• Overview of post implementation review standards
• Transforming the CPA licensure model to recognize rapidly changing skills
• Core plus discipline licensing model
• How to future-proof the CPA license to encompass both technical and technology competencies
• Global business investment, the post-pandemic economic recovery, and the impact on financial statement audit periods
• Trends that impact auditing in the future
• Audit quality challenges and key audit issues resulting from COVID-19

Richard R. Jones, CPA
Chair
Financial Accounting Standards Board

Michael D. Colgan, CAE
CEO & Executive Director
PICPA

Kurt J. Rankin
Vice President and Economist
The PNC Financial Services Group

Allison M. Henry, CPA, CGMA
Vice President, Professional & Technical Standards
PICPA

• Impact of COVID-19 on FASB agenda
• Leases implementation
• New accounting standards
• Update on current projects

Adriana Yepes
Supervising Project Manager
Financial Accounting Standards Board

This session will feature a discussion of the current status of the ASB's projects to:

• Revise and expand the auditor's report
• Revise the attestation standards to enable a practitioner to perform an examination, review, or agreed-upon procedures engagement without having to request an assertion from the responsible party
• Revise the audit evidence standard
• Revise the standard on auditing management estimates and use of management specialists
• Make narrow revisions to auditor communications regarding NOCLAR; and convergence efforts on auditor risk assessment, quality control and group audits

Ahava Goldman
Associate Director - Audit & Attest Standards
AICPA

• Work-from-home conditions driving new whistleblower activity
• Fraud in the audit: working remotely
• Impact of COVID-19 on supply chains
• Export controls

Felicia Giliberti
Director, Forensic Advisory Services Practice
KPMG LLP

Julie Badzura
Senior Manager, Trade & Customs Practice
KPMG LLP

Microsoft Excel AI

• Ideas
• Data types
• Insert data from a picture
• Dynamic arrays
• Natural language queries
• Using Excel to identify anomalies in data (Benford's Law)

Remote technology

• Inventory observation (HoloLens)
• Collaborative tools (Teams)

Other AI applications

• Fraud protection
• Predictive analytics (late payments in accounts receivable)

Bruce Lane
Dynamics 365 Finance & Operations\Commerce Technical Specialist
Microsoft Corporation US Team

Rick Kes
Partner, Health Care Senior Analyst 
RSM US LLP

• New requirements for reviews, compilations, and financial statement preparation engagements as a result of the issuance of SSARS 25, Materiality in a Review of Financial Statements and Adverse Conclusions
• Performance requirements for reviews, compilations and financial statement preparation engagements
• Current agenda of the AICPA’s Accounting and Review Services Committee

Mike Glynn, CPA, CGMA
Senior Manager – Audit & Attest Standards — Public Accounting
AICPA

• Challenging audit issues resulting from COVID-19
• Achieving a high-quality audit in a remote working environment

Anthony Stranix, CPA
Partner
Mazars USA LLP

• Going concern
• Subsequent events
• Impact on the auditors’ report

Allison M. Henry, CPA, CGMA
Vice President, Professional & Technical Standards
PICPA

George I. Victor, CPA, CGMA
Shareholder
Giambalvo Stalzer & Company CPAs PC

Grace Singer, CPA
Partner-in-Charge of the Quality Control Department
Berdon LLP

• Risk assessment is one of the most critical pieces of the audit and yet enhanced oversight findings of the AICPA.
• Peer Review Board indicates that over 47% of audits are nonconforming due to lack of compliance with the risk assessment standards. This session will drill down into the risk assessment requirements and provide clarity on the aspects of risk assessment that are frequently missed.

Allison M. Henry, CPA, CGMA
Vice President, Professional & Technical Standards
PICPA

Stephanie Gigliotti, CPA
Partner
Prager Metis CPAs

• COVID Implications
  - Enhanced disclosures and disclosure consideration
  - Impairment trends, developments, and changes
  
  
• Discussion of Triggering Events
  - COVID vs. others
  - How to assess and disclose
  
  
• Impairment Testing
  - Fair value considerations
  - Differences in the test for ASC 360 and ASC 250

Jaime Krug, CPA
Partner
Centri Business Consulting LLC

Dan Owens, CPA
Senior Director
Centri Business Consulting LLC

Curtis Farrow, CPA, ASA
Senior Manager
Centri Business Consulting LLC

• Going digital: risk factors and best practices
• Evaluating general computer controls: issues to look for
• Evaluating the SOC report: specific concerns due to COVID-19
• Audit best practices in evaluating internal controls

Michael McAllister, CPA, CITP, CISA
Practice Leader - IS Assurance & Advisor Services
Audit Services Group
RKL LLP

Barry M. Pelagatti, CPA
Partner and Leader, Financial Services Industry Group
RKL LLP