Current Regulatory Focus on Internal Controls over Financial Reporting (ICFR) Webinar (1 Hour)

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Qualifies for Year-Long Passes!

Current Regulatory Focus on Internal Controls over Financial Reporting (ICFR) Webinar (1 Hour)

CPE Credit: 1 Hours

Price: $99.00

NASBA Field of Study: Accounting



The SEC and PCAOB continue to focus on Internal Controls over Financial Reporting (ICFR). This timely session will provide a detailed overview of the specific ICFR areas that remain on the SEC’s and PCAOB’s radar.


•  Regulatory Update
   – Possible effects of recent PCAOB and AICPA standard setting
   – Inspections—anticipated focus
      – Increased engagement with audit committee chairs
      – Recurring areas of deficiencies
      – Implementing the new auditor’s reporting model
      – Audit procedures on new accounting standards
      – Cybersecurity incidents and digital assets
      – Quality control and control environment
      – Auditor independence
   – Auditor reporting: Critical Audit Matters (CAMs)

•  Estimates & Specialists
   – Overview
   – Assessing risk in the estimate
   – Responding to risks of material misstatement
   – Professional skepticism
   – Information from pricing services and brokers or dealers
   – Using an auditor-employed or auditor-engaged specialist

•  Restatement Themes
   – General observations
   – Internal control considerations

•  SEC Update
   – The Commission and its priorities
      – Capital formation
      – Disclosure effectiveness
      – Emerging technologies
   – Rulemaking activities
      – Earning releases and quarterly reports
      – Proposed amendments to S-X Rules 3-05 and 3-14
      – Defining accelerated and large-accelerated filers
      – Modernization of Regulation S-K
   – Digital assets and Initial Coin Offerings (ICO)
   – Other rulemaking
   – Enforcement activities
   – SEC staff  priorities
      – Brexit and LIBOR disclosures
      – Trends in SEC comments
         – ASC 606, Revenue from Contracts with Customers
         – Non-GAAP measures
         – MD&A
         – Goodwill issues


LEARNING OBJECTIVE  This session will focus on specific ICFR areas and other trends currently on the SEC and PCAOB’s radar.

DELIVERY METHOD  Group Internet-Based.



Neal Ballew, Assurance Senior Manager, Ernst & Young LLP

Sydney Linney, Assurance Senior Manager, Ernst & Young LLP


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