This virtual conference will be held during two consecutive 4-hour days (8:30 am - 12:10 pm on June 8 & 8:30 am - 12:20 pm on June 9).
Please note that when you register for this conference you are automatically registering for both days.
This CTCPA conference discusses the most relevant issues facing the accounting profession today.
FASB Update with Technical Director Hillary Salo
Understanding and Implementing FASB’s New Leases Standard (Topic 842)
Common Peer Review Findings on Attest Engagements
Update on Standards for Audits and Attestation Engagements
Risks, Uncertainties and Going Concern
Financial Statement Fraud in Small Businesses
CPAs in public practice and industry
By registering for this program and, accordingly, receiving the eMaterials, you're acknowledging that you understand both the copyright restrictions on your eMaterials and the CTCPA cancellation policy.
Tuesday, June 8
Presented by: Hillary H. Salo - Technical Director, Chair, Emerging Issues Task Force of the Financial Accounting Standards Board (FASB)
Additional speaker details coming soon.
During this one-hour session, FASB Technical Director Hillary Salo will discuss the FASB’s priorities, including its post-implementation review of the leases, credit losses, and revenue recognition standards. She’ll also talk about what standards you need to know about now, major projects on the FASB’s agenda, as well as how stakeholders—including private companies and organizations—can help shape future FASB priorities through the Board’s upcoming agenda consultation project
Presented by: Pete Ugo, CPA - Partner at Crowe LLP
Sean Prince - Partner, Assurance Professional Practice (National Office), Crowe LLP
FASB's new Leases standard is here! Effective for CY 2020 (FY 2020-2021) for public business entities and not-for-profits with conduit debt (after the optional one-year deferral in ASU 2020-05) and soon after for all others, Topic 842 will significantly change the way in which leases are reported in financial statements. This session will primarily focus on lessee accounting and discuss the key elements of the new standard, especially those requiring significant judgment, including some real-life examples.
Presented by: Salvatore A. Collemi, CPA - Managing Member & Founder, Collemi Consulting & Advisory Services, LLC
The session's goal is to provide real life examples of where practitioners have been challenged in either performing and/or documenting their procedures and how you can avoid in becoming the next statistic by peer reviewers and regulators. You will learn common pervasive A&A, quality control and independence issues noted during AICPA peer reviews and internal inspections conducted by CPA firms. When you complete this seminar, you will be able to understand the common pitfalls and to avoid where practitioners have had difficulties in either performing and/or documenting their procedures.
Wednesday, June 9
Presented by: Michael P. Glynn, CPA, CGMA - Senior Manager, Audit & Attest Standards Team, AICPA
This session will be an interactive session with a senior technical manager with the AICPA’s Audit & Attest Standards Team. The session will include an in-depth discussion of the new auditor reporting standards – which are effective for audits of financial statements for periods ending on or after December 15, 2021. The session will also include discussion of recently issued standards for agreed-upon procedures engagements and examinations which provide increased flexibility for practitioners performing such engagements as well as other recently issued and proposed auditing standards.
Presented by: Melisa Galasso, CPA, CPTD - Founder and CEO, Galasso Learning Solutions LLC
The COVID-19 pandemic further highlighted the importance of providing users of financial statements with information concerning risks and uncertainties. While certainly no one was predicting a global pandemic, different entities have weathered the pandemic differently. This course will review the requirements for risk and uncertainty disclosures, while providing example disclosures. Then we will turn our attention to the accounting and auditing requirements for going concern. Many businesses did not weather the pandemic, while many others are still not sure they will be able to continue under the current operating requirements. This course will provide a look at best practices in disclosures as well as the auditor’s responsibility for going concern as emphasized in SAS 134.
After attending this session, participants will be able to recall key disclosures related to risks, uncertainties and going concern, and identify changes to the auditor’s report for going concern.
Presented by: Dr. Robert K. Minniti, DBA, CPA, CFE, Cr.FA, CVA, MAFF, CFF, CGMA, PI - President and Owner of Minniti CPA, LLC
If you are an accountant, auditor or a preparer of financial statements you need to be aware of the red flags for fraud in the financial statements of small businesses. Other users of the financial statements including shareholders, regulators, and creditors, will also find this useful. We will discuss potential red flags for fraud in the financial statements including the types of transactions that can be used to create fraudulent financial statements. We will review frauds conducted by employees and business owners. Real world examples will be provided with an emphasis on fraud in nonpublic businesses.
This course is appropriate for CPAs, CMAs, CFFs, CGMAs, MAFFs, internal auditors, CIAs, external auditors, managers, CFOs and others responsible for financial statement preparation or review.
Non-Member Price $394.00
Member Price $269.00