You’ll earn 16 CPEs. We have a block of discounted rooms available at each hotel. Space is limited.
Experts from Deloitte, E&Y, PwC, KPMG and Connor Group will lead the discussions and we will typically have 50-75 attendees. Save an extra $100 if you register three or more people together.
1. Register online using a credit card and the links above
2. Or Register by phone at (610) 789-3110
3. Or Email reply with your contact info to be invoiced
Accounting Conferences andSeminars, LLC is registered with the National Association of State Boards ofAccountancy (NASBA) as a sponsor of continuing professional education on theNational Registry of CPE Sponsors. State boards of accountancy have final authorityon the acceptance of individual courses for CPE credit. Complaints regardingregistered sponsors may be addressed to the National Registry of CPE Sponsors,150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417.
Link to agenda and registration info for 2016 event on June 23-24 at San Francisco Marriott Burlingame: 2016 SOX Details
Given by Ernst & Young
There are a combination of drivers leading to the increased focus on risk management. The regulatory drivers include SEC proposed changes to disclosure and transparency. The market drivers include lack of transparency over company strategy for stakeholders, recent misstatements in account statements and recent sharp movements in equity values. The corporate drivers include requirements to meet risk-return trade offs, ability to assign risk appetite to various business units and capital adequacy.
Rick management adds value by enhancing decision quality, efficiently allocating resources and proactively managing volatility.
Some of the common challenges to implementing an adequate risk management program include “turf battles”, lack of common language, achieving buy-in and establishing quantifiable metrics and measurement.
Ernst & Young speakers recommended these initial steps: seek board and management involvement, select a strong leader, establish a management committee/working group, conduct a enterprise risk assessment, develop initial risk reporting, develop next phase of action plans.
Presenter: Scott Laliberte is Protiviti’s Managing Director leading the firm’s Vulnerability and Penetration Testing Solution, and is one of three Managing Directors that reviews and approves all of Protiviti’s PCI reports on compliance. Laliberte has been with Protiviti since the start of the firm in 2002 and has more than 20 years of experience in information technology risk and security consulting. He is a published author and accomplished speaker. He has security expertise in numerous industries including financial services, retail, hospitality, healthcare, higher education, manufacturing, and consumer packaged goods.
Scott opened up the presentation by referring to recent breach trends and top of mind cyber issues. The most common recent attack include Phishing and Spear Phishing (directed at higher level for wire transfers), sophisticated malware, attacks directed through third parties etc.
The purpose of these new attacks are multifaceted to gather data for identity theft, fraudulent wires, stealing intellectual property and ransom. Some of the future issues – as a result of interconnectivity – may include planes, trains and automobiles and other infrastructure.
The industry sectors impacted by these attacks in order by percentage: healthcare, retail, education, government, financial, software, hospitality, insurance, transportation and arts/media.
Some of the key findings from the Protiviti IT Security and Privacy Survey according to Scott:
Board Engagement is key: Organizations with a high level of board engagement in these risks have significantly stronger IT security profiles.
Lack of key “core’ information security policies: One in three companies do not have a written information security policy (WISP). More than 40 percent lack a data encryption policy. One in four do not have acceptable use or record retention/destruction policies.
Lack high confidence in ability to prevent cyber attack or data breach: Lower confidence levels among IT executives and professionals in preventing an attack or breach likely speak to the creativity of cyberattackers and, in many respects, the inevitability of a breach – and the need for strong incident response planning and execution.
Not all data is equal: The percentage of organizations that retain all data and records without a defined destruction date has more than doubled – not necessarily a positive development.
Many are unprepared for a crisis: There is a significant year-over-year jump in the number of organizations without a formal and documented crisis response plan to execute in the event of a data breach or cyberattack.
From Dec 2015 presentation at Financial Accounting & Reporting Update
Venue: Philadelphia Hyatt Bellevue
Link to upcoming 2016 conferences where this topic will also be covered: 2016 Events
Speaker: Pat Woodbury is a Managing Director at FTI Consulting and is based in Washington, DC. Ms. Woodbury has more than 30 years of experience gained through consulting and at the Public Company Accounting Oversight Board (PCAOB), the U.S. Securities and Exchange Commission (SEC), in corporate financial management and public accounting. She provides expert, advisory consulting and investigative services related to technical accounting, auditing, financial reporting, professional responsibility, FCPA and other SEC related issues.
Pat led off the session with a discussion of the SEC organizational structure and a discussion of the renewed focus on financial reporting fraud. SEC Disclosure Effectiveness Initiative was created with the intent to update and modernize specific disclosure requirements, eliminate duplication, provide only material information.
Pat summarized the efforts of the SEC Enforcement Division including their aggressive firsts:
admission by an auditing firm
action against a Big 3 credit rating agency
first high frequency trading manipulation action
Enforcement’s priorities for the next year include a focus on complex financial products, gatekeepers, financial reporting and accounting fraud.
Pat went on to explain how the Enforcement Division will utilize technology (and data analytics) to better understand and root out fraud.
Pat’s summary of recent financial restatements included the following data:
The most recent restatement undermined reliance on previously-filed financial statements (i.e., an 8-K Item 4.02 was issued). Only about 30% of recent restatements fall into that category
The restatement affected three years of financial data. Companies on average had to go back only 1.5 years to correct financial statements
It typically takes companies on average only about a week to file restated financial statements.
Companies on average lose more than a quarter of their market value following a material financial restatement
Pat covered the evolution of Dodd-Frank. The Commission has now proposed or adopted over 90% of the rule-making. The final rules to be written are on a regulatory framework for over-the-counter derivatives and disclosures around executive compensation.
Link to upcoming 2016 conferences where this topic will also be covered: 2016 Events
Here is a link to the 2016 events from ACS: 2016 Events
We typically have 50-100 attendees at each event with expert speakers from the Big 4 and beyond. About 90% of the audience is typically comprised of accountants working in industry. Here is what some of the 2015 attendees had to say about recent events:
I attend this conference every year – very good mix of regional firms and Big 4 –Aruba Networks
This was my first ACS training. I was incredibly impressed with the caliber of the presenters. The topics were timely and relevant. I’ll definitely be encouraging my colleagues to use ACS for their future training needs. –SolarCity
Great conference – plenty of key insights for me to bring back to my team. –Aviation Capital
Facilities and food were top notch. Will definitely return. –Luminex Corporation
This conference continues to be one of the best CPE events I’ve been to -Quaker Chemical
Excellent conference and love the facility -HID Global
Great materials and facility -Pivot Consulting Group
Found the conference to be a great value and very well done -Cadence Design Systems
This was an extremely beneficial conference and I would do another seminar with ACS -JG Wentworth
An excellent summary of recent changes in GAAP, SEC, fraud and megatrends -Baker Healthcare Consulting
Great conference. Extremely relevant and hits all relevant topics, views and areas -Excentus
Informative and well organized. Will definitely recommend -Immucor
Excellent conference. Was glad that presenters provided substantive written materials to supplement the discussion -Perforce Software
This conference was very informative and all of the presenters were very knowledgeable. I learned a lot that I will be able to take back to my company and most likely will return next year -Factual, Inc.
Great conference – will attend again and encourage others to do so -Adobe
Timely and relevant topics presented by knowledgeable professionals –Solera Holdings
Enjoyed the conference. Choice of topics were very relevant and speakers were knowledgeable and engaging -Equinix Inc.
Great conference, well organized and great speaker knowledge -Grey Healthcare Group
Great Job! Keep it up! -Stoneridge
Great conference, very well run -Performance Sports Group
Overall, the conference was great. Quality of the speakers was excellent and topics covered were relevant. I felt that my time was well spent and I walked away with valuable knowledge that I can used to benefit myself personally as well as my company professionally -Iron Mountain
Excellent training -Medtronic
Great conference. I will certainly look to ACS first for my next CPE needs. Thank you -Bazaarvoice
Great conference. Will look to attend more ACS conferences -WP Engine
First ACS Conference….great! -Home Depot
First time attending. Great presentations: quality material covered, mix of topics, level of details, length of presentations. Great value as well -Cal Water Service
Led by Rita Dhir, PwC Director Date: September 2015 Event: Accounting Update for Technology Companies Conference Here is a link to similar upcoming events: 2016 CPE Events
Speaker bio: Rita Dhir is a Director in PwC’s National Professional Services Group based in San Jose. She has over 15 years of experience in serving technology companies ranging from venture capital-backed start-ups to public multinationals in the computers and networking, software, internet and semiconductor industries. She has advised non-audit clients in their successful implementation of the new revenue recognition standards, including establishing fair value / estimate of selling price for multiple element transactions, and related design of effective internal controls. Rita graduated from the University of Illinois at Urbana- Champaign with a B.S. and M.S. in Accountancy, with a special focus in Taxation. She is a member of American Institute of Certified Public Accountants and the California Society of CPA.
Rita began the presentation with an overview of cloud computing including the definition, market size and characteristics of software-as-a-service (SAAS) companies. The next step was an examination of how to determine whether the arrangement falls under “software” or “service”.
Rita took the group through SAAS arrangements with multiple elements and the four stepsin an example: Determine whether separate contracts are actually one multiple-element arrangemet Identify all the deliverables Determine which deliverables may be treated as separate units of accounting Allocate the transaction consideration to units of accounting (VSOE, third party evidence, managements best estimate of selling price).
The presentation closes with a look at SAAS under the new revenue recognition rules: Determine performance obligations Allocate the transaction price based on relative standalone selling price Management must estimate variable consideration (e.g., SLA) when determining the transaction price SaaS arrangements that include a license of IP and have usage-based fee structures are likely to be recognized only when subsequent usage occurs Contingent revenue guidance on allocation of revenue to services is replaced by application of the constraint to the transaction price Collectability is assessed as part of the identification of the contract
ACS is offering 2016 Revenue Recognition Accounting Conferences in San Francisco, San Jose, Philadelphia and Boston.
The 2016 Leasing standard is also set to be released. Find out about the details and other FASB & SEC related topics at the Financial Accounting & Reporting Updates in San Jose, Boston, Philadelphia, Chicago, Austin TX, New York City and San Francisco.
We will also be getting more industry specific with a 2016 Software Revenue Recognition Conference, 2016 Life Science Accounting Update and 2016 Accounting Update for Technology Companies as well as an Accounting Update for Private Companies.
Each of these events qualify for 16 CPEs – approved in all states. Speakers are experts from the Big Four and beyond. The audience is typically comprised of 40-90 attendees from industry. Pricing is $795 if you register at least 45 days in advance (regular price id $995 per person).
From October 2015 Conference at Marriott Tysons Corner
Led by Deloitte’s Wei Sheng, Antionio Farias and Ryan Gulino
See upcoming conference dates – including 2016 SOX event details: 2016 Schedule
The Deloitte team led off the discussion with a summary of the 2013 COSO Framework – the components and principles including the key areas of focus (Risk assessment concepts, outsourced service providers, information technology). They also discussed who actually implemented the new framework: as of April 2015, 75% of companies with public filings had used the framework.
Deloitte was hearing the following implementation challenges from the marketplace:
−Effective evaluation of design for internal controls, including entity-level controls
−Demonstrating an effective ethics program
−Maintaining an effective risk assessment process that considers risks to financial reporting, fraud risks, and changes to the entity
−Segregation of duties
−Effective design of management review controls
−Internal controls with respect to outsourced service providers (OSPs)
−Information quality and reliance on erroneous data or reports
Their response for best practices for these common areas included:
−Effectively evaluate the design of controls considering multiple factors
−Develop a strong tone at the top related to ethics programs, provide code of conduct to both employees and third parties, and monitor violations reported.
−Review and refresh your risk assessment process annually, including financial reporting and fraud considerations, to account for any changes that occurred.
−Establish and test controls that address segregation of duties conflicts, from both a preventive and a detective standpoint, across business and IT.
−Assess the precision of management review controls and certify that such controls have been consistently executed.
−Establish governance & oversight of controls executed by OSPs.
−Design specific controls over data, including non-system-generated reports and data to and from OSPs.
The team also discussed PCAOB areas of focus and went into the evolution of SOX Compliance. They described the movement from controls rationalization to controls optimization, check-the-box to meaningful execution, effectiveness to efficiency and risk response to risk identification.
Deloitte closed the presentation with a description of the three lines of defense, third party risk management and cyber risks.
See upcoming conference dates – including 2016 SOX event details: 2016 Schedule
Pat Woodbury is a Managing Director at FTI Consulting and is based in Washington, DC. Ms. Woodbury has more than 30 years of experience gained through consulting and at the Public Company Accounting Oversight Board (PCAOB), the U.S. Securities and Exchange Commission (SEC), in corporate financial management and public accounting. She provides expert, advisory consulting and investigative services related to technical accounting, auditing, financial reporting, professional responsibility, FCPA and other SEC related issues.
Ms. Woodbury’s experience includes assisting companies with the analysis, accounting and disclosure for various complex transactions. She has assisted companies in responding to comments raised by the SEC’s Division of Corporation Finance and other communications with the SEC. She has advised companies on complex accounting issues has provided assistance to public and pre-IPO companies with SEC filings, including “pre-reviews” prior to filing and advised registered accounting firms in their interactions with the PCAOB.
Ms. Woodbury’s experience also includes financial fraud investigations, forensic accounting, FCPA investigations, compliance reviews and other litigation support. She has provided expert opinions related to internal controls, SEC reporting and the responsibilities of auditors.
On Dec 15-16, 2015 at Financial Accounting & Reporting Update at Philadelphia Hyatt Bellevue
Patricia began the presentation with an overview of the SEC Organization structure. Patricia provided an update of SEC Enforcement activities including their newest milestones and more aggressive stance. The Division’s priorities for the coming year include a focus on complex financial products, gatekeepers, financial reporting, market structure, insider trading, and municipal securities.
The next are of focus in the presentation was SEC Comment Letter Trends and the most common areas by percentage:
Fair Value Measurements
Signatures, exhibits and agreements
Non-GAAP financial measures
Intangible assets and goodwill
Executive Comp disclosures
Acquisitions and business combinations
Patricia also detailed the latest rends in restatements, SEC whistleblower program, FCPA, international convergence, Dodd-Frank Act, Clawback policies