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 COVID-19 Environment
  – Corp Fin Disclosure Topic No. 9, 9A
  – COVID-related SEC enforcement actions
• SEC Financial Disclosure Rulemaking
• Amendments to Modernize, Simplify & Enhance Certain Parts of Regulation S-K
• Amendments to Rules 3-05, 3-10, 3-16 & Article 11
• Direct Listings on the New York Stock Exchange
• Environmental, Social & Corporate Governance (ESG)
• SEC Disclosure Considerations—China-Based Operations
• Special Purpose Acquisition Companies (SPACs)
• SEC Enforcement Activities

Break
10:30 – 10:40 AM

Key SEC Developments (continued) 
10:40 AM – 12:25 PM
• Other Rule Changes
  – E signatures
  – Cover page and 2019 amendments
• SEC Interpretive Guidance
  – Key performance indicators and metrics in MD&A
  – Updates to financial reporting manual
• Critical Audit Matters (CAMs)
  – Communication
• Cybersecurity
  – Disclosures and best practices
  – SEC enforcement priority
• Legislative Update
  – Regulatory outlook—Biden administration
• Accounting Update on CECL
• SEC Staff Comments & Trends
  – SEC staff focus areas
  – ASC 606, Revenue from Contracts with Customers
  – Non-GAAP measures
  – MD&A
  – Segment reporting
  – Climate change

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:
• ESG Reporting Statistics & Leading Reporting Practices
• ESG Priorities of Large Institutional Investors
• Recent Activities by Regulators & Standard Setters
• Internal Control & Third Party Assurance Considerations

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)

Break
4:15 – 4:20 PM

Non-GAAP Measures, Metrics & Disclosures 
4:20 – 5:35 PM
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.

Closing Remarks
5:35 – 5:45 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:
• Leadership Changes
• Recent Trends & Developments
• ESG, SPAC & COVID-19 Risk Factors
• Best Practices for Accounting & Reporting Compliance
• Enforcement Actions & Penalties
• Sources of Investigations
• Investigation Process
• Arsenal of SEC Enforcement Weapons
• Conduct of Individuals
• Financial Reporting & Disclosure Trends
• FCPA Trends
• Mistakes Public Companies Make
• Whistleblower Program Update
• Cryptocurrency
• Recent Cases
  – Accounting and reporting
  – Individual auditors and accountants
  – Cyber risk
  – Insider trading

Break
10:15 – 10:20 AM

Public Company Auditing Update
10:20 – 11:20 AM
• PCAOB 0rganization & Structure
  – Leadership
• Developments, Research & Standard-Setting Agenda
  – Strategic plan
  – Auditor independence
• Inspection Areas & Report Update
  – New inspection report format
• Reporting & CAMs
  – Identifying CAMs
  – Internal Controls over Financial Reporting (ICFR)
• Management Review Controls
  – Documenting and challenging an audit
• Evaluating the Severity of Control Deficiencies

Break
11:20 – 11:25 AM

Best Practices for Dealing with Corporate Ethics & Compliance Risks
11:25 AM – 12:40 PM
Learn how performing periodic risk assessments, and implementing successful compliance and ethics
programs, can help protect your business. Experts will discuss:
• Preventing & Detecting Misconduct
• Protecting Reputation
• Mitigating Government & Civil Actions
• The Importance of Clear & Effective Communication
• Implementing a Successful Compliance Program

Lunch
12:40 – 1:25 PM

Hot Button Issues for Public Companies—Expert Panel Discussion
1:25 – 2:40 PM
Industry, auditing, legal and other experts will discuss how public companies are dealing with:
• Geopolitical Risk
• Cybersecurity & Ransomware
• Integrating Political Risk into ERM
• Financial Reporting Best Practices
• Recruiting & Developing Accounting/Finance Talents

Break
2:40 – 2:45 PM

Internal Controls—Hot Topics
2:45 – 4:00 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
• Considerations Associated with Information Produced by the Entity
• IT System Implementation Considerations
• Service Organizations & Controls Reports
• Monitoring Activities & Evaluating Deficiencies
• Using Digital Audit Techniques

Break
4:00 – 4:05 PM

Frequently Encountered Accounting & SEC Reporting Topics
4:05 – 5:20 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:
• 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
5:20 – 5:30 PM

Conference Ends
5:30 PM