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

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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

 

Overview

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.
 

AGENDA HIGHLIGHTS


•  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.

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

Speakers

SPEAKERS


Neal Ballew, Assurance Senior Manager, Ernst & Young LLP

Sydney Linney, Assurance Senior Manager, Ernst & Young LLP

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