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AICPA Conference on Current SEC and PCAOB Developments 2020


SEC2014 - Forecasting and Impairment in Times of Uncertainty


Dec 8, 2020 3:40pm ‐ Dec 8, 2020 4:55pm

Description

Business conditions have changed in many ways across 2020, resulting in changes in forecast methods, bases of comparison, and the approaches to determining the resultant measurement in the financial statements.   Methods that rely on recent performance being an indicator of future performance in particular are challenging for preparers, valuation specialists, and auditors when recent performance during the business interruptions may not be a relevant indicator of future conditions applicable to a forecast or impairment consideration.  

Hear from a panel of a preparer at an international corporation, leader of global valuations practice, audit committee member and auditor on how these challenges have been considered and addressed.

Learning Objectives:
  • Gain an awareness of the general impacts of the business conditions in 2020 on forecasting and impairment considerations
  • Develop an understanding of key steps in their role of preparation, governance, and auditing around forecasts and impairments in circumstances where business conditions have changed, and are expected to further change
  • Obtain an applied knowledge around critical matters that impact forecasts and impairments as models are adjusted to respond to a rapidly changing business environment

Speaker(s):

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