SEC Conference 2020: 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.
 

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SEC Conference 2020: An Accounting & Reporting Update for Public Companies

CPE Credit: 18 Hours

Price: $1,445.00

NASBA Field of Study: Accounting

 

Overview

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.

In this exclusive Conference, you'll be brought up to speed on how to effectively deal with all of the new financial accounting and reporting requirements, regulations, and the impact of COVID-19 (Coronavirus), from the FASB, SEC, PCAOB, IASB, AICPA and other rulemakers.
 

DAY ONE AGENDA HIGHLIGHTS


•  Key SEC Developments

•  ESG & Financial Reporting        

•  FASB Update

•  Financial Instruments: Credit Losses (ASC Topic
   326) & Current Expected Credit Loss (CECL)
   Model

 

DAY TWO AGENDA HIGHLIGHTS


•  SEC Enforcement Issues

•  Public Company Auditing Update

•  Deep Dive Into SEC Comment Letter Trends

•  Recent Developments in Business
   Combinations, including Goodwill and
   Impairments

•  Financial Accounting & Reporting Impact of
   Change to LIBOR Reference Rate

•  Internal Controls—Hot 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 webinar
SEC Conference 2020: An Accounting & Reporting Update for Public Companies Webinar

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
SEC Commission & Staff Changes
  – Staff/administration leadership focus

SEC Reporting in the COVID-19 Environment
  – Deferral of Exchange Act reports
  – Corp Fin Disclosure Topic No. 9
  – Non-GAAP Measures
SEC Financial Disclosure Rulemaking
  – Change to non-accelerated filer definition
  – New definitions of accelerated and large accelerated filers
  – Amendments to Rule 3-10 and Rule 3-16
    Guaranteed debt or debt-like securities
  – Rule 3-13 Waiver requests
    S-X Rule 3-13 relief
    SEC staff waiver requests
  – Amendments to Rule 3-05 and Article 11
    Changes to reporting acquisitions and dispositions
    Reduced Requirements for Registration Statements
    Pro Forma Information
    Disclosure Effectiveness
Proposal to Modernize & Simplify Certain Parts of Regulation S-K
Inline XBRL

Break
10:30
 – 10:40 AM

Key SEC Developments (continued) 
10:40 AM – 12:25 PM
SEC Interpretive Guidance
  – Key performance indicators and metrics in MD&A
Critical Audit Matters (CAMs)
  – Applicability of CAM Reporting
  – Communication
  – Early observations and examples
Cybersecurity
  – Disclosures
  – Best practices
  – SEC enforcement priority
Legislative Update
  – JOBS Act 3.0
  – Financial services reform
SEC Reporting Implications of FASB Transition Approach—Credit impairment (ASC 326)
  – Key disclosure changes
  – COVID-19 implications
SEC Staff Comments and Trends
  – SEC staff focus areas
  – ASC 606, Revenue from Contracts with Customers
  – Non-GAAP measures
  – MD&A
  – Goodwill issues
CARES Act Accounting Issues
  – Paycheck Protection Program (PPP)
  – Loan Modifications related to COVID-19

Lunch
12:25
 – 1:10 PM

ESG & Financial Reporting
1:10 – 2:40 PM
The focus on environmental, social and governance issues continues to accelerate as investors and other stakeholders are increasingly looking to understand and assess material ESG factors in their investment, purchasing and employment decisions. This panel will discuss the key drivers demanding corporate attention on ESG, and how financial reporting teams can help companies to identify, assess and disclose ESG issues in ways that increase trust with stakeholders and enhance corporate reputation and long-term value.

Break
2:40 – 2:45 PM

FASB Update
2:45 – 4:00 PM

FASB Current Active Agenda
Recently Completed Projects & Related Implementation Issues
Recently Issued Exposure Drafts & Other Formal Projects 
Accounting Updates with Upcoming Effective Dates

Disclosure Effectiveness
Simplification Projects
EITF Update

Break
4:00 – 4:05 PM

Financial Instruments: Credit Losses (ASC Topic 326) & Current Expected Credit Loss (CECL) Model
4:05 – 5:20 PM

The FASB’s New Standard on Credit Losses changes the accounting rules for impairment of financial instruments by adding a CECL model based on expected losses rather than incurred losses. This session will focus on:

CECL Core Concepts
  – Amortized cost
  – Contractual life of an asset
  – Available relevant information
  – Risk of loss
  – Key changes from Incurred to Expected loss
Impact to Trade Receivables
  – Methodology considerations—accounts receivable
  – Level of aggregation
  – Developing the loss estimate
  – Method using an aging schedule
Recent Developments
  – Freestanding insurance contracts
  – CARES Act
  – COVID-19
  – Summary of CECL disclosures—Q1 2020
  – Estimated impact of ASC 326 adoption (non-banks)
CECL Implementation Considerations
  – Effective date and transition
  – New disclosure requirements
  – Changes to process and controls
AFS Debt Security Impairment Model
  – What’s changing
     – Current guidance vs. New Standard
  – Determining whether a Credit Loss exists
  – Confirming credit loss and measuring allowance
  – Transition considerations

 

DAY TWO AGENDA*


Deluxe Continental Breakfast
8:15
 – 8:45 AM

SEC Enforcement Issues
8:45 – 10:15 AM
SEC Enforcement: The Current Landscape
Current SEC Commissioners
New SEC Enforcement Policy Focus: Technology & Individuals
SEC Enforcement Actions, Penalties & Trends
The Share Class Initiative Influenced Trends in FY 2019
SEC Whistleblower Program Update & Awards
Arsenal of SEC Enforcement Weapons
Examples of Specific Risks for the Initiation of SEC Investigations
Accounting Areas of Focus
Recent Accounting & Reporting Case Examples

Recent Cases Against Individual Auditors & Accountants
Litigated Financial Fraud & Auditor Cases
Recent FCPA Cases
SEC Focus on Cyber: Disclosure, Internal Controls, Cryptocurrency, etc.
Insider Trading
Questions

Break
10:15
 – 10:20 AM

Public Company Auditing Update
10:20 – 11:35 AM
The PCAOB’s 2019-2023 Strategic Plan
Inspections Outlook for 2020
Reporting & CAMs
  – Auditor reporting overview
  – Auditor reporting model—Phase 2: CAMs
  – Communication of critical audit matters
  – How will auditors determine CAMs
  – What will auditors communicate about CAMs
  – Language to be used in communicating CAMs
  – Will auditors disclose on “original information?”
  – Early learnings and trends
Internal Controls Over Financial Reporting
  – Relationship of disclosure controls and procedures and ICFR
  – Management review control challenges

  – Evaluation of a deficiency
  – SEC Report of Investigation regarding certain cyber-related frauds perpetrated against public
     companies and related accounting controls requirements

  – Consideration of cybersecurity incidents
Standard Setting

  – Standard setting updates: PCAOB’s current activities
  – Strengthened requirements related to auditing accounting estimates and fair value measurements
  – New standards addressing the use of specialists
  – Use of other auditors
  – Quality control standards, including assignment and documentation of firm supervisory
     responsibilities

  – Research agenda

Break
11:35
 – 11:40 AM

Deep Dive Into SEC Comment Letter Trends
11:40 AM – 12:40 PM
The SEC Division of Corporate Finance’s filing review process is a key function utilized by the SEC staff to monitor the critical accounting and disclosure decisions applied by registrants. Comments are based primarily on a company’s disclosure and other public information, such as websites, press releases, and analyst calls. Nonpublic information, such as whistleblower tips and PCAOB inspection reports, can also be a source of comments. Recent significant changes in ASC topics are responsible for many comments, however that does not tell the whole story. There are often recurring themes.
In this session, SEC experts will explore these recurring themes that should be observed and understood when crafting financial statement disclosures, MD&A disclosures, and investor presentations. In addition, they will also explain the comment letter process and best practices for responding to SEC comment letters and effectively closing a filing review.

Lunch
12:40 – 1:25 PM

Recent Developments in Business Combinations, including Goodwill and Impairments
1:25 – 2:25 PM
Overview of Business Combination Accounting
  – Basic definition and key accounting concerns
  – Control obtained through non-traditional events
  – Business combinations vs. asset acquisitions
  – ASU 2017-01—definition of a business
  – Goodwill arising from a business combination
• The “Acquisition Method” (ASC 805): Five Steps
  – Identify the acquirer
  – Determine the acquisition date
  – Measure the consideration transferred
  – Recognize and measure the identifiable assets acquired and liabilities assumed
  – Recognize and measure goodwill or gain from bargain purchase
• Acquisition-Method Accounting—“Pushdown Accounting”
  – Allocation of purchase consideration—assets and liabilities
  – Calculation of goodwill
  – Reconciliation of acquirer investment to opening equity
• Examples & Case Studies
  – Reverse mergers
  – Consolidation, deconsolidation and other changes in Investee/Acquiree Equity
  – Contingent consideration—equity vs. liability classification
  – Equity classification for earn-outs
  – Measurement-period adjustments

Break
2:25
 – 2:30 PM

Financial Accounting & Reporting Impact of Change to LIBOR & Other Reference Rates
2:30 – 3:45 PM
The upcoming phase-out of the London Inter-bank Offered Rate (LIBOR) in favor of alternative reference rates will lead to extensive changes to global finance. LIBOR is used extensively in the US and global markets as a reference interest rate in a broad range of financial instruments and commercial agreements, but the banks that report information used to set this rate will no longer be required to do so after 2021. Regulators in various jurisdictions have been working to replace LIBOR and other interbank-offered rates with reference interest rates that are more firmly based on actual transactions from liquid markets. The transition to new reference interest rates will require countless contracts, such as derivative contracts and variable rate debt agreements, to be modified. Accounting changes to contracts stemming from reference-rate reform could be costly and burdensome to apply and could have significant effects on financial reporting, including increased earnings volatility.
This session will focus on the accounting impact from the LIBOR transition including:

Hedge accounting and inventorying all hedge accounting elections
Debt agreements and modifications
Discount rate development applied in key models such as lease accounting and fair valuation

Establishing a process to inventory applicable instruments, implementing controls to ensure any
  practical expedients elected are eligible

Break
3:45
 – 3:50 PM

Internal Controls—Hot Topics
3:50 – 5:20 PM
This session will provide an update on current trends associated with a company’s internal control environment and expectations for public companies to maintain documentation of the execution of processes and controls based on recent guidance and enforcement action from the Securities and Exchange Commission (SEC) and the Public Company Accounting Oversight Board (PCAOB).
Topics that will be discussed include:

Documentation expectations associated with management review controls
How to document the controls associated with information produced by the entity
Entity-wide controls

Controls over estimates and significant and unusual transactions
Monitoring activities and evaluating deficiencies

Conference Ends
5:20 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 webinar
SEC Conference 2020: An Accounting & Reporting Update for Public Companies Webinar

Speakers

CONFERENCE SPEAKERS


CURRENT REGULATORS

Robert Hirth, Co-Vice Chair, SASB

Matt Jacques, Chief Accountant, Division of Enforcement, SEC

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

Fuad Rana, Assistant Director, SEC

Erin Schneider, Regional Director, Division of Enforcement, SEC

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

Kate Zoladz, Associate Regional Director, Enforcement, SEC
 

FORMER REGULATORS

Alex Debbink, Manager, Financial Accounting Advisory Services, Ernst & Young LLP, formerly Technical Accounting Assistant at the FASB

Andrew Debbink, Senior Financial Accounting Advisory Services, Ernst & Young LLP, formerly Technical Accounting Assistant at the FASB

Louis Fanzini, Global Controller, Vonage, former FASB Industry Fellow, FASB

Courtney Haseley, Of Counsel, Gibson, Dunn & Crutcher

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

David Korvin, Attorney, Gibson Dunn, formerly an Attorney at 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, Managing Director, AlixPartners, former Assistant Chief Accountant, Division of Enforcement, SEC

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

CORPORATE LEADERS, BIG 4 & OTHER MAJOR ACCOUNTING FIRMS

Chris Ackerlund, Financial Reporting and Policy, Bank of America

Neal Ballew, Assurance Senior Manager, Ernst & Young LLP

Barry Berkowitz, Technical Accounting, Google

Fiona Burgess, Assistant Director, EY Center for Board Matters, Ernst & Young

Ross Collins, Senior Manager, Financial Accounting Advisory Services, Ernst & Young LLP

Sheri Fabian, National Assurance Partner – SEC Services, BDO

Damon Farley, Executive Director, Ernst & Young LLP

Shelley Finn, Senior Financial Principal/Director, Accounting Policies, DXC Technology

Tai Fung, Director, Starbucks Coffee Company

Ted Guy, Partner, Ernst & Young LLP

Katherine Jenezon, Senior Manager, Financial Services Assurance, Ernst & Young LLP

Anna V. Johnson, Manager, Financial Accounting Advisory Services, Ernst & Young LLP

Karen Keelty, Assurance Partner, National Office, PwC

Wes Kelly, Assurance Partner, PwC

Bob Kerich, Senior Vice President, Bank of America

Marie Kish, Partner, Ernst & Young LLP

Tim Kviz, National Assurance Managing Partner – SEC Services, BDO

Brandon Landas, Partner, BDO

David Levi, Senior Vice President, Controller & Principal Accounting Officer, Vonage

Craig Lewandowski, Managing Director, KPMG

Polia Nair, Senior Manager, SEC Regulatory Matters, Ernst & Young LLP

Angela Newell, National Assurance Partner, BDO

Lateefah Odedina, Assurance Director, National Quality Organization, PwC

Andrea Perdomo, MDP Audit Senior Manager, Deloitte

Chris Power, Senior Manager of Technical Accounting and SEC Reporting, Salesforce

Kristin Sterling, Senior Manager, Sustainability, Ernst & Young LLP

Tamara Stitt, SEC Reporting Manager, Bank of America

Kendy Thompson, Consulting Senior Manager, Ernst & Young LLP

Bill Witt, Director, Accounting and Transaction Services, MorganFranklin
 

LEGAL & OTHER SEC REPORTING SPECIALISTS

Alan Bannister, Partner, Gibson, Dunn & Crutcher LLP

Maia Gez, Partner, White & Case LLP

Hillary Holmes, Partner, Gibson, Dunn & Crutcher LLP

John Tang, Partner, Jones Day

Mike Titera, Associate, Gibson, Dunn & Crutcher LLP

Robyn Zolman, Partner, Gibson, Dunn & Crutcher LLP

 

This program is also available via live webinar
SEC Conference 2020: An Accounting & Reporting Update for Public Companies Webinar

Forum

No results found.

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.

 

Omni Mandalay Hotel at Las Colinas
221 East Las Colinas Boulevard
Dallas, TX 75039
(972) 556-0800

 

The Ritz-Carlton, Tysons Corner
1700 Tysons Boulevard
McLean, VA 22102
(703) 506-4300

 

The Ritz-Carlton, Laguna Niguel
One Ritz-Carlton Drive
Dana Point, CA 92629
(949) 240-2000

 

Park Hyatt Chicago
800 North Michigan Avenue
Chicago, IL 60611
(312) 335-1234

 

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

 

JW Marriott Hotel Houston
5150 Westheimer Road
Houston, TX 77056
(713) 961-1500

 

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) 653-8000

 

This program is also available via live webinar
SEC Conference 2020: An Accounting & Reporting Update for Public Companies Webinar

 

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