Advanced Accounting and Auditing (as part of AICPA ENGAGE 2018)
This includes sessions from the conference: Advanced Accounting and Auditing (as part of AICPA ENGAGE 2018)
Products
IdentificationNAA18ER01DateJune 11, 2018Presentation of an investment firm’s past performance can be a powerful tool for attracting new clients. To promote fair representation and greater comparability in performance presentations, CFA Institute created the Global Investment Performance Standards (GIPS® standards). Many investment firms’ claim of compliance with these standards has been regarded as providing a competitive advantage. The CFA Institute is currently working to update the GIPS Standards in preparation of a new edition effective in January 2020. In this panel, CFA Institute representatives and expert practitioners will provide an update on the status of the GIPS 2020 project.
Learning Objectives:
• Discuss the guidance currently in the workings for private funds, and the new provisions for asset owners and broadly distributed pooled funds.
• Provide an update on the guidance that is being developed on GIPS verification and performance examinations, which may affect the work of practitioners that engage in attestation engagements under AICPA’s Statement of Position 12-1, “Reporting Pursuant to the Global Investment Performance Standards”Speakers
Amy Jones, CIPMFounder and Principal, Guardian Performance Solutions, LLCKen Robinson, CFA, CIPM, CPA, PFSDirector, Global Investment Performance Standards, CFA InstituteAntonella Puca, CPA/ABV, CFAPartner, BlueVal$49Standard Price
IdentificationNAA18ER02DateJune 11, 2018Auditing under Topic 606 will be more challenging due to the transition and disclosure requirements as well as the new rules for revenue recognition. Get ahead of the curve by learning the expectations for a supportable audit of the client's transition and new revenue recognition response.
Learning objectives:
• Review of the auditing portion of the 2016 A&A Guide Revenue Recognition
• Review of the controls entities should have in place for the transition and for going forward.
• Tips for minimizing the extent of procedures necessary to achieve a supportable audit of revenues
Speaker
Consultant and Educator, Lynford Graham CPA$49Standard Price
IdentificationNAA1801DateJune 11, 2018This session provides an overview of the latest developments and trends in key areas of audit and assurance.
Attendees will learn about:
• The current environment and its impact on audit and assurance
• What practitioners can do to keep abreast of changes and adapt their practices
• AICPA’s initiatives to support the profession, ongoing relevance of services, and qualitySpeaker
Chief Executive Officer - Public Accounting, AICPA & CIMA$49Standard Price
IdentificationNAA1802DateJune 11, 2018Focusing on the top impact areas for private companies, the technical director of the Center for Plain English Accounting (CPEA) provides an understanding of and practical insights about key principles and essential elements of the new revenue recognition standard. Participants gain a deeper grounding in key aspects of the FASB ASC 606 architecture. Interactive illustrations and exercises are utilized to deepen the participants' knowledge of major concepts.
After participating in this session, attendees will be able to:
• Understand the new revenue recognition standard (FASB ASC 606) and how it differs from current guidance
• Apply the concepts and requirements of the new revenue recognition standard when accounting for transactions and preparing financial statementsSpeaker
Technical Director - Center for Plain English Accounting, AICPA & CIMA/Barnes, Dennig & Co., Ltd$49Standard Price
IdentificationENG1802DateJune 11, 2018This 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. Peer review is undergoing significant change as a result of several key initiatives and it is imperative team and review captains stay current. Both parts, which run back-to-back, must be completed to fulfill the requirement.Speakers
Thomas Parry, CPAPartner, Navolio & Tallman LLPVice President of Ethics and Practice Quality, AICPA & CIMA$49Standard Price
IdentificationNAA1803DateJune 11, 2018The AICPA's Technical Issued Committee (TIC) is a committee of CPA practitioner volunteers working to represent the views of local firms and their clients in the standards-setting process. This panel includes 3 representatives of TIC to provide their views on recent standards-setting activities.
Learning objectives:
• To provide an update on recent activities of TIC
• Allow participants to ask questions about the recent activities of standards setters and TIC's views on some of the key issues
Speakers
Principal - National Assurance, Construction, CLAPartner, BKD, LLPSVP, AI, Analytics & Assurance, Caseware InternationalKristy Illuzzi, CPA, CGMADirector, A&A Learning, Forvis$49Standard Price
IdentificationNAA1804DateJune 11, 2018The new revenue recognition standard (FASB ASC 606) substantially changes the accounting for variable consideration, customer loyalty programs, marketing incentives, and other customer promotions. In this session, the technical director of the Center For Plain English Accounting (CPEA) uses active learning techniques to upskill participants in these critical aspects of revenue recognition. Practical illustrations relevant to private companies are used to deepen the learning experience.
After participating in this session, attendees will:
• Gain a deeper understanding of the new revenue recognition rules (FASB ASC 606) related to variable consideration, customer loyalty programs, marketing incentives, and other customer promotions
• Learn how to apply the new rules to common transactions existing at private companiesSpeaker
Technical Director - Center for Plain English Accounting, AICPA & CIMA/Barnes, Dennig & Co., Ltd$49Standard Price
IdentificationNAA1805DateJune 11, 2018This session covers the changes in peer review guidance made during the last year. It provides information essential to all peer reviewers and firms who will be undergoing a peer review in 2018, including a high-level overview of changes to standards and guidance, as well as an update on the short and long-term enhancements to audit quality currently being developed by the Peer Review Board.
Learning objectives:
• Review significant changes in peer review standards and guidance effective January 1, 2018
• Identify common mistakes
• Differentiate between the various types of common matters for further considerationSpeaker
Karen K. Kerber, CPAShareholder, KerberRose SC$49Standard Price
IdentificationNAA1806DateJune 11, 2018This session will address some of the accounting challenges for various complex compensation arrangements seen at private companies, including profits interests.
Learning objectives:
• Explain the factors in evaluating whether profits interests are within the scope of ASC 718 or ASC 710
• Apply ASC 718 to classify certain profits interests as equity or liabilities
• Describe some of the other challenges in accounting for compensation arrangements entered into by private companiesSpeaker
President, Mind the GAAP, LLC$49Standard Price
IdentificationNAA1807DateJune 11, 2018As a result of the new revenue recognition standard, auditors will face significant challenges, not only in learning about and understanding the standard, but in designing an effective audit plan and procedures to address the various risks. In this session, we will address some of the risks associated with pre-adoption date activities and requirements, and identify procedures that could be responsive to those risks.
In this session we will:
• Describe the risks associated with pre-adoption date activities and requirements
• Identify procedures that could be responsive to those risksSpeaker
Russ Madray, CPA, CGMAScholar-in-Residence, Elliott Davis$49Standard Price
IdentificationNAA1808DateJune 11, 2018Join members of the Center for Plain English Accounting (CPEA) for a unique session in which they provide a refresher on accounting guidance which practitioners commonly submit inquiries about.
Speakers
Mike G. Austin, CPASenior Manager, Center for Plain English Accounting, Center for Plain English AccountingKristy Illuzzi, CPA, CGMADirector, A&A Learning, Forvis$49Standard Price
IdentificationNAA1809DateJune 11, 2018This session will discuss the status of the law, types of claims brought against CPA firms and Risk Management Techniques to avoid claims.
Learning objectives:
• Discover what a CPA firm should do when it is served with a complaint
• Learn techniques your firm can employ to avoid litigationSpeaker
Nancy Reimer, JDMember, LeClair Ryan, PLLC$49Standard Price
IdentificationNAA1811DateJune 11, 2018This session will provide an update of various accounting, auditing, and reporting matters affecting employee benefit plans.
It will also include a discussion of the:
• EBP Audit Risk Alert
• Conforming changes to the EBP Audit Guide
• Proposed SAS on ERISA reporting for EBP audits
• Progress on the Multi-employer chapterSpeaker
Partner, Retired KPMG Partner$49Standard Price
IdentificationPFP18EL01DateJune 11, 2018Responding to pushback—whether its on investment questions, fees or other client experience issues--can occasionally trip up even the most seasoned advisor, and mean the difference between landing and losing that next prospect! Hear from Ernest Clark on key ways to keep the conversation focused and build confidence.
Speaker
Ernest Clark, CPA, PFSRelationship Director, BAM Alliance$49Standard Price
IdentificationPFP18EL03DateJune 11, 2018Firms that currently serve the Baby Boomers and Silent Generation clients know they will need to attract the younger generations to maintain the longevity of their firm. Forging a relationship with their clients' children is great for both the parents and their children. Yet most struggle to figure out how to connect with and provide planning services for younger generations. This session will provide you with specific recommendations for how to successfully and profitably serve NexGen clients by leveraging technology and workflow automation. Deborah Fox will share how she and her team built this service tier in their firm and what specific components made it a resounding success.
Learning Objectives:
- Provide ideas for successfully serving NexGen clients, especially the children of their existing clients
- Discuss examples of how Deborah structured this service in her own firm (what to do, but more importantly, what NOT to doSpeaker
CEO & Founder, Fox Financial Planning Network$49Standard Price
