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

DAY ONE AGENDA

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

Key SEC Developments
9:00 – 10:30 AM
In this session, we will provide you with the up-to-the-minute information and guidance you need to successfully handle all of today's most critical SEC accounting and reporting issues, including:
• General SEC Update
• SEC Reporting in the Geopolitical Environment
   – Russian invasion of Ukraine and supply chain issues
      – Disclosure Considerations
   – Remaining Impact from COVID
• SEC Financial Disclosure Rulemaking
• Amendments to Modernize, Simplify, and Enhance Certain Parts of Reg. S-K
   – MD&A and Other Disclosures
   – Critical Accounting Estimates
   – Trends and Takeaways
• Amendments to Enhance and Standardize Climate-Related Disclosures
   – Investor demand for ESG
      – Disclosures outside of the financial statements
   – Disclosures in the audited financial statements
      – Governance Disclosures
   – Risk Management
      – GHG Emissions
• Cybersecurity
   – Proposed Disclosure Rules
   – Best Practices
   – Enforcement Priority 

Break
10:30 – 10:40 AM

Key SEC Developments (continued) 
10:40 AM – 12:25 PM
• Special Purpose Acquisition Companies (SPACs)
• 10b5-1 Plans & Share Repurchases
• Pay vs. Performance
• Holding Foreign Companies Accountable Act (HFCAA)
• SEC Disclosure Considerations for China-based Operations
• Staff Accounting Bulletins
• Staff Guidance on Materiality
• SEC Enforcement Activities
• Legislative Update
• SEC Staff Comments and Trends

Lunch
12:25 – 1:10 PM

ESG & Financial Reporting
1:10 – 2:40 PM
Though not yet fully regulated, public ESG reporting has essentially become mandatory for larger public companies due to market-driven pressures. This reporting has continued to cascade down to smaller public companies, private companies, private equity and venture-backed entities, and even pre-IPOs and recent IPOs. While ESG reporting is still developing to some degree, that development is moving fast in terms of stakeholder expectations, shareholder voting, and framework and standard selection, including new regulation coming from the SEC and others. Recent activities by the IFRS Foundation and the formation of an International Sustainability Standards Board (ISSB) will accelerate the standardization of reporting over the next several years. This session will cover the:
• Current State of the ESG Ecosystem
• ESG Reporting Landscape & Regulatory Updates
• Institutional Investor Priorities
• Role of the Finance Function

Break
2:40 – 2:45 PM

FASB Update
2:45 – 4:15 PM
FASB’s recent changes will have a huge impact on business in many important areas, such as lease accounting, financial instruments, revenue recognition, business combinations, and more. This session will update you on what these changes are, including:
• Accounting Standard Updates
• FASB's Technical Agenda
• Select New Standards
• Revised Effective Dates—"Two Bucket" Approach
• Recently Issued Exposure Documents (EDs)
• Emerging Issues Task Force (EITF)

Break
4:15 – 4:20 PM

Public Company Auditing Update
4:20 – 5:20 PM
• Leadership & Organizational Updates
• Standard-Setting Activities
   – Short-Term Standard Setting Projects
      – Quality control
      – Noncompliance with Laws and Regulations
      – Attestation Standards
      – Other Auditors
      – Going Concern
      – Confirmations
   – Mid-Term Standard Setting Projects
      – Substantive Analytical Procedures
      – Fraud
      – Interim Ethics and Independence
      – Interim Standards
   – Data and technology
   – Audit Evidence
• Inspections
   – Deficiencies in engagements
   – PCAOB inspection highlights
   – Future Areas of Focus
• Other Publications & Areas of Focus
   – PCAOB Spotlights
   – PCAOB Agreement with Chinese Authorities

Closing Remarks
5:20 – 5:35 PM
 

DAY TWO AGENDA

Welcome & Opening Remarks
8:30 – 8:45 AM

SEC Enforcement Issues
8:45 – 10:15 AM
Discover the latest initiatives that the SEC's Division of Enforcement is targeting, what factors trigger investigations and enforcement actions, and the possible outcomes. You will also learn the best ways to avoid trouble, and how to handle SEC investigations and enforcement actions if they do come your way. In this session, we will cover:
• ESG, SPACs & Other Risk Factors
• SEC Enforcement Actions & Penalties
• Sources of Investigations
• Investigation Process
• Arsenal of SEC Enforcement Weapons
• Conduct of Individuals
• Financial Reporting & Disclosure Trends
• Mistakes Public Companies Make
• Whistleblower Program Update
• Recent Trends & Developments
  – ESG
  – Crypto
  – Ukraine

Break
10:15 – 10:20 AM

Non-GAAP Measures, Metrics & Disclosures 
10:20 – 11:20 AM
While the SEC's non-GAAP measures and metrics have been around for some time, they still cause headaches for businesses when it comes to disclosures and financial statements. In this session, we will address how companies are currently applying non-GAAP guidance and metrics, and what can be done in response to SEC comment letters to avoid costly fines and penalties. Topics include:
• Non-GAAP Measures and KPIs
• SEC Staff Guidance
• Recent Comment Letter Trends

Break
11:20 – 11:25 AM

Best Practices for Dealing with Corporate Ethics & Compliance Risks
11:25 AM – 12:30 PM
Learn how performing periodic risk assessments, and implementing successful compliance and ethics
programs, can help protect your business. Experts will discuss:
• State Law & Federal Duties
• Compliance Program & Federal Law
• Relevant DOJ Guidance
• Risk Assessment
• Incentives & Disciplinary Measures

Lunch
12:30 – 1:15 PM

Roundtable Discussion on Hot Button Issues for Public Companies
1:15 – 2:45 PM
Industry, auditing, legal and other experts will discuss how public companies are dealing with:
• Geopolitical Risk & Sanctions
• Cybersecurity & Ransomware
• Financial Reporting Best Practices
• Climate Change, De-Carbonization
• Recruiting & Developing Accounting/Finance Talents

Break
2:45 – 2:50 PM

Internal Controls—Hot Topics
2:50 – 3:50 PM
This session will provide an update on current trends associated with a company’s internal control environment—including important ESG factors—and expectations for public companies to maintain documentation and controls based on recent guidance and enforcement actions from the SEC and PCAOB. Topics to be discussed include:
• Governance Structure
   – Maximize risk coverage and resources
   – Lines of Defense (LOD) model
• ICFR Program
   – Effectiveness and efficiency of operations
   – Reliability of reporting
   – Compliance with laws and regulations
• SOX Section 302 Certifications
• Scope and Mix of Controls Testing
• Information Produced by the Entity (IPE)
• Population Completeness
• Related Parties
   – Document, maintain, and establish controls
   – PCAOB Auditing Standard 18
• Deficiency Impact Analysis
• Remediation of Deficiencies
• Major System Implementations
• Service Organization Controls Reports
• Segregation of Duties
• New Guidance on Testing Application Controls
• Leveraging Technology and Tools
• ESG
   – ESG risk management
   – Disclosure controls and procedures (DCPs)
   – Internal control over financial reporting (ICFR)

Break
3:50 – 3:55 PM

Frequently Encountered Accounting & SEC Reporting Topics
3:55 – 5:10 PM
This session will focus on complex and challenging accounting and SEC reporting topics that are frequently encountered by financial accounting professionals serving public companies, including:
• Non-GAAP Financial Measures
• Management's Discussion & Analysis (MD&A)
• Contingencies
• Segment Reporting
• Revenue Recognition
• Fair Value Measurements
• Asset Impairment
• Goodwill & Other Indefinite-Lived Intangible Assets
• Inventory & Cost of Sales
• Income Taxes—Estimating Annual Effective Tax Rate
• Going Concern
• Amendments to Regulation S-K items 301, 302 & 303
• Amendments to Rule 3-05 and Article 11: Changes to Reporting Acquisitions & Dispositions
• Business Combinations

Closing Remarks
5:10 – 5:20 PM

Conference Ends
5:20 PM