Sessions | ENGAGE 2020

Sunday, June 9 2019

6/9 1:00PM5:00PM

NAA19101. FASB ASC 606: Mastering the Mechanics

Tom Groskopf - Technical Director - CPEA, Barnes Denning

Top impact areas of the revenue standard (FASB ASC 606) will be explored in depth. Lessons and insights from organizations already implementing FASB ASC 606 will be leveraged to provide attendees with practical advice on complying with the more relevant aspects of the revenue standard. Case studies and examples will be extensively employed to illustrate key principles and concepts. In addition, relevant audit considerations at the risk assessment, performance, and evaluation phases of the audit will be covered. Learning objectives: 1) Gain a deeper comprehension of and ability to implement key FASB ASC 606 principles and concepts 2) Learn best practices for auditing the implementation of FASB ASC 606

6/9 5:10PM6:00PM

NAA1901. Trust, Value and Opportunity in Assurance

Sue Coffey - Executive Vice President, Association of International Certified Professional Accountants

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.

Learning objectives:
1) Learn about the trends in the environment that are impacting assurance practice
2) Understand impacts on audit quality
3) Obtain insights into developments that will affect practice in the near future
4) Learn about new assurance opportunities

6/9 6:00PM7:30PM

Welcome Reception

Monday, June 10 2019

6/10 7:00AM7:50AM

NAA19ER01. Protecting the Privacy of Critical Data

Thomas Patterson - Senior Director, NTT Data Services, Inc.

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 and 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.

Learning objectives:
1) Leave participants with an in-depth understanding and increased appreciation of the challenges organizations face when designing and implementing a robust data protection strategy and methods
2) Provide participants with recommended steps for identifying an organization's critically important and most valuable data, identifying the types of controls that can help protect the integrity and privacy of that data, and technologies available in the market that can help prevent and detect data breaches and related data losses

6/10 9:00AM12:00PM

PST19102. How to Build a Cybersecurity Advisory Practice

In this session, the attendee will learn how to monetize their practice from a cybersecurity perspective. The presenters will share best practices in this space, including how to identify and offer cyber advisory and attest services. Both presenters have years of experience in this space, providing these types of services to their clients. Learning objectives: 1) Obtain knowledge on how to monetize cybersecurity services in the CPA firm 2) Obtain best practices on selecting which cybersecurity services to offer

6/10 9:05AM10:45AM

NAA1902. ASB Update

Bob Dohrer - Chief Auditor, Association of International Certified Professional Accountants
Tracy Harding - Principal, BerryDunn
Mike Santay - ASB Chair, Grant Thornton LLP

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.

Learning objectives:
1) Obtain an understanding of the standards recently issued by the auditing standards board
2) Obtain an understanding of projects currently underway at the auditing standards board and in the profession overall

6/10 11:15AM12:05PM

NAA1903. Ethics Update

Toni Lee-Andrews - Director - Professional Ethics, Association of International Certified Professional Accountants

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.

Learning objectives:
1) Get an overview of hosting services changes to ethical responsibilities

6/10 1:30PM2:45PM

ENG19K01. The Fat Tail: The Power of Political Knowledge for Strategic Investing

Ian Bremmer - President & Founder, Eurasia Group and GZERO Media

The fallout from the still-unfolding global financial crisis provides several perfect examples of "fat tail" risk, those that flow from the low-probability, high-impact events that generate upheaval more often than we think. Bremmer shares with audiences how an understanding of the political dynamics generated by the financial crisis helps us forecast market risks, why politics matter more than ever for market performance, why the world's wealthiest countries have begun to behave like emerging market states, and what all this means for investors and companies.

At this presentation audiences will learn:
1) The risks that flow from low-probability, high-impact events...like the global financial crisis
2) Why politics matter more for the performance of markets and for issues ranging from defaults to nationalization to regulatory reforms
3) Why developed states are behaving more like emerging markets
4) The shift from New York, Shanghai, and Mumbai to Washington, Beijing, and Delhi—and the risks that this trend creates

6/10 3:45PM4:35PM

NAA1908. Panel: Does Your Client Have to Adopt the Revenue and Lease Standards? An Alternative Solution

Julie Killian - Shareholder, Clayton & McKervey

Implementing the new revenue and lease accounting standards presents difficulties and commitments of resources which can be avoided by preparing financial statements under the Financial Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEs). For the great many private companies that are not required to follow U.S. GAAP, the FRF for SMEs is an ideal financial reporting option that produces financial statements that management and bankers can use and rely upon. Hear from a CPA practitioner who has converted clients to the FRF for SMEs and learn about those experiences, as well as what the FRF for SMEs is all about. Learning objectives: 1) Gain a comprehension of the fundamental principles of the FRF for SMEs 2) Gain a comprehension of how the FRF for SMEs differs from other accounting frameworks 3) Learn how to transition financial statements to the FRF for SMEs

6/10 4:50PM6:05PM

NAA1910. GASB Update

David Bean - Director of Research and Technical Activities, Governmental Accounting Standards Board

This session will address recently issued GASB Statements and Implementation Guides, focusing on major pronouncements and related implementation guides and major projects and research activities on the GASB’s technical agenda. Topics to be covered include fiduciary activities and leases implementation issues; the financial reporting model; and revenue and expense recognition.

Obtain basic working knowledge of:
1) Changes introduced by recently issued pronouncements, including implementation issues
2) Potential impact of GASB projects and research activities

Tuesday, June 11 2019

6/11 7:00AM7:50AM

NAA19ER04. Accounting Implementation Issues In Response to the 2018 Tax Law Change

Phil Laminack - Senior Manager, DHG LLP

This session will focus on the income tax accounting (ASC 740) and financial statement impacts of the Tax Cuts and Jobs Act of 2017. In addition to a refresher on the overall framework, the session will focus on areas of particular concern for corporations during the 2018 and 2019 reporting periods. The session will also briefly touch on tax considerations of ASC 606 (revenue recognition) and ASC 842 (lease accounting).

Attendees should leave with a better understanding and awareness of:
1) The ongoing financial statement implications of tax reform
2) Potential pitfalls and problems areas relevant to 2018 and 2019 financial statements
3) The income tax accounting implications of ASC 606 and ASC 842

6/11 8:00AM9:15AM

NAA1913. PCC Town Hall - Part 1 FASB Update

Michael Cheng - Partner, Frazier & Deeter
James Kroeker - Vice Chairman, Financial Accounting Standards Board (FASB)
Jeffrey Mechanick - Assistant Director, FASB
Susan Cosper - Board Member & Chairman of the EITF, FASB
Timothy Curt - Managing Director, Warburg Pincus
Candace Wright - Director, Postlethwatie & Netterville
Yan Zhang - Partner, EisnerAmper LLP

The Private Company Council (PCC) helps improve the process of setting accounting standards for private companies and determines whether private company alternatives to existing GAAP are necessary. The PCC takes a proactive approach to its mission, and this session helps to further that work. In addition, participants will have an opportunity, in a town hall format to: •Hear about the current agenda of the PCC • Provide feedback to the PCC and FASB on how to improve financial reporting for private company stakeholders

6/11 9:30AM10:20AM

NAA1914. PCC Town Hall - Part 2

Michael Cheng - Partner, Frazier & Deeter
James Kroeker - Vice Chairman, Financial Accounting Standards Board (FASB)
Jeffrey Mechanick - Assistant Director, FASB
Susan Cosper - Board Member & Chairman of the EITF, FASB
Timothy Curt - Managing Director, Warburg Pincus
Candace Wright - Director, Postlethwatie & Netterville
Yan Zhang - Partner, EisnerAmper LLP

The Private Company Council (PCC) helps improve the process of setting accounting standards for private companies and determines whether private company alternatives to existing GAAP are necessary. The PCC takes a proactive approach to its mission, and this session helps to further that work. In addition, participants will have an opportunity, in a town hall format to: •Hear about the current agenda of the PCC • Provide feedback to the PCC and FASB on how to improve financial reporting for private company stakeholders

6/11 11:20AM12:10PM

NAA1916. FASB ASC 606 Implementation: Manufacturing Industry

Tom Groskopf - Technical Director - CPEA, Barnes Denning

This session will cover aspects of the new revenue standard having the most impact and posing the most challenges in the manufacturing industry. Participants will gain practical knowledge about how to implement FASB ASC 606 in the manufacturing sector, aided by a liberal use of illustrations and examples. Key areas covered include accounting for change orders, contract costs, tooling and pre-production costs, timing of revenue recognition, variable consideration, applicability of series guidance, learning curve costs, sell-through method, and other topics.

Learning objectives:
1) Gain a deeper comprehension of the impact of FASB ASC 606 in the manufacturing industry
2) Gain a stronger ability to identify key impact areas of FASB ASC 606 in the manufacturing sector and how to apply the requirements of FASB ASC 606 to those areas

6/11 1:25PM2:40PM

NAA1918. Audit Documentation

Liz Gantnier - Partner, DHG
Carl Mayes - Associate Director - CPA Quality and Evolution, Association of International Certified Professional Accountants

The AICPA Peer Review Program is detecting high levels of non-conformity with professional standards, and this session will address one of the most common causes: non-compliance with AU-C Section 230, Audit Documentation.

Learning objectives:
1) Learn about common misconceptions that are driving non-conformity
2) Review the requirements of the Standard
3) Walk through examples of real-world application
4) Identify free resources that can help you and your firm

6/11 3:40PM4:30PM

NAA1922. Revenue Recognition for Health Care Providers

Kimberly McKay - Managing Partner, BKD,LLP

Health Care organizations face complex challenges in applying the new revenue recognition standard. Health care leaders will need to reevaluate the processes, controls and estimation techniques currently used to recognize revenue. Join the Chair of the AICPA's Health Care Entities Revenue Recognition Task Force as she discusses the considerations for implementing the standard and practical applications of how to implement the standard in your organization.

Upon completion of this program, participates will be able to:
1) Identify the requirements of the new Accounting Standards Codification Topic
2) Describe the five-step model to apply in recognizing revenue
3) Learn about the AICPA's Revenue Recognition Standard resources for health care providers

6/11 4:45PM6:00PM

NAA1924. Risk Assessment Standards

Liz Gantnier - Partner, DHG
Carl Mayes - Associate Director - CPA Quality and Evolution, Association of International Certified Professional Accountants

Are you starting your audit off on the right foot? At the core of every audit are the goals of identifying, assessing and responding to risks of material misstatement. However, more than a decade after the Risk Assessment Standards were issued, the AICPA Peer Review team has found that more than half of all firms fail to comply with AU-C Section 315 or 330. In this session, you'll learn about the most pervasive issues the Peer Review team has uncovered and how to avoid them in your practice.

Learning objectives:
1) Identify the most commonly misapplied requirements of AU-C Sections 315 and 330
2) Understand the intent of the Standards and how the requirements should be interpreted
3) Discuss practical application of the Standards in audits of small to medium-sized entities
4) Access helpful resources to support quality performance

6/11 4:45PM6:00PM

ENG1900. From Passion to Profession: How LPGA golfer Cristie Kerr turned her love of wine into Kerr Cellars - Presented by Chase Ink®

Cristie Kerr

In this exclusive women’s wine tasting and networking event, presented by Chase Ink®, world-renowned LPGA golfer, Cristie Kerr, will take us through her journey of turning her passion for wine into a successful business with the creation of Kerr Cellars, which launched in 2013.

In the first portion of the session, we will get to know Cristie as she shares her business and personal tips for success in a conversation with Megan Chandler, Executive Director of Marketing at Chase Ink. Following, Cristie will then lead an interactive wine tasting of her own vintages and share more on how to enjoy the finest wines.

Learning Objectives:

1) Insights around winning in business as a female entrepreneur
2) Identifying strength and weaknesses in building a winning team
3) Tips for creating and nurturing a culture of excellence

6/11 6:00PM7:00PM

Reception in Exhibit Hall

6/11 7:30PM10:30PM

ENGAGE @ Topgolf

Wednesday, June 12 2019

6/12 7:00AM7:50AM

ENG19SSK01. BONUS KEYNOTE: Scoring Big in Business - presented by Chase Ink

John Elway - Denver Broncos , General Manager and President of Football Operations

John Elway, Hall of Fame quarterback, General Manager and President of Football Operations for the Denver Broncos and entrepreneur, discusses how managing a football team is similar to running a business – and the secret to succeeding at both.

Learning Objectives:
1. Understanding the “mission critical” role CPAs and Accounting Professionals play in helping business owners make decisions that help their business
2. Tips on leadership, how to build the best team, ways to be more productive, stay inspired and grow your business

6/12 8:00AM9:15AM

ENG19K02. Reimagine

Barry Melancon - President and CEO, American Institute of CPAs CEO, Association of International Certified Professional Accountants , Association of International Certified Professional Accountants
William Reeb - CEO, Succession Institute,LLC

The digital era has brought about a blistering pace of change that’s only getting faster. It’s rapidly resetting consumer expectations and challenging organizations to disrupt themselves to remain relevant. And it’s bringing enormous opportunity for the accounting profession. To lead our clients and employers through these increasingly volatile times, we must open ourselves to new possibilities – reimagining the services and skills we offer to keep the profession vital and relevant well into the future.

You’ll learn:

1) The latest trends reshaping the accounting profession
2) How technology can enable us to enhance quality in existing service areas, and provide opportunity in new service areas our clients and businesses increasingly demand
3) How to evolve our skillsets to remain trusted advisors in an increasingly digital world

6/12 9:15AM9:40AM

ENG19WA01. AICPA & CPA Practice Advisor Top 25 Women in Accounting Awards

6/12 9:40AM10:30AM

ENG19K03. Leading Through Organizational Transformation — A Conversation With Simon Sinek

Simon Sinek - Optimist & Author
6/12 11:30AM12:45PM

NAA1928. Applying the Leasing Standard: Implementation Challenges and Illustrations

Tom Groskopf - Technical Director - CPEA, Barnes Denning

More advanced aspects of the lease standard (FASB ASC 842) will be explored in depth using an illustrative approach, including journal entries. Going beyond the basic rules of FASB ASC 842, this session will cover more complicated and challenging implementation issues.

Learning objectives:
1) Gain greater comprehension of the essential elements of lease accounting and deeper skills to implement the provisions of FASB ASC 842
2) Learn how to implement more complicated aspects of FASB ASC 842

6/12 1:55PM2:45PM

NAA1932. Sampling Applications

Sampling is commonly used in many professional applications and the rules can differ from those to be followed for auditing financial statements. A review of some specialized situations and how to approach sampling will be illustrated with examples and techniques for effective implementation. Applying the wrong guidance or approach can result in litigation exposure, peer review or inspection comments. Presented by the chair of the AICPA Audit Guide Audit Sampling. In this session we will discuss the following: 1) Examples of key guides and guidelines that suggest different sampling approaches in specific situations (e.g., AICPA, Single Audit, FAM) 2) Confusion in Single Audits: sampling guidance for compliance auditing 3) When statistical sampling techniques may be most effective approach 4) Tools to assist in sampling applications 5) Tips for effective communication with clients regarding sampling and sampling parameters 6) When sampling is used in lieu of detailed records for IRS tax purposes" 7) Distinguish between various guidance sources when sampling in different types of engagement 8) Identify some tools for accomplishing efficient and effective applications 9) Discuss case-studies of applications and lessons-learned

6/12 3:00PM3:50PM

NAA1933. Implementing an Effective Cyber Risk Management Program

Brian Thomas - Partner, Weaver

Implementing a comprehensive Cybersecurity Risk Management Program (CRMP) is a priority for many organizations. Attendees will discover ways to accomplish building a CRMP in concert with the guidance in the AICPA’s “Reporting on an Entity’s Cybersecurity Risk Management Program and Controls” Guide. Many of the obstacles organizations face when creating a CRMP will be discussed and presented to allow attendees to tackle these obstacles and create a program that satisfies their organizational objectives and other third-party requirements. Participants will learn about: 1) The key elements of an effective cybersecurity risk management program 2) Common pitfalls and issues encountered when implementing a cybersecurity risk management program 3) Strategies for building and implementing a cybersecurity risk management program

6/12 3:50PM4:50PM

Ask the Experts Networking & Exhibit Hall Break

6/12 4:50PM6:05PM

NAA1935. Testing Internal Controls as a Strategy for Smaller Audited Entities

The chair of the Task Force of the AICPA Audit Guide Assessing and Responding to Audit Risk in a Financial Statement Audit will review the basic control assessment requirements for all audited entities. Implications for compliance and efficiency in smaller entities will be illustrated with examples. Implications of non-compliance with required procedures will be discussed. Learning objectives: 1) Get an overview of required controls assessments and gathering of evidence of operation for all entities 2) Discuss how to assess the extent of assurance/risk to be taken from various control related procedures 3) Determine the trade-offs of different strategies in auditing key accounts such as revenues 4) Discover implications of non-conformity with basic requirements 5) Understanding of the opportunities for testing controls and greater audit efficiencies in smaller audit engagements 6) Identifying the areas of the audit most likely to benefit from more controls reliance 7) Discuss the pitfalls and dangers of failing to make a proper assessment of the entity system of internal control

Thursday, June 13 2019

6/13 7:00AM7:50AM

PST19ER02. Tax Season Debrief

DeAnn Hill - Owner, DEANN AUMAN HILL CPA
Mike Shost - Advisor, Judd Thomas CPA's & Advisors

Join us to review the 2019 tax filing season; we will “rate” the season as a group and discuss some of the challenges of TCJA in the new IRS “post card world” such as the new Forms and Schedules, QBI and how the loss of Miscellaneous Deductions and the higher Standard Deduction impacted your fee’s. We plan for you to leave our session with idea’s on replacing those fee’s or expanding your practice to include tax planning, QBI planning and entity choice review. In addition, we will discuss idea’s on adjusting your processes for tax preparation & review in light of the new law.

Learning objectives:
1) Gain a better understanding of the impact of TCJA on tax practices and changes you should make for the future
2) Provide participants with practical suggestions to expand their practice with tax planning, QBI planning and entity choice review

6/13 8:00AM9:15AM

ENG19K04. Stress-Testing America's Prosperity

Zanny Minton Beddoes - Editor-In-Chief, The Economist

For years, America's economy has led the rest of the developed world, but will the U.S. remain the global dynamo or is the country’s ongoing recovery built on an unsustainable pile of debt? Minton Beddoes examines the economic outlook from American and global perspectives, offering up-to-the-minute insight on policy-makers' priorities and expertise on the likely direction of issues, ranging from job creation to the deficit's effect on global interest rates to potential financial regulation.

6/13 9:30AM10:45AM

PST1933. Enabling Remote Workers & Virtual Offices

As the number of companies offering workplace flexibility, remote work arrangements and even virtual offices continues to grow, you want to be ready to enable your team to be successful working outside the traditional office. Ensuring that you’re prepared for these shifts in work environment with the appropriate technology, expectations, criteria and policies will not only become more important in the coming years but also expected by many prospective employees. Learning objectives: 1) Understand the trends that are disrupting the traditional work environment 2) Review Best Practices for remote workers and virtual offices 3) Gain a better understanding of the technology, criteria, management and policies required for success

6/13 11:15AM12:05PM

PST1937. Time Management for Accountants

Gail Perry - Editor-in-Chief, CPA Practice Advisor

Accountants know that time is money – and there rarely seems to be enough time. In this session you will learn proven steps to actually improve the way you manage time and improve your workflow practices for maximum value. In particular, you will learn why time management is at the core of most pressing issues facing accountants today; the theory of goal-based time management; understanding your goals; short-term and long-term scheduling tactics; and time management hacks that make managing your time fun and successful. The author of over 30 books on tax, accounting, and personal finance, Gail promises that you will leave this session with a priceless gift – the gift of time.

Learning objectives:
1) Learn how to set time management goals and incorporate them into your schedule
2) Discover how to make the best use of your available time
3) Learn how to stay focused in the face of interruptions
4) Change the way you regard time - for the rest of your life

6/13 1:15PM2:30PM

PST1943. Office 365 - The Lesser Known Apps

Gerry Wilton - Director of Operations BAIWay, BAI Bragonier & Associates Inc.

Join Gerry as he takes us on a guided tour of the lessor known applications included in your Office 365 Business and Enterprise licenses. He’ll speak to what these applications are about and how they can be deployed in your firm. They will include: Bing; Delve; Flow; Forms; Planner; Stream; Sway; Teams and Video.

Upon leaving Gerry’s session you will have:
1) A clear understanding and focused objectives of each of the applications covered
2) You will also be able to make a clear distinction on how and why your firm might further investigate their deployment and use

6/13 2:45PM4:00PM

PST1948. Ask The Tech + Expert

Still have unanswered questions from the conference? Tap into the minds of a handful of the professions leading technology minds. In this interactive panel discussion, you'll have the opportunity to ask your questions on a variety of topics. Learning objectives: • Access to some of the leading technology thought leaders in the profession • Last chance to ask any unanswered questions before you leave the conference

6/13 4:15PM5:05PM

PST1949. Moving to a Virtual Audit

Audit clients continue to become more global, diverse and technology reliant while the audit methodologies used by most firms hasn’t fundamentally changed in 25 years. While there has long been discussion that the future audit will shift from attesting on past results once per year to delivering real time assurance very little has been accomplished to date. This session will discuss approaches to virtual integration to client’s systems and data to leverage data analytics. Leveraging “big data” through use of “data analytics in our audit processes are sure to be future foundational capabilities. This session will layout a virtual audit model for how that could work, the potential benefits, and the current barriers around moving this from myth to reality. During this session, specific recommendations will be presented to start positioning the firm for virtual engagements will be discussed. Topics Include: a) Out Instant Gratification Culture, b) Audit of the Future – Dynamic Integration, c) Use of Data Analytics  Continuous Auditing, d) Virtual Continuous Audit models, e) What can I do today? and f) Moving Ideas to Action. Learning objectives: 1) Participants will understand the benefits of moving to virtual auditing 2) Participants will learn how to set up a virtual audit practice in their firm