Conference on Credit Unions 2019

This includes sessions from the conference: Conference on Credit Unions 2019

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Auditing CECL: AICPA Practice Aid

Identification: CU1913

The purpose of this session is to summarize key provisions of FASB Accounting Standards Codification (ASC) 326, Financial Instruments — Credit Losses, and to address key considerations in auditing the allowance for credit losses related to loans under the ASU and disclosure considerations. This session is intended to provide auditors with information that may help them improve the effectiveness and efficiency of their audits and practices when auditing CECL. Preparers of financial statements might also find this helpful in developing their accounting estimates and the controls over the estimates. This session will highlight key areas within the auditing process, including obtaining an understanding of the entity, assessing the risks, identifying the controls relevant to the audit, designing an audit response, performing audit procedures, and evaluating the audit results, to name a few.

• Kyle Owens, CPA, Senior Manager, Crowe LLP
• Jason Brodmerkel, CPA, Co-Chair DIEP, AICPA

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UBIT and Tax Reform and Impact on Your CU

Identification: CU1915

Unrelated Business Income Tax concepts & revenue streams specific to credit unions for consideration Tax Reform impacts and application on credit unions, including: UBI siloing, NOL rule changes, new excise tax on excess compensation, new inclusion in UBI for qualified transportation benefits.

• Danielle Tewes, CPA, Tax Senior Manager, National NFP Practice, Crowe LLP

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How Forensic Data Analytics Can Help Identify Fraud and Mitigate It’s Risks

Identification: CU1916

Fraud is difficult to identify, and forensic data analytics can often help.

This session will discuss how forensic data analytics can be used both proactivity and reactively to better identify fraud risk. It will show the power of data analytics using both proactive and reactive case studies. We will introduce a method to apply data analytics, demonstrate capability and explain how the data analytics methodology can be used to efficiently and effectively identify risk.

• Bryan W. Mogensen, CPA, Principal, Financial Institutions, CLA
• Ryan Merryman, CPA/CFF/CITP, CFE, Principal, Data Analytics, CLA

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Staying on Target in 2019: Enhancing Performance Management and Profitability

Identification: CU19203

How are strategies changing in 2019 to support ever-increasing performance goals? Kaufman Hall surveyed CFOs and senior finance executives from financial institutions around trends and priorities in financial performance management. In this session, Kaufman Hall experts Ken Levey and Bryan Ridgway will:

• Review key survey findings and best practices in budgeting, forecasting and long-range planning; reporting and analytics; and profitability analysis.
  
• Provide a focused look at Profitability Analysis—the top performance management initiative indicated by CFOs—describing best practices for developing an effective multi-dimensional profitability analysis framework specifically for financial services organizations. Attendees will learn challenges and pitfalls of traditional profitability initiatives, the importance of adding relationship profitability for comprehensive analysis, and tips for making profitability matter at every institution.

• Brad Brockman, Senior Solutions Engineer, Financial Institutions, Syntellis Performance Solutions
• Kenneth Levey, Vice President, FI Software, Product Management & Strategy, Kaufman Hall

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Announcements and Introduction | CECL Panel Discussion

Identification: CU1917

The session will provide our panelists an opportunity to discuss their approach to addressing CECL for their credit unions or their clients. They will provide background on their CECL path thus far and the challenges they have faced. In addition, participants will have time to ask questions of the panelists.

• Mark Taylor, CPA, Partner, Crowe LLP
• Chad Kellar, CPA, Partner, Crowe LLP
• Randy Carswell, CPA, SVP - Finance, RBFCU
• Doug Wright, CFO, Mission Federal Credit Union

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NCUA and the Virtual Examination Program: Exam Hot Topics

Identification: CU1918

We will discuss recent changes to NCUA's examination related tools and applications. We will also provide an update regarding NCUA's "Virtual" examination project. In addition, other contemporary topics related to NCUA's examination program will be discussed.

• Scott Neat, Associate Director, Office of Examination & Insurance, NCUA

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The Top Ten Accounting Questions

Identification: CU1919

This session will cover frequent accounting questions asked by credit union personnel…………….and questions that should have been asked by credit union personnel regarding infrequent and unusual accounting transactions.

• Doug Orth, CPA, Shareholder, Doeren Mayhew

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Best Practices to be a Successful CFO

Identification: CU1920

The recession, current interest rate environment, regulations, and other factors have contributed to the changing role of the finance executive. In this session, you’ll hear from four industry leaders about their journey of becoming successful credit union finance executives. They’ll share some war stories, provide some insights into successful management techniques, and discuss their thoughts on strategic challenges they see on the horizon.

• Michael J. Sacher, CPA, EVP/CFO, Xceed Financial Federal Credit Union
• Julie Renderos, CPA, CCUE, CUDE, EVP/CFO, Suncoast Credit Union
• Randy Carswell, CPA, SVP - Finance, RBFCU
• Doug Wright, CFO, Mission Federal Credit Union

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Supervisory Committee Audit Guide Revisions - Finish Line in Sight

Identification: CU1921

Although the Supervisory Committee Guide Audit (more commonly known to CPAs as an Agreed-Upon Procedures (AUP) engagement) is by far the most common engagement obtained by credit unions under $500 million in assets, it is neither an audit nor a process that heavily involves the Supervisory Committee. In fact, despite the current pre-determined procedures as outlined in the 1999 Supervisory Committee Guide, there is more confusion and inconsistency in these “audits” than any other process being used. Join this session as we cover the new rules, the confusion, and what is being done to improve this vital component of the credit union audit requirement through the revised regulation and scope of minimum procedures.

• Ellen Vargo, CPA, Partner, Nearman, Maynard, Vallez CPAs & Consultants, P.A.
• Alison Clark, CPA, MBA, CFE, Chief Accountant, NCUA
• Dan Moulton, CPA, Partner/Shareholder, Doeren Mayhew

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Insights into Executive Benefits

Identification: CU1922

Come join us to learn about the types of benefit plans credit unions can utilize to attract and retain quality executives. We will discuss the accounting treatment for each type of plan and review the call report requirements for each plan. We will also address the 990 reporting for plans and the impact of the new excise tax.

• Jennifer Hoskins, CPA, Managing Director, Nearman, Maynard, Vallez CPAs & Consultants, P.A.
• Jeff Ziliani, CPA, Chief Financial Officer, Executive Benefits, BFB-Gallagher