2021 Accounting & Auditing Conference 
Originally Aired Dec. 9-10, 2021

Who Should Attend: 
This conference is tailored to practitioners who perform audit, attest, and assurance services and corporate accountants.  

Objective: 
This conference provides updates from the FASB; the AICPA on auditing standards and accounting and review services; and practitioners on emerging trends and technologies, internal controls, and more. 

 8:00 a.m. AICPA ASB Update

-SASs 134-141, which are effective Dec. 15, 2021, and changes to the auditor’s report

-Other recently issued SASs: Audit Evidence, Accounting Estimates, and Risk Assessment

-ASB’s quality management project

-Other projects in the pipeline, including group audits

(1-A&A)

Ahava Goldman, CPA, CGMA
Associate Director - Audit and Attest Standards
AICPA

8:50 a.m. ASC 842 Leases: Implementation Challenges

-Transition considerations when moving from ASC 840 to ASC 842

-Practical expedient options

-IBR considerations and calculations

(1-A&A)

Jaime Krug, CPA
Partner
Centri Business Consulting LLC
 
Curtis Farrow, CPA
Director
Centri Business Consulting LLC

Dan Owens, CPA
Senior Director
Centri Business Consulting LLC

9:40 a.m.    Break

9:50 a.m.   The Future of Accounting, Audit, and Attest Services – Use of Innovative Technologies

-Overview of artificial intelligence and applications in accounting

-Applications of robotic process automation (RPA) in accounting, audit, and tax

-Applications of text mining in accounting

-AI-powered drones for inventory management and risk assessment

Virtual reality/augmented reality in accounting and auditing

(2 -A&A)

Cory Ng, CPA
Associate Professor of Instruction
Temple University Fox School of Business Management

11:30 a.m.    Lunch Break

12:20 p.m.   Internal Controls and SOC Audits

-Who needs a SOC report and why they are important

-The differences between SOC 1, SOC 2, SOC 2+, and SOC 3

-The differences between a type 1 and type 2 report

-What users of a SOC report need to look for

The value of SOC reports when assessing a cybersecurity profile

(1-A&A)

Eric Wright, CPA
Shareholder
Schneider Downs

1:10 p.m.  Enhancing Audit Quality

-Progress of the AICPA’s Enhancing Audit Quality Initiative

-AICPA enhanced oversight findings and frequent practice issues

-Key areas of focus - practical resources and examples

(1-A&A)

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

2:00 p.m. Break 

2:10 p.m. Financial Statement Presentation and Disclosure Best Practices

-New auditing requirement for disclosures and the potential impact on disclosures

-Impact of new accounting pronouncements on disclosures

-Common peer review findings regarding disclosures

-Continuing disclosure challenges regarding impairment, VIEs, and going concern

(2-A&A)

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

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

3:50 p.m. See you next year!