Pick up tips for increased efficiency, and hear about the most pressing issues in A&A and compilations and reviews from leading industry experts.
DESIGNED FOR
Whether you are a CPA in public practice or private accounting, this conference is a must to keep you one step ahead in a constantly changing business environment.
HIGHLIGHTS
Agenda
8:00-8:30am
Registration and Continental Breakfast
8:30-10:10am
General Session: Updates in Accounting and Auditing – Part 1
Kenneth A. Heaslip, CPA, CGMA
Stay on top of the changes you need to know to be effective. Learn how to apply the provisions of recently issued accounting, auditing, compilation and review pronouncements. Major subjects include relevant accounting standards, updates to the FASB codification, audit services issues, and compilation and review issues.
10:10-10:25am
Refreshment Break
10:25am-12:05pm
General Session: Updates in Accounting and Auditing – Part 2
Kenneth A. Heaslip, CPA, CGMA
12:05-1:00pm
Networking and Lunch
1:00-2:40pm
Concurrent Sessions (Please choose one)
1A. Fraud from Within (Internal Fraud)
Kenneth A. Heaslip, CPA, CGMA
This session will cover various fraud strategies that are perpetuated by management and other employees of business and not-for-profit entities. It includes and extensive list of frauds including, billing/invoicing schemes, shell companies, phony invoices, unauthorized purchases, collusion, confidential information, inventory, check fraud, and expense accounts. The program includes real cases and a discussion of red flags.
1B. Benefit Plan (DOL) Update
Rebecca M. Lee, CPA
This session will address the Department of Labor’s recent review of benefit plan audits and the need for taxpayers to be more diligent in preparing their financial statements. The focus of the program will be the latest guidance from the DOL and the AICPA.
1C. Revenue Recognition Update
Stacey Painter, CPA
The issuance of ASU 2014-09 requires companies to evaluate their revenue recognition practices in order to properly implement the standard. As the public company 2018 implementation date is approaching, the AICPA is issuing guidance on the topic. This session will discuss some of the recent guidance including some pertaining to various industries.
2:40-3:00pm
Refreshment Break
3:00-4:40pm
Concurrent Sessions (Please choose one)
2A. Attestation Standards Including Comfort Letters
Kenneth A. Heaslip, CPA, CGMA
This session will discuss the strategies CPAs should use when asked to provide information to third parties on behalf of their clients. It will summarize the requirements under the attestation standards as well as how to structure comfort and other letters in order to minimize exposure while accommodating the third parties.
2B. SSARS Update
Rebecca M. Lee, CPA
SSARS 21 has radically changed how SSARS engagements are conducted. In addition to compilation and review services, practitioners can now offer preparation services that allow them to offer financial statement services in streamlined and more flexible procedures. This program addresses these issues. In 2016 SSARS 22 and 23 offered clarifications, completed the clarity project, and expanded guidance on prospective financial statements. This session will offer an update on SSARS 21 as well as discussing SSARS 22 and 23.
2C. Related Party Issues
Stacey Painter, CPA
Related party transactions are often the most difficult for accountants and auditors to manage due to these transactions not being separately identified when transaction activity takes place. Related party transactions are often used to commit fraud and more often are simply hidden by management because they do not want third parties to be aware of these transactions. This program will identify the accounting and disclosure guidance associated with related party transactions (ASC 850), address form over substance-related party transactions, provide examples of related party frauds, and describe best practices for identifying undisclosed related party transactions. Related party disclosures will also be addressed.
COURSE LEVEL
Intermediate
Help Feed Those in Need
- The NJCPA Emerging Leaders Council is hosting a Food Drive to benefit the Community FoodBank of New Jersey. Please bring your nonperishable items and canned goods to this event. Peanut butter and tuna fish are always needed.