PICPA Transaction Advisory Services Conference

7:45 a.m.

Greetings from PICPA Leadership

8:00 a.m.

1-Other

The Outlook on Valuations, Forensics, and Transactions

Impacts on lower middle-market private transactions and economic impacts
Banking and financing
Industries that are particularly impacted, favorably or unfavorably
State of forensic accounting
M&A outlook

Moderator

Robert J. McCormack, CVA
Managing Partner
Murphy McCormack Capital Advisors

Panelists

Andrew Rice, CPA, CVA
Manager, Business Consulting Services Group
RKL LLP

Nicole Stezar Kaylor
Co-Chair, Corporate and Tax Group
McNees Wallace & Nurick

Bob Wegbreit
Partner
GF Data

8:50 a.m.

1-A&A

Update on Engagement Letters and the Impact of Standards

Fully customize engagement letters to comply with AICPA standards
The new SSFS1 and how it impacts your engagement letter
COVID-19 issues and how to deal with them in your engagement letter
Methods suggesting the best protection for both you and your firm to limit liability

Speaker

Glenn Block, CPA, ABV, CVA
Senior Partner
Block and Aldinger CPAs

9:40 a.m.

Take a Breather

9:50 a.m.

1-A&A

Fraud and “The New Normal”

How the short- and long-term business disruption caused by the virus will impact fraud prevention detection and investigation. Learn more on:

How the short- and long-term business disruption caused by the virus will impact fraud prevention detection and investigation
What to expect of the new environment
The virus’s impact on employees, contractors, vendors, and customers
Anti-fraud programs and controls
Investigations

Speaker

Michael Breon, CPA, CFE, CIA
President
Breon & Associates

10:40 a.m.

1-Other

Transcending Technology: Your Path to Accounting Innovation

Identify the human factors that enable competitive advantage for accountants
Identify existing innovations that may add value to your firm’s services
Identify what you need to do to transcend technology rather than be overcome by it

Speaker

Donny Shimamoto, CPA, CITP, CGMA
Founder and Managing Director
IntrapriseTechKnowlogies LLC

11:30 a.m.

Lunch Break

12:20 p.m.

1-A&A

Digital Upskilling - Leveraging Technology in Accounting and Deals

Why leverage technology in deals?
Common tools
Case studies/examples
Resources
Q&A

Speakers

Brandon Campbell Jr., CPA
Deals Managing Director
PwC

Moira Schanne, CPA
Deals Manager
PwC

1:10 p.m.

Virtual Room Change Break

1:15 p.m.

CONCURRENT SESSION #1

Forensic Track

1-Other

Cybersecurity: Got Logs? Gathering Electronic Evidence in Three Easy Steps

Lessons from Yahoo and Verizon on risk assessments and the M&A transaction
Noninvasive opportunities for buyers to inquire about cybersecurity readiness of target
Tools and techniques for assessing business interruption damages caused by ransomware and other cyber hacking

Speakers

Kai Pfiester
Founding Partner
Black Cipher Security

Jeff Brenner, Esq., NJLPI
General Partner
Black Cipher Security

Business Valuation Track

1-Other

Impact of COVID-19 on Business Valuation – Part 1

Updated COVID-19 and business valuation timeline
2020 valuation dates
Examples using probabilistic/scenario analyses in the DCF and CCF
How to normalize income in years 2020, 2021, 2022, and the terminal year of a DCF model
How to apply the CCF model with “bolt-ons”
Various government COVID-19 programs including the CARES Act stimulus bill

Speaker

James R. Hitchner, CPA, ABV, CFF
Managing Director, Financial Valuation Advisors
President, Financial Consulting Group
CEO, Valuation Products and Services

Transaction Track

1-A&A

Hot Topics in Acquisition Accounting

Acquisition overview and refresher
Key accounting hot topics
Key valuation hot topics
Other considerations, including disclosures

Speakers

Brian Boggs, CPA
Deals Partner Focused on Capital Markets and Accounting Services
PwC

Douglas Allcorn, CFA
Deals Partner Focused on Valuation
PwC

2:05 p.m.

Break

2:15 p.m.

CONCURRENT SESSION #2

Forensic Track

1-Other

Business Interruption Damages
Preview this session >>

Discuss the causes of business interruption
How to document claim elements
Business interruption in a COVID-19 world

Speakers

James A. Stavros, CPA, CFF
Director
Forensic Resolutions Inc.

Jeffrey Willoughby, CPA, ABV, CFF
Director
Forensic Resolutions Inc.

Business Valuation Track

1-Other

Impact of COVID-19 on Business Valuation – Part 2

Examples on discount rates
How to support interim and long-term growth rates
Various adjustments to make the guideline company transactions method more valid
How to use public market data
Discounts for lack of marketability and control
S corporations

Speaker

James R. Hitchner, CPA, ABV, CFF
Managing Director, Financial Valuation Advisors
President, Financial Consulting Group
CEO, Valuation Products and Services

Transaction Track

1-Other

M&A in a Recession – Why This Time Is Different

M&A in Great Recession vs. dot.com bust vs. current pandemic
Which buyers hold the cards? PE vs. strategic
How to prepare clients looking to test capital markets in current M&A environment
Different types of risk that can hurt valuation and potentially derail your client’s deal
Common risk factors across lower middle market companies and how to resolve/position around these risk factors
How to know if a client is sale ready in current environment
What you can do as an accounting adviser to help prepare for a capital event down the road

Speakers

Danny Parkinson
Vice President
Class VI Partners

3:05 p.m.

Virtual Room Change Break

3:10 p.m.

CONCURRENT SESSION #3

Forensic Track

1-A&A

Companies Falsely Attributing Poor Financial Performance to COVID-19

Areas where companies have the ability to hide poor financial performance behind the impact from the pandemic
Unsupportable estimates and judgments
Delayed asset impairment
Modification of fair value of investments
Write-down of receivables
Failure to properly record/disclose loss contingencies

Speaker

Kirsten Flanagan, CPA, CFE, CFF
Partner
Friedman LLP

Business Valuation Track

1-A&A

Due Diligence During COVID-19 and Beyond

Discuss the "prior" state
Impacts on the process, including increased reliance on technology, target personnel implications and timing
Higher risks, including increased focus on supply chain, customer/industry concentrations, inventory reserves, and workforce issues
Nature and timing of site visits
Unique situations: inventory validation and CARES Act programs (including compliance, loan forgiveness, etc.)
Lending environment and increased scrutiny
Consulting standards, including clients’ assumption of risk and report disclaimers
Expectations for the future: uncertainty

Speakers