SEC Conference 2017: An Accounting & Reporting Update for Public Companies

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Discover what you need to do now about the latest developments—from SEC regulators, Big 4 leaders and industry experts

SEC Conference 2017: An Accounting & Reporting Update for Public Companies

CPE Credit: 18 Hours

Price: $1,445.00

NASBA Field of Study: Accounting

 

Overview

The SEC is increasingly targeting financial reporting issues. In the past two years alone, the number of SEC financial reporting cases has more than doubled.

At this conference, you will receive all the information you need relating to these issues—directly from the source. This is the one SEC Conference that provides you with the latest updates and expert guidance from current SEC and PCAOB regulators—including the SEC’s Divisions of Enforcement and Corporation Finance—plus Big 4 leaders and other experts.

 

AGENDA HIGHLIGHTS


•  Key SEC Developments

•  FASB Projects Update

•  Accounting for Leases: Implementation and Transition for Lessees and Lessors 

•  FCPA Enforcement Trends and Focus on Remediation

•  SEC Enforcement Initiatives

•  Revenue Recognition Standard: Transition and Implementation

•  SOX Risk Benchmark—Determine if Your SOX Program Needs a Refresh

•  Financial Instruments: Recently Issued Standards and Guidance on the Horizon

•  Public Company Auditing Update

•  Frequently Encountered Accounting and SEC Reporting Topics

 

LEARNING OBJECTIVE  To provide financial professionals with an update on the key issues and regulations that impact the financial
accounting and reporting of listed companies.

PREREQUISITE  None.    ADVANCE PREPARATION  None.    PROGRAM LEVEL  Update.   NASBA FIELD OF STUDY  Accounting.
DELIVERY METHOD  Group-Live.

 

This program is also available via live webcast
SEC Conference 2017: An Accounting & Reporting Update for Public Companies Webcast

Agenda

DAY ONE AGENDA*


Deluxe Continental Breakfast & Registration
8:15
 – 8:45 AM

Welcome & Opening Remarks
8:45
 – 9:00 AM

Key SEC Developments
9:00
 – 10:30 AM
Initiatives in the Division of Corporation Finance
Overview of key SEC Initiatives and recent rulemaking activities, including:
  − Disclosure Effectiveness Initiative
Finalizing rules to update Regulations S-K and S-X, eliminating redundant, duplicative disclosure
  − Finalizing amendments to increase threshold for smaller reporting companies
  − Issuers’ implementation of Revenue Recognition and Leases Standards and controls related to the
     implementation

  − Enforcement update

Break
10:30
 – 10:45 AM

Key SEC Developments (continued) 
10:45 AM – 12:30 PM
SEC comment letter trends
Non-GAAP financial measures (continued monitoring of use of non-GAAP measures)
Loss contingencies
Joint ventures, strategic alliances and other collaborative arrangements as they relate to new
  VIE guidance

  − MD&A
  − Revenue recognition
  − Goodwill impairment
  − Acquisitions and business combinations
  − Income taxes
  − Segment reporting
  − ICFR
Working with SEC staff
  − Recent developments
  − Filing review process
  − Best Practices in resolving comments and outstanding issues

Luncheon
12:30
 – 1:15 PM

FASB Projects Update
1:15 – 2:30 PM
FASB current active agenda
Recently completed projects and related implementation issues
Recently issued exposure drafts and other formal projects 
Accounting updates with upcoming effective dates
Disclosure effectiveness
Simplification projects
EITF update

Break
2:30
 – 2:45 PM

Accounting for Leases: Implementation & Transition for Lessees & Lessors 
2:45
 – 4:15 PM
Purpose and scope of the new Leasing Standard
Transition methods and effective dates
Understanding the definition of a lease
Separating lease and non-lease components
Key definitions and concepts (lease term, commencement date, lease payments, discount rate)
Issues to be discussed include:
   – Lease classification and financial statement impact
   – Lessee and lessor accounting and presentation

Transition and disclosure
   – Enhanced qualitative and quantitative disclosures
   – Evolving SAB 74 disclosures

Impact the New Standard will have to ICFR
Implementation considerations, including impact to processes and systems

FCPA Enforcement Trends & Focus on Remediation 
4:15
 – 5:30 PM
Today, the government is continuing to bring record numbers of FCPA prosecutions. Recent DOJ and SEC guidance focuses upon companies’ efforts to self-police before a violation, and efforts to remediate after violations occur. The DOJ and SEC have recently begun imposing corporate monitors more frequently, pointing to a failure of companies under investigation to remediate. In this informative session, corporate governance experts from EY and law firms will discuss their Best Practices for:
Developing and maintaining a compliance program that is sufficient to deter and detect potential
  FCPA violations, including by implementing Best Practices and periodically auditing the corporate
  compliance program

Remediating, in real time, violations that do occur, such as by assessing why the compliance
  program did not detect and deter the violation

Working, in the context of an ongoing government investigation, to remediate issues with the
  corporate compliance program before it’s too late

Cocktail Reception
5:30
 – 6:30 PM
 

DAY TWO AGENDA*


Deluxe Continental Breakfast
8:00
 – 8:30 AM

SEC Enforcement Initiatives
8:30
 – 10:00 AM
SEC enforcement priorities
Recent financial reporting and disclosure cases
SEC investigation process and case sources—restatements, self-reporting, whistleblowers
Review and focus of recent cases:
  – Revenue recognition
  – Expense recognition
  – Earnings management
  – Focus on individuals and gatekeepers
  – ICFR and disclosure controls
  – Valuation and impairment issues

Whistleblower update
Insider trading
Continued focus on cybersecurity

Break
10:00 – 10:15 AM

Revenue Recognition Standard: Transition & Implementation
10:15 AM – 12:00 PM
Background and overview 
• Five Step Model for Recognizing Revenue
• Other considerations

  – Licenses
  – Principal vs. agent considerations and more
• Disclosures

  – Disaggregation of revenue
  – Reconciliation of contract balances
• SAB 74 considerations—transparent disclosures about the effect of implementation
• Transition Resource Group Consensus and industry task forces update
• Transition considerations

  – Effective date and adoption methods
  – Transition examples
• Implementation issues

  – Project management and internal dynamics
  – Issue analysis
  – Transactions and deals
  – Technology and systems
  – Communications

Luncheon
12:00
 – 12:45 PM

SOX Risk Benchmark—Determine if Your SOX Program Needs a Refresh 
12:45 – 2:00 PM
This interactive session features an innovative live video poll on SOX Risk Assessment Factors. Participants will be shown a list of risk indicators and will be able to respond anonymously, if the risk indicator is relevant to their situation. The result totals will be shown on screen in real time. It will shine a spotlight on critical factors that may indicate your risk assessment approach may not be sufficiently designed to achieve its intended objective—reliable financial reporting. This session will provide you with leading practices for designing a robust risk assessment program, including effective ways to manage people and processes while utilizing innovative tools and technologies.

Financial Instruments: Recently Issued Standards & Guidance on the Horizon 
2:00
 – 3:00 PM
The FASB is revisiting the accounting for financial instruments. The FASB issued two of its three financial instruments standards: recognition and measurement, and allowance for credit losses. The third part of the accounting for financial instruments project is in process. The discussion will cover:
Background and scope of the standards
The key changes in recognition and measurement
   – Accounting for investments in equity securities

   – Impairment of equity securities without readily determinable fair value
   – Liabilities measured using the Fair Value Option
   – Presentation and disclosure of financial assets and financial liabilities
Key changes to the allowance for credit losses standard
   – What’s changed from the current “incurred loss” model
   – Scope of the impairment models
   – ASC 310-30 (formerly SOP 03-3) accounting
   – Impairment for AFS debt securities
   – Presentation and disclosure
   – Transition: TRG focused on the new credit loss guidance
Transition decisions on the new hedging guidance
   – Assessment and measurement of ineffectiveness
   – Hedging of nonfinancial items
   – Financial hedging
   – Other targeted improvements

Break
3:00
 – 3:15 PM

Public Company Auditing Update 
3:15 – 4:15 PM
Review of PCAOB inspections findings
  – Issues related to ICFR
  – Assessing and responding to risk of material misstatement
Standard setting and related activities:
  – Improving the transparency of audits
  – Auditors’ use of specialists
  – Auditing accounting estimates and fair value measurements
PCAOB expected areas of focus in 2017

Frequently Encountered Accounting & SEC Reporting Topics 
4:15
 – 5:15 PM
This session will focus on complex and challenging accounting and SEC reporting topics that are frequently encountered by accounting professionals of public companies. Areas of discussion will include:
Non-GAAP measures
New accounting disclosures
Consolidations
Segment reporting
Financial statement presentation
Statement of cash flows
Definition of a business

Conference Ends
5:15 PM

 

* PLEASE NOTE: Session topics and times are subject to change based on location and speaker availability. Please call 1-800-544-1114 for specific agenda details.

 

This program is also available via live webcast
SEC Conference 2017: An Accounting & Reporting Update for Public Companies Webcast

Speakers

CONFERENCE SPEAKERS


CURRENT REGULATORS

Anne McKinley, Assistant Regional Director, Division of Enforcement, SEC

Andrew Mew, Senior Assistant Chief Accountant, Division of Corporation Finance, SEC

Erin Schneider, Associate Regional Director, Division of Enforcement, SEC

Shamoil T. Shipchandler, Regional Director, Fort Worth Regional Office, SEC

Alexander Vasilescu, Regional Trial Counsel, SEC

George Wilfert, Deputy Director, Office of Research and Analysis, PCAOB
 

FORMER REGULATORS

Peter K.M. Chan, Partner, Morgan Lewis, former Head of Municipal Securities and Public Pensions Unit, SEC

Michael Dicke, Partner, Fenwick & West LLP, former Associate Regional Director, Division of Enforcement, SEC

Rani Doyle, Partner, Morgan Lewis, former Special Counsel, Division of Corporation Finance, SEC

Ryan Evans, Partner, KPMG, former Professional Accounting Fellow, SEC

Louis Fanzini, SVP Deputy Controller, TD Bank, former FASB Industry Fellow, FASB

Gautam Goswami, Partner, National Assurance, BDO, former Practice Fellow, FASB

Steven C. Jacobs, Partner, Ernst & Young LLP, former Associate Chief Accountant, Division of Corporation Finance, SEC

Henry Klehm III, Partner, Jones Day, formerly in the Division of Enforcement, SEC

Chad Kokenge, Partner, PwC, former Professional Accounting Fellow, Office of the Chief Accountant, SEC

David Lee, Corporate Partner, K&L Gates, former Special Counsel in the Office of Chief Counsel, Division of Corporation Finance, SEC

Susan Markel, Managing Director, AlixPartners, former Chief Accountant, SEC

James Moloney, Corporate Partner, Gibson, Dunn & Crutcher LLP, former Special Counsel, Division of
Corporation Finance, SEC

Brad Mroski, Director, AlixPartners, former Assistant Chief Accountant, Division of Enforcement, SEC

Christian Peo, Partner, KPMG, former Professional Accounting Fellow, Office of the Chief Accountant, SEC

Thomas Ray, Distinguished Lecturer, Baruch College, CUNY, former Chief Auditor and Director of Professional Standards, PCAOB

Susan Resley, Partner, Morgan Lewis, formerly in the Division of Enforcement, SEC

Don Walker, Managing Director, Donald Walker Consulting, former Senior Assistant Chief Accountant, Division of Corporation Finance, SEC

David Woodcock, Partner, Jones Day, former Regional Director, Fort Worth Regional Office, SEC
 

CORPORATE LEADERS, BIG 4 & OTHER MAJOR ACCOUNTING FIRMS

Chris Ackerlund, Financial Reporting and Policy, Bank of America

Chip Currie, Partner, PwC

Nick Daddario, Vice President Assistant and Corporate Controller, Starwood Hotel & Resorts

Heather Dixon, Vice President and Assistant Controller, Aetna

Patrick G. Durbin, Partner, PwC

Damon Farley, Executive Director, Ernst & Young LLP

Shelley Finn, Senior Principal/Director, Accounting Policies, DCX Technology

M. Sean Hartford, Controller and Principal Accounting Officer, Rosetta Stone, Inc.

Ashima Jain, Managing Director, PwC

Mark Jerusalem, Director, PwC

Pavel Katsiak, Director, PwC

Sarah Kenny, Director, PwC

Allen Klingsick, Senior Vice President and Chief Accounting Officer, Hilton Grand Vacations

Jason Larkin, Senior Manager, Ernst & Young LLP

Eric Lewis, Partner, Ernst & Young LLP

Reto Micheluzzi, Partner, PwC

Michael Nesta, Partner, KPMG

Angela Newell, National Assurance Partner, BDO

Beth Paul, Partner, PwC

Jeremy Potts, Director, Capital One

Eliot Powell, Director, PwC

Darren Robb, Senior Vice President and Chief Accounting Officer, Park Hotels and Resorts

Lynn Rogers, Senior Vice President, External Reporting, Bank of America

Brandon Rowland, Ernst & Young LLP, Assurance Partner

Sherif Sakr, Partner, Deloitte & Touche LLP

Patricia Salkin, Managing Director, Deloitte & Touche LLP

Bill Schneider, Director, Accounting, AT&T

Chris Smith, Partner, PwC

Amie Thuener, SEC Reporting, M/A Finance, Google

Gabor Turschl, SEC Reporting and Technical Accounting, Google

Julie Valpey, Assurance Partner, National SEC Department, BDO

Rob Watson, Director and Controller, Global Commercial Banking, Bank of America
 

LEGAL & OTHER SEC REPORTING SPECIALISTS

Stephen Fackler, Partner, Gibson, Dunn & Crutcher LLP

Sean Feller, Partner, Gibson, Dunn & Crutcher LLP

Steve Spiegelhalter, Principal, Ernst & Young LLP, former Trial Attorney (Criminal Division, Fraud Section, FCPA)

John Tang, Partner, Jones Day

Michael Ussery, Principal, Pt. Platinum Consulting

Robyn Zolman, Partner, Gibson, Dunn & Crutcher LLP

 

This program is also available via live webcast
SEC Conference 2017: An Accounting & Reporting Update for Public Companies Webcast

Forum

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Location

CPE INC. has reserved a block of rooms at preferential rates. To make your hotel reservation,
call CPE INC. or the hotel’s reservation department and ask for the CPE INC. special room rate.

 

Four Seasons Hotel Chicago
120 East Delaware Place
Chicago, IL 60611
(312) 280-8800

 

Tysons Corner Marriott
8028 Leesburg Pike
Tysons Corner, VA 22182
(703) 734-3200

 

The Camby Hotel
2401 East Camelback Road
Phoenix, AZ 85016
(602) 468-0700

 

The St. Regis Houston
1919 Briar Oaks Lane
Houston, TX 77027
(713) 840-7600

 

InterContinental New York Times Square
300 West 44th Street
New York, NY 10036
(212) 803-4500

 

San Mateo Marriott San Francisco Airport
1770 South Amphlett Boulevard
San Mateo, CA 94402
(650) 653-6000

 

This program is also available via live webcast
SEC Conference 2017: An Accounting & Reporting Update for Public Companies Webcast

Increase your savings by taking one or more of our pre- and post-conference workshops. Pricing is as follows:

Conference: $1445
Workshop: $595
Conference & One Workshop: $1850
Conference & Two Workshops: $2150

In addition to these discounts, you may be entitled to Early Bird and Customer Loyalty Discounts.
To take advantage of these discounts, please enter your reference number at checkout.