Agenda
GENERAL SESSION
LAUNCH GENERAL SESSION
8:30 AM – 9:25 AM
KEYNOTE PRESENTATION: A&A Update for Small Businesses
Look at the recent activities of the FASB, the Auditing Standards Board (ASB), and Accounting & Review Services Committee (ARSC) that impact small businesses. Discuss the impact of the new standards and how you can prepare to implement them in a practical way. The course also includes a deep dive into private company reporting with a look at the Private Company Council as well as the AICPA Financial Reporting Framework for Small & Medium Entities (FRF-SME). This course is tailored to focus on topics primarily impacting smaller entities. It does not cover some of the more complex accounting requirements not commonly found in smaller entities.
Jaclyn Veno, CPA – Learning & Development Specialist, Galasso Learning Solutions, Charlotte, NC
Credits: 1.0 AA
1:10 PM – 2:00 PM
AFTER LUNCH KEYNOTE PRESENTATION: Accounting for Tax Accruals/Provisions
Session details are still being finalized.
Kenneth Heaslip, MBA, MS, CPA, CGMA – Managing Member/Group Discussion Leader, Kenn Heaslip Seminars, LLC, Livingston, NJ
Credits: 1.0 AA
CHANNEL ONE
9:35 AM – 10:25 AM
Risk Assessment for Private Entities
The AICPA has identified that one in ten audit firms are not compliant with the risk assessment standards. Discuss how to properly identify risks and assess risk under AU-C 315. Then discuss how to respond to identify risks under AU-C 330. Focus on the audit risk model and focus on both inherent risk and internal controls. We’ll discuss common deficiencies and how risk assessment can be used to perform a more efficient and effective audit.
Jaclyn Veno, CPA – Learning & Development Specialist, Galasso Learning Solutions, Charlotte, NC
Credits: 1.0 AA
10:35 AM – 11:25 AM
Risky Business: Evidence and Analytics
Assessing the evidential value of analytical procedures, both simple and complex, presents unique challenges to auditors. The latest Evidence Standard provides some clarification on how to apply analytical procedures to provide audit evidence and assess value. We demonstrate a framework for integrating analytical procedures and artificial intelligence into the audit.
Lynford Graham, CPA, PhD, CFE – Short Hills, NJ
Credits: 1.0 AA
11:35 AM – 12:25 PM
The Trendy Fraudster: 2023 Hottest Schemes & How to Avoid (Second Offering)
The Association of Certified Fraud Examiners (ACFE) recently released their 2022 summary of occupational fraud, revealing that 12% of fraud cases in their case study happened in accounting departments. Find out how fraudsters are getting past company defenses and what you can do to mitigate organizational risk and we will also identify how fraud in a client company can create issues for the tax preparer.
James P. Martin, CMA, CIA, CFE – Managing Director, Cendrowski Corporate Advisors, LLC, Bloomfield Hills
Credits: 1.0 AA
2:10 PM – 3:00 PM
Hitting Refresh on SSARS
How do you interpret the statements on standards for accounting and review services (SSARS)? Join us for a quick refresher on preparation, compilation and review standards, including the latest on SSARS interpretations and common issues in peer review.
Dr. Christopher Harper, CPA, MBA – Director of Education & Affiliate Instructor, Grand Valley State University Seidman College of Business, Grand Rapids
Credits: 1.0 AA
3:10 PM – 4:00 PM
Accounting for Trusts: A Guide to Fiduciary Concepts
As with all branches of accounting, fiduciaries have a specific set of regulations to consider when managing client affairs. We discuss the Uniform Principal and Income Act, including mandatory and discretionary allocation and adjustments, trust accounting statements and fallback rules – plus, knowing when and how to exercise the ability to override them.
Raymond T. Rowe, CPA, JD – Attorney, Raymond T. Rowe, PC, Troy
Credits: 1.0 AA
4:10 PM – 5:00 PM
Love It or Lease It: Lessons in Implementation
Are you falling head over heels for the ASC 842 Lease Accounting Standard? Avoid the most common trip-ups associated with its implementation by analyzing lessons learned and reviewing potential audit issues.
Duane Reyhl, CPA, CGMA – Audit and Accounting Partner, AHP, Midland
Credits: 1.0 AA
CHANNEL TWO
9:35 AM – 10:25 AM
Fundamentals of Internal Control
Businesses have long faced the internal control struggle and the struggle is real. An organization’s structure, work processes, employees and information systems play a big part in how internal controls are formed. Discover who maintains responsibility for internal controls, methods to identify and document internal controls and even with the best laid plans why they are not infallible.
Robert W. Cheyne – Advisory Senior Associate, Clayton & McKervey PC, Southfield
Credits: 1.0 AA
10:35 AM – 11:25 AM
The Trendy Fraudster: 2023 Hottest Schemes & How to Avoid
The Association of Certified Fraud Examiners (ACFE) recently released their 2022 summary of occupational fraud, revealing that 12% of fraud cases in their case study happened in accounting departments. Find out how fraudsters are getting past company defenses and what you can do to mitigate organizational risk and we will also identify how fraud in a client company can create issues for the tax preparer.
James P. Martin, CMA, CIA, CFE – Managing Director, Cendrowski Corporate Advisors, LLC, Bloomfield Hills
Credits: 1.0 AA
11:35 AM – 12:25 PM
Peering Into the Rearview: What’s Behind & What’s Ahead for Peer Review
From updated manuals to enhanced oversight, find out what’s new in Peer Review. Plus, get the latest on what initiatives the AICPA is undertaking in 2023 to enhance audit quality.
Alan Long, CPA, CITP, CGMA – Managing Member, Baldwin CPAs, Richmond, KY
Credits: 1.0 AA
2:10 PM – 3:00 PM
Accounting & Auditing Issues Related to ESG
The public and investor interest on an organization’s impacts continue to grow as PwC’s 2021 Consumer Intelligence Series Survey reveals 76% of consumers said they would discontinue relations with companies that treat employees, communities and the environment poorly. In 2021, 95% of larger companies reported on ESG matters, according to a recent AICPA, CIMA & International Federation of Accountants (IFAC) report, but much of the data being tracked continues to be fragmented, lacking consistency, comparability and quality. Examine the top issues facing ESG auditing and accounting, including broadening CPA responsibility, attestation rules and major changes to measuring materiality, among other things.
Jeffery S. Aughton, CPA – Partner, Deloitte, Boston, MA
Alan Reinstein, CPA – George R. Husband Professor of Accounting, Wayne State University, Detroit
Kyle Urek – Managing Director, Deloitte & Touche, Detroit
Credits: 1.0 AA
3:10 PM – 4:00 PM
Cannabis Accounting & Attestation Issues
Cannabis companies are subject to increased scrutiny of accounting records by multiple taxing agencies and the Cannabis Regulatory Agency. Don’t miss this opportunity to extract some documentation and accounting best practices, updated for 2023, that span the length of your budding business (or professional practice). We’ll also concentrate on the 2023 updated Annual Financial Statement, processing its nuances and changes. We’ll also provide a brief overview of the peer review process applicable to practitioners providing attest services and how to select a firm for your Annual Financial Statement.
Kaleb Grapp – Partner, Grapp Lerash, Saginaw
Credits: 1.0 AA
4:10 PM – 5:00 PM
Ethical Considerations: Tips for Navigating NOCLAR
When it comes to handling the transition of clients between different audit service providers, ethics dictate that concerns regarding fraud or noncompliance be shared. In fact, two AICPA committees are dedicated to providing clarity around these circumstances. Find out what your obligations are according to the Auditing Standards Board (ASB) and the Professional Ethics Executive Committee and walk away with a better approach to both employer and client noncompliance with laws or regulations (NOCLAR).
Raymond T. Rowe, CPA, JD – Attorney, Raymond T. Rowe, PC, Troy
Credits: 1.0 ET