SEC Virtual Conference for Asia-Based US Listed Companies

Topic Photo

Asia’s premier conference for financial professionals serving US listed companies!

 

(Note: Year-Long Passes do not apply to this course.)

SEC Virtual Conference for Asia-Based US Listed Companies

CPE Credit: 16 Hours

Price: $1,099.00

NASBA Field of Study: Accounting

 

Overview

Our Virtual SEC Conference: An Accounting & Reporting Update for US Listed Companies is designed to help Asia-based companies navigate through the complex rules and regulations for doing business in the US. US regulators, thought leaders from the Big 4, and industry panelists will provide you with the latest, critical updates on US financial accounting and reporting, with a special focus on issues that impact Chinese and other Asia-based companies.
 

AGENDA HIGHLIGHTS

•  Regulatory Update: Future of China in US Capital Market

•  SEC Hot Buttons

•  PCAOB & Auditing Developments

•  Recent Accounting Developments (FASB/IASB Update)

•  Update on SEC Enforcement Initiatives for Asia-Based Companies

•  ESG & Financial Reporting

•  Communications with Stakeholders—Panel Discussion

•  Special Purpose Acquisition Companies (SPACs)

•  Frequently Encountered Accounting & SEC Reporting Topics

•  Internal Controls—Hot Topics

 

LEARNING OBJECTIVE  To update financial executives on important US financial accounting and reporting topics, with a special focus
on issues that affect Chinese and other Asia-based companies.

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

Agenda

DAY ONE AGENDA*


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

Regulatory Update: Future of China in US Capital Market
8:45 – 9:45 AM
Relationships between the United States and China have run aground on rocky shores, with COVID-19 complicating an already difficult relationship that has seen conflict over trade, borders, and human rights. Attention has turned to the large number of Chinese companies that have tapped US capital markets. Will the US ban Chinese companies from listing in the US? Will pension funds be banned from Chinese investments? What happens to multinationals with significant Chinese operations?  

Break
9:45 – 9:50 AM

Recent Accounting Developments (FASB/IASB Update)
9:50 – 10:50 AM
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
10:50 11:00 AM

SEC Hot Buttons
11:00 AM – 12:10 PM
SEC Commission & Staff Changes
  – Leadership focus

SEC Reporting in the COVID-19 Environment
  – Corp Fin Disclosure Topics No. 9, 9A
  – Non-GAAP measures
  – COVID-related SEC enforcement actions
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
  – Financial statements of businesses acquired or to be acquired
  – Reduced requirements for registration statements
  – Pro Forma information
  – Disclosure effectiveness—S-X Rule 3-05 (Acquired Business)
Amendments to Modernize Disclosures of Business, Legal Proceedings & Risk Factors Under
  Regulation S-K
  – Adoptive and Effective Dates
  – Item 101Description of Business
  – Item 101Description of Business—Human Capital Resources
  – Item 103Legal Proceedings
  – Item 105Risk Factors
  – A Closer Look: Human Capital Management Disclosure
  – Principles-Based Disclosure
Changes to the Definition of Accredited Investor & Qualified Institutional Buyer
  – SEC Expands the definition of “Accredited Investor”
Direct Listings on the New York Stock Exchange
  – Overview of Listing Standards Applicable to Direct Listings
Modernizing Disclosures for Banking Registrants
  – Industry Guide 3 replaced
  – Codification and elimination of certain Guide 3 disclosures
Amendments to Modernize & Simplify Certain Parts of Regulation S-K
  – MD&A and other financial disclosure requirements
Inline XBRL
  – Other rule changes:
     – E signatures
     – Cover Page and 2019 amendments

Break
12:10 – 12:15 PM

SEC Hot Buttons (continued)
12:15  – 1:15 PM
SEC Interpretive Guidance
  – Key performance indicators and metrics in MD&A
• Critical Audit Matters (CAMs)
  – Applicability of CAM Reporting
  – Communication
  – Will auditors disclose “original information”?
  – Language used in communicating CAMS
  – Early preliminary observations
• SEC Interpretive Guidance—SPAC Mergers
  – Special Purpose Acquisition Companies (SPACs)
  – Current practice matters related to reverse mergers with SPACs
• Cybersecurity
  – Disclosures
  – SEC enforcement priority
• Legislative Update
  – JOBS Act 3.0
  – Regulatory outlook—Biden administration
• FASB ASC Updates
  – Credit Impairment (ASC326)
• SEC Staff Comments & 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)
     – Borrower and lender accounting
– Loan Modifications related to COVID-19
– Main Stream Lending Program (MSLP)

Lunch
1:15 – 2:00 PM

PCAOB & Auditing Developments
2:00 – 3:15 PM
PCAOB 0rganizational Update
  – Leadership
  – Goals set out in the PCAOB’s 2020 - 2024 strategic plan
  – Publication Highlights During 2020
Inspections Update & Outlook for 2021
Reporting & CAMs
  – What auditors communicate about CAMs
  – Learnings from first year of CAM reporting for large accelerated filers
  – Audit reports issued to date
Internal Controls over Financial Reporting
  – ICFR considerations – review controls
  – Internal Control over Financial Reporting (ICFR) considerations
  – Evaluating control deficiencies – reminders
SEC Report of Investigation Regarding Certain Cyber-Related Frauds Perpetrated Against Public
  Companies and Related Internal Accounting Controls Requirements
  – SEC Report of Investigation
PCAOB’s Current Standard-setting Activities
  – Standard setting updates
  – PCAOB’s research agenda
  – Strengthened requirements related to auditing accounting estimates and fair value measurements
  – New standard addressing the use of specialists
  – The quality control standards landscape is changing – Current PCAOB standard-setting activities
  – Use of other auditors
  – Independence

Break
3:15 – 3:20 PM

Special Purpose Acquisition Companies (SPAC)
3:20 – 4:20 PM

In the past several years, and particularly over the past several months, SPACs have grown and matured significantly. This has opened a viable alternative and expedited path for private companies to access the public markets. This is also a potential avenue for public companies when disposing of a business unit or doing a “carve out.” This session will focus on:
Overview & Benefits of a SPAC
Lifecycle of a SPAC
SEC Registration Process
Financial Accounting & Tax Considerations for the Acquisition Transaction
SEC Reporting for the Acquisition Process
Financial Accounting & SEC Reporting after the Acquisition

 

DAY TWO AGENDA*


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

Update on SEC Enforcement Initiatives for Asia-Based Companies
8:45 – 10:15 AM
Leadership Changes & New Era in SEC Enforcement Policy
SEC Response to COVID-19
SEC Enforcement Actions and Penalties
SEC Enforcement Overall Results of 2020
SEC Enforcements Trends
Sources of Investigations
SEC Whistleblower Program Update & Awards
Arsenal of SEC Enforcement Weapons
SEC Investigation Process
Financial Reporting & Disclosure Enforcement Trends
Best Practices for Accounting & Reporting Compliance
Common Mistakes Public Companies Make in SEC Investigations
Financial Reporting and Audit Group
Recent Accounting and Reporting Cases
Litigated Financial Fraud & Auditor Cases
FCPA Trends & Recent Cases
SEC Focus On Cyber: Disclosure, Internal Controls, Cryptocurrency, etc.
Insider Trading—Recent Cases
Recent Cases Against Individual Auditors & Accountants

Break
10:15 – 10:20 AM

Frequently Encountered Accounting & SEC Reporting Topics
10:20 – 11:20 AM
This session will focus on complex and challenging accounting and SEC reporting topics that are frequently encountered by accounting professionals of public companies. Discussion will include:
• Post Implementation Issues of the Revenue Recognition (ASC 606) & Lease Accounting (ASC 842)
  Standards
• Credit Losses (ASC 326) & Current Expected Credit Loss (CECL)
• Latest Developments in Business Combinations, including Goodwill & Impairments
• Accounting for Income Taxes
… and more

Break
11:20 –11:25 AM

ESG & Financial Reporting
11:25 AM –12:40 PM
Environmental, Social and Governance (ESG) performance, reporting and assurance has gained center stage around the world as organizations seek to better understand the needs and concerns of a variety of stakeholders, improve their own performance and better communicate their ability to create long term sustainable value. In addition, the SEC, FASB, IASB and other regulators are also focusing on how companies can better disclose ESG issues. Finance and accounting professionals can play a valuable role in adding value as their organizations start, evolve and continuously improve their ESG related activities by:
Learning
about the latest pressures, drivers and application of ESG activity that enhance
  organizational value and sustainability for key internal and external stakeholders
Gaining insights into the most current ESG reporting techniques and leading practices as well as
  reporting frameworks and standards used by leading organizations globally
Understanding internal control aspects and third party assurance

Lunch
12:40 –1:40 PM

Communications with Stakeholders—Panel Discussion
1:40 – 3:00 PM
This panel discussion will include investor-relations experts, an audit-committee chairperson, SEC legal counsel, and a representative from a stock exchange, who will discuss their recommendations and experiences for best practices relating to companies' communications with stakeholders.

Break
3:00 – 3:05 PM

Internal Controls—Hot Topics
3:05 – 4:20 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 & Significant & Unusual Transactions
• Monitoring Activities & Evaluating Deficiencies

Closing Remarks
4:20 – 4:35 PM

Conference Ends
4:35 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.

Speakers

SPEAKERS INCLUDE


Edward Au, Southern Region Managing Partner, Deloitte China

Colum Bancroft, Managing Director, AlixPartners

Paul Boltz Jr., Partner, Gibson, Dunn & Crutcher LLP

Shas Das, Counsel, International Trade and Government Matters, KSLAW

Shu Du, Skadden

Paul Gillis, Professor of Practice, Peking University’s Guanghua School of Management

Linda Gu, Partner, KPMG

Grace Guo, KPMG

Ned He, Manager of Risk Assurance, PwC

Peter Huang, Skadden

Rita Jiang, KPMG

Steve Kwok, Partner, Skadden

Haiping Li, Partner, Skadden

Crystal Liu, Corporate Tax Advisory, KPMG

Will Lo, Finance Group Manager, Microsoft

Greg Moore, Lead Director/Board Member, Texas Roadhouse, and Member of the Board of Directors at Newegg

Charline Ni, PwC

Rachel Pan, Senior Manager, PwC

Susan Resley, Securities Enforcement and Litigation Partner, Morgan Lewis

Kenny Schek, Director, AlixPartners

Peter Schloss, Managing Partner and CEO, CastleHill Partners Ltd.

Hui Huay Siow, Manager, EY

Yulanda Tang, Director, US Markets National Service Team, PwC

Randal Vallen, Partner, Assurance Services, PwC

Alexander Vasilescu, Trial Unit Chief for SEC's New York Regional Office

Ciro Wang, Partner, KPMG

Jason Wang, Senior Manager, PwC

Amanda Wong, Assurance Associate, PwC

Jason Wong, Associate Director, KPMG

Robin Yang, Managing Director, ICR

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