) Revise the auditor’s performance and reporting responsibilities with respect to ERISA audits, e) Explore potential changes to the audit evidence standard; and convergence efforts on estimates and auditor risk assessment.
This session will provide attendees with an update on recent changes to the Code of Professional Conduct and also refresher on other ethical topics that the hotline staff are frequently asked about. In addition to understanding changes to your ethical responsibilities an emphasis will be made on understanding responsibilities related to hosting services.
1. Get an overview of hosting services changes to ethical responsibilities.Speaker(s):
Business combinations and the application of FASB ASC 805 is one of the more challenging and complicated areas of accounting and financial reporting. This session highlights some common and trickier issues that can arise when accounting for a business combination. In addition, the presenters will offer audit considerations for those issues and other key aspects of such transactions.
This session is Part 1 of a two-part session series. These sessions, which qualify for the ongoing Team/Review Captain training requirement, will cover recent changes to peer review guidance, peer review resources and other related developments.
The Association (unified voice of AICPA & CIMA) and CPA.com launched a shark-tank style startup accelerator two years ago with a focus on FinTech and EdTech. Its purpose is to foster innovation in the profession and provide members, the Association, and CPA.com more visibility into disruptive trends and emerging technologies. In this session, you will hear from the 2019 cohort – 3 startup companies that have a leading role in client workspace solutions, cash flow management and accounting task automation.
During this session you will:
1. Discover trends in FinTech that are impacting the profession and your role.
2. Hear from the front lines of disruption.
3. Learn about the 3 startups that are members of the second cohort of the Association and CPA.com Startup Accelerator - https://www.aicpa-cima.com/accelerator.
4. Get inspired to rethink how you can leverage financial and educational technology.Speaker(s):
This session will provide a summary of recent GAAP changes for shared-based payments as well as discuss examples based on requests submitted to the AICPA technical hotline (such as, profits interests, stock options, etc.).
Join this discussion on maintaining Independence while providing non-attest services and knowing where to draw the line. Practitioners are constantly striving to provide increased additional services to meet their client’s needs and this may include providing professional services that could give rise to threats to independence. This session will address concerns that practitioners have when providing certain non-attest services including revenue from contracts with customers, hosting services, and independence breaches.