Sessions | AICPA ENGAGE 2019

Sunday, June 9 2019

6/9 1:00PM5:00PM

NAA19101. FASB ASC 606: Mastering the Mechanics

Lynford Graham - Visiting Professor, Bentley University
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

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 7:00AM7:50AM

NAA19ER02. CECL Implementation

Barry Pelagatti - Partner, RKL LLP

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.

Learning objectives:
1) Achieve a better understanding of the various methodologies in place under the new guidance
2) Achieve a better understanding of how the new CECL model can impact your ICFR environment for SOX purposes

6/10 8:00AM9:15AM

NAA1901. AICPA Professional Update

Sue Coffey - Executive Vice President, Association of International Certified Professional Accountants
6/10 9:30AM10:45AM

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

NAA1904. Business Combinations: Accounting and Auditing Issues

Joshua Forgione - Partner, Assurance Services, Ernst & Young LLP
Dan Langlois - Partner, KPMG LLP

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.

Learning objectives:
1) Gain an understanding of the application of the accounting literature to certain elements of a business combination
2) Comprehend certain common and challenging issues that arise during a business combination and how to properly account for them
3) Expand knowledge and skills related to business combinations

6/10 11:15AM12:05PM

NAA1905. Peer Review - Part 1

Frances McClintock - Assoc Director- Peer Review Program, Association of International Certified Professional Accountants
Andrew Pope - Partner, Grant Thornton LLP

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.

Learning objectives:
1) Obtain an understanding of recent and upcoming changes in the peer review program guidance
2) Obtain an understanding of the current enhancing audit quality initiative areas of focus

6/10 11:15AM12:05PM

NAA1903. PEEC Update

Ellen Goria
6/10 1:30PM2:45PM

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

Ian Bremmer - President & Founder, Eurasia Group

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

NAA1906. Accounting for Employee Compensation - Unique Awards

Jeremy Dillard - Partner, SingerLewak LLP
Mike Austin - CPA, Sr. Technical Manager, Association of International Certified Professional Accountants

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.).

Learning objectives:
1) Attendees will understand the recent GAAP changes for share-based payments
2) Attendees will understand how to apply the current GAAP to common situations

6/10 3:45PM4:35PM

NAA1907. Independence Considerations and the Implementation of ASC 606

Toni Lee-Andrews
6/10 3:45PM4:35PM

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

Mike Brand - Partner, Johnson, Feigley, Newton & Brand, LLP
Robert Durak - Director, Association of International Certified Professional Accountants
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

NAA1909. Early Observations - Topic 606

Joe St. Denis - Vice President, Western Union

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.

Learning objectives:
1) Gain an understanding of the application of the accounting literature to certain elements of a business combination
2) Comprehend certain common and challenging issues that arise during a business combination and how to properly account for them
3) Expand knowledge and skills related to business combinations

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

6/10 4:50PM6:05PM

NAA1911. Data Extraction and Analytics (An Introduction)

Virginia Collins - Quality Control Manager, Berdon LLP

This session will familiarize participants with what audit data analytics is and will also focus on critical success factors and barriers to audit data analytics implementations. The session will include information on project management methodology and tools to use in order to maximize rate of return on audit data analytics investments.

Learning objectives:
1) Discuss challenges and best practices of audit data analytics
2) Discover the benefits of audit data analytics tools and project planning to maximize value of audit data analytics implementations

6/10 4:50PM6:05PM

NAA1912. Peer Review - Part 2

Frances McClintock - Assoc Director- Peer Review Program, Association of International Certified Professional Accountants
Andrew Pope - Partner, Grant Thornton LLP

This session is Part 2 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.

Learning objectives:
1) Obtain an understanding of recent and upcoming changes in the peer review program guidance
2) Obtain an understanding of the current enhancing audit quality initiative areas of focus

Tuesday, June 11 2019

6/11 7:00AM7:50AM

NAA19ER03. Group and Component Auditor Issues

Stephanie Markert - Audit Principal, CliftonLarsonAllen LLP

To take or not to take responsibility...is this your question? Do you currently serve clients that meet the definition of a group audit under AU-C Section 600? The objective of this session is to understand the requirements of the group auditor and the component auditor whether within the United States or outside the United States. The session will also inform the participants of common issues related to communicating with other auditors and reporting between component and group auditors to approve audit efficiencies.

In this session, participants will:
1) Gain a better understanding of the requirements of AU-Section 600 - Special Considerations — Audits of Group Financial Statements (Including the Work of Component Auditors)
2) Become better equipped to identify common reporting and auditing issues related to using the work of component auditors

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

Jeremy Dillard - Partner, SingerLewak LLP
Michael Cheng - Partner, Frazier & Deeter
Marsha Hunt - Board Member, FASB
James Kroeker - Vice Chairman, Financial Accounting Standards Board (FASB)
Jeffrey Mechanick - Assistant Director, FASB

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

Jeremy Dillard - Partner, SingerLewak LLP
Michael Cheng - Partner, Frazier & Deeter
Marsha Hunt - Board Member, FASB
James Kroeker - Vice Chairman, Financial Accounting Standards Board (FASB)
Jeffrey Mechanick - Assistant Director, FASB

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

NAA1917. Artificial Intelligence in an A&A Practice

Robin Grosset - Chief Technology Officer, MindBridge
6/11 11:20AM12:10PM

NAA1915. Quality Control

Bob Dohrer - Chief Auditor, Association of International Certified Professional Accountants
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 1:25PM2:40PM

NAA1919. FAQs - Accounting

Mike Austin - CPA, Sr. Technical Manager, Association of International Certified Professional Accountants
Kristy Illuzzi - Senior Technical Manager, Association of International Certified Professional Accountants

In this session we will cover frequently asked questions coming through the Center for Plain English Accounting related to accounting and financial reporting, including FASB and special purpose frameworks.

6/11 1:25PM2:40PM

NAA1920. Variable Interest Entities

Michael Cheng - Partner, Frazier & Deeter

This session will provide a plain English overview of Variable Interest Entity guidance with a focus on private companies. We’ll also take a deeper dive into the private company accounting alternative finalized in Accounting Standards Update 2018-17, Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities.

Learning objectives:
1) Obtain a fundamental understanding of VIE guidance
2) Obtain a detailed understanding of the private company accounting alternative to scope entities under common control out of VIE guidance

6/11 3:40PM4:30PM

ENG1913. Blockchain, Part 1: The ABCs of Digital Disruption: B is for Blockchain (PST, NAA)

Kacee Johnson - Strategic Advisor, CPA.com

Blockchain is regularly viewed as one of the emerging technologies that will cause disruption within the accounting profession. It’s potential to change the way the world does business is real, but a clear understanding of exactly what blockchain is, has not been established mainstream. This session will present a brief overview of the history, function and benefits of blockchain technology. We will then explore the current state of blockchain technology, practical application, and how this innovation may impact the development and function of the accounting profession. Finally, we will identify some of the new ways that accounting firms will be building advisory services around the emerging trend.

Learning Objectives:
1) Recall the definition, origin and functions of blockchain technology
2) Identify the benefits and regulatory implications
3) Evaluate accounting functions that are or will be leveraging blockchain technology, now and in the future
4) Explore the opportunities in new advisory services for firms around blockchain

6/11 3:40PM4:30PM

NAA1921. Auditing Accounting Estimates

Tracy Harding - Principal, BerryDunn

This session will provide attendees an update on recent and proposed developments related to standards for auditing accounting estimates.

Learning objectives:
1) To improve participants' ability to audit accounting estimates by better understanding the requirements of professional standards
2) To help participants better understand recent and potential changes to those standards

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 3:40PM4:30PM

NAA1923. Single Audit Failures: Lessons from Quality Reviews

Brian Schebler - Managing Director, RSM US LLP

What has the biggest impact on single audit quality? The AICPA Peer Review Program conducted a study of single audit engagements and identified three factors that strongly correlated to quality performance. The study also provided insights into the most common areas of non-conformity in single audits and uncovered misconceptions that are creating challenges for practitioners. Learn more about the study results and the actions your firm can take in this session.

Learning Objectives:
1) Identify the factors that correlated to quality in single audits and the steps firms and SAOs can take to perform high-quality engagements
2) Understand the most common areas of non-conformity in single audits and what is required under professional standards

6/11 4:45PM6:00PM

ENG1916. Blockchain, Part 2: What’s Next (PST, NAA)

Amanda Wilkie - Consultant, Boomer Consulting,Inc

Do you understand the impact and opportunity blockchain offers the accounting profession? Are you asking "how" this innovative distributed technology will accomplish disruption and disintermediation of the world's current business models? This session provides blockchain believers and skeptics a deeper dive into the technology as we explore its role in tools, such as Smart Contracts, Decentralized Applications, and self-sovereign identity, along with the forthcoming disruption that will accompany these tools.

Learning objectives:
1) Receive in introduction to Smart Contracts, Decentralized Applications, and Self Sovereign Identity
2) Understand how blockchain is applied in these innovative concepts
3) Gain awareness of when these new tools will impact public accounting

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

NAA1925. ARSC Update & Audit and Attest FAQ

Denny Ard - Partner, DHG
Kristy Illuzzi - Senior Technical Manager, Association of International Certified Professional Accountants

This session will be an interactive discussion with a Panel of experts with respect to SSARSs engagements including, the Chair of the ARSC, the staff liaison to the ARSC, and the staff liaison to the Technical Issues Committee. The Panelists will walk participants through recently issued SSARS No. 24 and the proposed revisions to SSARSs with respect to materiality in a review engagement, the option of issuing an adverse review conclusion when financial statements are materially and pervasively misstated, and performance and reporting on contractual/regulatory framework financial statements. The Panelists will also discuss the ARSC’s joint project with the Auditing Standards Board to revise standards for agreed-upon procedures engagements as well as frequently asked questions received by the AICPA’s Center for Plain English Accounting.

Participants will learn:
1) The revisions to SSARSs as a result of the issuance of SSARS 24 - specifically with respect to international reporting issues, consideration of going concern in a review engagement, and the use of other accountants in a review engagement
2) Current SSARSs standard setting activities
3) The current status of the ARSC's joint project with the ASB to revise standards for agreed-upon procedures engagements to provide more flexibility to CPAs performing these services
4) The answers to frequently asked questions

6/11 4:45PM6:00PM

NAA1926. Basics of the New Lease Accounting Standards

Melisa Galasso - Owner, Galasso Learning Solutions LLC

After years of debate, the new Leases standard was issued in 2016. It will be effective for public companies for 2019 calendar year ends and private entities the following year. While it started out as a highly anticipated convergence project with the IASB, ASU 2016-02 did not result in convergence between the standard-setting boards. In this session, we will examine the impact of implementing the new standard on the balance sheet, income statement, and cash flow statement. We will discuss both the impact to lessees as well as lessors. This course will explore the practical realities of implementation while identifying topics that entities may need to consider as they implement the standard.

Learning objectives:
1) Define a lease under ASU 2016-02
2) Classify a lease as operating or finance under ASU 2016-02

Wednesday, June 12 2019

6/12 8:00AM9:15AM

ENG19K02. Professional Update

Barry Melancon - CEO, Association of International Certified Professional Accountants
William Reeb - CEO, Succession Institute,LLC
6/12 9:15AM9:40AM

ENG19WA01. 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 - Author & Speaker
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 11:30AM12:45PM

NAA1929. Methodology Providers Address Common Missteps

Amy Archer - Senior Manager, RSM US LLP
Carl Mayes - Associate Director - CPA Quality and Evolution, Association of International Certified Professional Accountants
Wayne Kerr - Principal Consultant, Thomson Reuters
Cathy Rowe - Product Manager, Accounting & Audit, Wolters Kluwer

Are you using your audit methodology appropriately? Or are common missteps impacting the quality of your work? The AICPA Peer Review Program has found that, in over half of all audits, the auditor is not properly identifying, assessing and responding to the risk of material misstatement in accordance with AU-C 315 and 330.

In this session, representatives from RSM, Thomson Reuters and Wolters Kluwer will instruct the audience on how to properly apply their methodologies, with a focus on the areas which are creating the most challenges for practitioners.

Learning objectives:
1) Identify the common missteps that are driving non-conformity with AU-C Sections 315 and 330
2) Learn how to properly apply three commonly used audit methodologies to avoid quality challenges in your practice

6/12 11:30AM12:45PM

NAA1927. FASB Not-for-Profit Update

Jeffrey Mechanick - Assistant Director, FASB

The FASB’s lead staff person for not-for-profits (NFPs) will brief you on the latest developments in GAAP affecting NFPs. He’ll discuss: key aspects of the FASB’s final standard on grants and contracts to NFPs (ASU 2018-08); implementation matters on other major recent standards, including NFP Financial Statements (ASU 2016-14), Revenue Recognition (Topic 606), and Leases (Topic 842); the FASB’s projects on collections and on goodwill of NFPs (final ASUs expected by then); and other noteworthy recent ASUs and projects-in-process.

Learning objectives:
1) Develop an understanding of the key provisions of ASU 2018-08 and how to apply them
2) Develop a general understanding of other recent ASUs affecting NFPs
3) Gain a general awareness of current FASB projects of significance for NFPs

6/12 1:55PM2:45PM

NAA1930. Yellowbook Update

James Dalkin - Director, Financial Management and Assurance Team, GAO

This session will provide an update on the 2108 Revised Yellow Book focused on the following: independence changes; financial statement preparation and independence; internal control considerations; reporting requirements on Fraud, Waste and Abuse; and guidance for reviews.

Learning objectives:
1) Understand the significant changes in the 2018 Revised Yellow Book
2) Determine the new documentation requirements

6/12 1:55PM2:45PM

NAA1931. Employee Benefit Plan A&A Update

Michael Auerbach - Chief Accountant, U.S. Department of Labor

This session will provide an update of: DOL reporting compliance enforcement programs, Audit quality update, various accounting, auditing, and reporting matters affecting employee benefit plans including a discussion of the proposed SAS on ERISA reporting for EBP audits, and progress on the Multi-employer chapter.

Learning objectives:
1) To understand the importance of employee benefit plan audits and the role the CPA plays in helping to protect participants and beneficiaries
2) Update CPAs on the current issues impacting auditors of employee benefit plans

6/12 1:55PM2:45PM

NAA1932. Sampling Applications

Lynford Graham - Visiting Professor, Bentley University

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

ENG1925. Enhancing Attest Workflow Beyond Digitizing (PST, NAA)

Alan Anderson - President, ACCOUNT-ability Plus

Attest services have seen technology tools built to digitize the workflow, but there has been little transformation of the processes and procedure. In this session, see how technology is being applied to FINALLY redesign how attest work is done, and creating opportunity spend more time on the insight, analytics, and advisory service that can and should be part of these engagements for clients. What’s Next for Blockchain? Smart Contracts, Decentralized Applications, & Self Sovereign Identity.

Learning objectives:
1) Understand the impact and opportunity blockchain offers the accounting profession
2) Discover how this innovative distributed technology will accomplish disruption and disintermediation of the world's current business models
3) Blockchain believers and skeptics will take a deeper dive into the technology as we explore its role in tools, such as Smart Contracts, Decentralized Applications, and self-sovereign identity, along with the forthcoming disruption that will accompany these tools

6/12 3:00PM3:50PM

NAA1933. Cybersecurity Risk Management and Impact on the Audit

Steven Ursillo - Partner, Cherry Bekaert, LLP
Brian Thomas - Partner, Weaver

As a result of the continued high-profile cyber-attacks on US organizations, the SEC and other regulatory agencies are focusing on risks relating to cyber security. This has resulted in updates to the SEC's disclosure guidance for public companies, the release of an investigative report on cyber fraud, and the inclusion of cybersecurity as part of the SEC's examination priorities for 2019. This session will explain how cyber should be considered in the risk assessment for audits and the audit procedures that may result.

Learning objectives:
1) Discover how regulatory agencies' focus on cyber is impacting accepted standards for how organizations manage cyber risk
2) Learn how auditors should interpret cyber risk as it relates to their audits
3) Determine what types of procedures should be executed as a result of the assessment of cyber risk

6/12 3:00PM3:50PM

NAA1934. Auditor's Report

Bob Dohrer - Chief Auditor, Association of International Certified Professional Accountants
Tracy Harding - Principal, BerryDunn

During this session participants will learn about the changes made by the AICPA Auditing Standards Board to the Auditor's Report for non-issuers.

Learning objectives:
1) Apply ASB auditing standards regarding the changes to the form and content of the revised Auditor's Report for non-issuers
2) Understand what is changing in the auditor's report and how key audit matters are addressed in GAAS

6/12 4:50PM6:05PM

ENG1927. SOC Cybersecurity (PST, NAA)

Jim Bourke - Partner, WithumSmith+Brown

In this session, Jim will overview the AICPA's new SOC for Cybersecurity offering. He'll share basic concepts of the offering as well as the differences between this service offering and the other existing SOC offerings.

Jim will cover everything from basic framework to sample report preparation and share sample deliverables and tools with the group.

Learning objectives:
1) Gain an understanding of the new AICPA SOC for Cybersecurity service offering
2) Understand the basics associated with reporting in this space
3) Understand the differences between the various SOC service offerings

6/12 4:50PM6:05PM

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

Lynford Graham - Visiting Professor, Bentley University

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

6/12 4:50PM6:05PM

NAA1936. Revenue Recognition: Software Technology

Tom Groskopf - Technical Director - CPEA, Barnes Denning

Thursday, June 13 2019

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.