Accounting & Auditing Symposium Webinar

• Identify issues in the remote environment including audit and maintaining the internal controls of a hybrid work environment
• Recognize why, when and how to apply sustainability accounting to financial reporting
• Discuss the latest ASUs regarding Leases, Revenue, Financial Instruments and more that have been released or updated over the last two busy years

All times are Eastern Time Zone

8:30 - 9:20 AM Keynote Presentation:
Gotta Catch 'Em All: What's New at the FASB in 2022? (1 hour Accounting - Technical)

The amount of change in the accounting profession is overwhelming, making it tough for the CPA in industry or public practice to keep up. This session is designed for CPAs in industry and public practice looking to get a high-level update on Accounting Standard Updates (ASUs) issued by the FASB that are going live this year, including Leases. In addition, there will be an overview on how the new Current Expected Credit Losses (CECL) standard will impact all private entities. Join us to catch up on all the important topics.

Leah Donti, CPA, CMA, CMBA - Founder & President, Advantage Montreal Seminars Inc, Montreal, Quebec

9:30 - 10:20 AM

Accounting and Auditing of Digital Assets (1 hour Auditing - Technical)
A day does not pass without hearing about Crypto in the news. This session provided and understanding of how to accounting for investments in, or transactions involving, crypto assets (for example, bitcoin) and other digital assets under US GAAP. As well, it discusses the challenges for auditors.

Leah Donti, CPA, CMA, CMBA - Founder & President, Advantage Montreal Seminars Inc, Montreal, Quebec

Christopher J. Harper, CPA - Director of Education & Affiliate Instructor, Grand Valley State University Seidman College of Business, Grand Rapids

10:30 - 11:20 AM

Data Analytics for the Modern CPA (1 hour Auditing - Technical)

This session explores data analysis techniques that can enhance efficiency and effectiveness of client engagements and business processes. We will introduce popular tools and examine the AICPA's five-step approach to incorporating data analytics into public accounting engagements.

Christopher J. Harper, CPA - Director of Education & Affiliate Instructor, Grand Valley State University Seidman College of Business, Grand Rapids

Asset Tracing: Finding the Truth Behind the Numbers (1 hour Auditing - Technical)

What happens when a fiduciary uses entrusted funds for their own benefit? How do you reconstruct financial records from limited information? What information will assist in a legal case against a fiduciary? This case study will teach you methods to trace assets and reconstruct financial records. Even if you aren't a forensic accountant, you are in a position to catch red flags your tax and audit clients may miss, and you could mitigate their losses.

Brandi Steinberg, CPA, CFE - Forensic Manager, AIG Forensics & Valuation, Marietta, GA

11:30 AM - 12:20 PM

Implementation Strategies: Quality Management Standards (1 hour Auditing - Technical)

The Quality Management Standards, soon to be issued by the AICPA's Auditing Standards Board (ASB) address how CPA firms manage the quality of their accounting and auditing practices. Take a deep dive into these new standards and tackle strategies and best practices for implementation.

Ahava Z. Goldman, CPA - Associate Director - Audit & Attest Standards, AICPA, New York, NY

The Important Role of Leverage Ratios in Business (1 hour Accounting - Technical)

Financial ratios are metrics that determine relationships between aspects of a company's operations and financial position. Gain a deeper understanding of leverage ratios, their purpose, calculation, and the meaning behind them in determining a given organization's ability to maintain operations.

Lynn Fountain - Consultant, Fountain Consulting, Overland Park, KS

12:20 - 1:10 PM Lunch Break

1:10 - 2:00 PM After Luncheon Keynote Presentation

Top Fraud Scheme: Can You See the Forest Through the Trees? (1 hour Auditing - Technical)

Fraud impacts every person and every organization. Let's review information on the top fraud schemes by focusing on the three categories as defined by the Association of Certified Fraud Examiners (ACFE) fraud tree and its three major categories of fraud: corruption, asset misappropriation and financial statement fraud.

Lynn Fountain, CPA, CGMA, CRMA, MBA - Consultant, Fountain Consulting, Overland Park, KS

2:10 - 3:00 PM

Remote Controls: The Art of Remote Audits (1 hour Auditing - Technical)

The ability to make requests, access information, conduct interviews and review documents all create challenges when ensuring that a remote audit follows set standards and best practices. Join this discussion to unpack the finer details, including risks and the changing economic landscape of remote auditing in a post-COVID world.

Catherine M. McNamara, CPA, CGMA - Assurance Partner, BDO, Troy

Additional Panelist to be Announced

Moderator: Lynn Fountain, CPA, CGMA, CRMA, MBA - Consultant, Fountain Consulting, Overland Park, KS

Time to Get SASsy! (1 hour Auditing - Technical)

Several Statements on Auditing Standards (SAS) issued by the AICPA recently, addressing a number of issues concerning audits and audit processes, bear a closer look. We look into recent changes regarding forming an opinion on financial statements of employee benefit plans, new standards on what constitutes audit evidence, risk assessment and more.

Speaker to be announced

3:10 - 4:00 PM

Cannabis Attestation in Michigan (1 hour Auditing - Technical)

Cannabis is a growing industry across the country, but each state has its own requirements for companies seeking new licensure or relicensure. Join our speaker for a review of cannabis attestation rules in Michigan, changes to state law impacting this area, and how to avoid the most common errors in applications and attestation.

Kaleb Grapp, CPA - Partner, Grapp Lerash, Saginaw

Harnessing Technology to Modernize the Audit (1 hour Auditing - Technical)

Accounting technology solutions sounds like something for just the Big Four, right? Well, it isn't! Get the scoop on the latest tools out there and how smaller firms can access. Learn from someone that has applied large firm ideas to a smaller firm.

Andrew Dakki, CPA - Co-Founder, DA Advisory Group, Troy

4:10 - 5:00 PM

A New Lease on Life - Addressing the Challenges of ASC 842 (1 hour Accounting - Technical)

The clock has run out on postponing implementation of Accounting Standards Codification (ASC) 842, Leases! This year marks the beginning year of implementation, and most organizations are already experiencing those implications. Learn everything you need to know to bring your organization into compliance while avoiding the most common mistakes.

Duane M. Reyhl, CPA, CGMA - Audit and Accounting Partner, AHP, Midland

The Practical Application of Sustainability in Accounting (1 hour Accounting - Technical)

The issue of sustainability has become an issue of rising importance among investors and large organizations. Gain insight on the growing realm of sustainability accounting, how to find, measure and manage its material metrics, and learn how to incorporate those metrics into financial statements.

Emily J. Zoet, CPA - Assistant Professor, Ferris State University, Big Rapids

5:00 PM Program Adjourns