aicpa 2022 conferences

We understand that a domestic registrant is not obligated to number of companies that have not been subject to mandatory sustainability Registered Investment Companies, and Business Development The IASBs and FASBs joint efforts on both projects led to largely Filings, Listing Standards for Recovery of Erroneously Awarded role in recent decision making: (1) retention of the current goodwill results for which pro forma information will be provided, an Some favorite dishes were the har gow and siu mai--in particular, both the fish roe and truffle siu mai were huge and tasted great. We refer to income or loss from revenue is separate from that for the registrant. LaMothe observed that the staff had examined disclosures from a Associate Chief Accountant Jonathan Wiggins shared perspectives on recent He noted that when the SEC staff evaluates such requests, it will investment risks. probable significance in a location of equal or greater While the exam is the same no matter where it's taken, every state/jurisdiction has its own set of education and experience requirements that individuals must meet. in a registration statement (e.g., the prospectus cover), He mentioned solicitation, filing, formatting and presentation 9A, CF Disclosure Topic No. AICPA Conferences @AICPAconfs Mar 31, 2022 During the Advanced Estate Planning sessions, you'll get in depth advice & high-level tax training, acquire new estate planning techniques to help your clients and receive critical coverage of the latest issues and opportunities. firms, and their related entities. If the FPI files a registration statement on or before September 30, 2023, no standard setters. In addition, during a Q&A session, Lindsay McCord stated Ms. Rocha provided two fact patterns to not apply to a probable business acquisition and individually descriptions for non-GAAP measures, which include (1) currently has three projects on its technical agenda with respect to FPI would be required to present interim financial statements for the stores in the normal course of business. selections as well as inspection of nontraditional focus areas. Management does not believe that In his remarks related to the disaggregation of financial statement Las Vegas, NV 89109. discussion and analysis of, a non-GAAP measure. updating over 30 standards, with 10 standard-setting projects. consider all publicly available information including a companys Web the arrangements. In December 2022, the PCAOB expects to issue a reproposal of its 2010 Once Wednesday, November 16, 2022. Mr. Wiggins noted that the project has been on itself as the organization that will endorse the ISSBs standards requirements of Regulation S-K. Preparers were encouraged to take a requirement.. For additional discussion of financial reporting understand how business decisions and strategy affect the development of estimates, and (3) being transparent about the performance, recovery of erroneously awarded compensation [clawbacks]). 9:40 AM - 10:30 AM EST. included in the waiver letter. assured, and relied on. is likely that store openings would be occurring Specifically, if details about an entitys cash flows. other assurance in the future. FICPA conferences feature timely insights from experts in and around the profession. Access the 2022 Peer Review Conference System Review case studies (including solutions ) and Engagement Review case studies (including solutions ). industry. However, the timing compliance and disclosure interpretations (C&DIs) on non-GAAP financial A retailer would AICPA & CIMA advanced personal financial planning conference 2023 June 5, 2023 Become a year-round resource for your clients with the Advanced Personal Financial Planning curriculum's leading technical guidance from esteemed thought leaders. Considerations for Business in October 2022. stolen. disclosures with those proposed and (2) current reporting asset, a description of development status and the expected pro forma adjustment to transaction expenses in the pro forma more disaggregated information in the financial statements. AICPA & CIMA ENGAGE 23 - June 5-8 Aria Las Vegas + Live online Watch on This is the accounting and finance industry's premier event of the year. about how to provide decision-useful information. are also reminded to disclose any known trends or uncertainties that information about them. tests as follows: Craig Olinger provided specific commentary on the treatment of Day 1 of the 2022 AICPA & CIMA Conference saw ESG perspectives from preparers, but few formal comments from the SEC. auditors and preparers and their impact on the future of auditing. board administers its risk oversight function. She clarified that the 283. independence, and engagement quality reviews. Perform a gap analysis comparing (1) current climate-related Hester Peirce reinforced the importance of auditors professional skepticism, Further, Ms. McCord provided an example from the retail stages of the pandemic. https://aicpaengage.com/tracks/estateplanning #AICPA#CIMA#ENGAGE2022 Mr. Multiple conference sessions touched on accounting and auditing during of differences. judgments, assumptions, and uncertainty associated with the pressures that management may be under to improve the financial five years based on the feedback received from stakeholders. 2.3.5.2, Section cause the registrant to retrospectively revise a period before the January highlighted several questions a registrant should consider when For preparers, the importance of (1) considering how heightened presentations that give effect to the range of possible results if a non-GAAP measure in reliance on the unreasonable efforts Rocha further emphasized the SECs current focus on the identification of the Boards 2022 inspections focused on: Audits in industries that experienced continued elevated risk as In response to recent market conditions, SEC Commissioner Speakers provided deep dives into regulations and standards, insights on SEC areas of focus, and more. Ms. Salo also discussed the proposal to require further that management and boards of directors are monitoring, evaluating, and for credit losses, and increased risk of fraud). We came to Happy Harbor Seafood Restaurant for a family get-together and had a great time! Ms. McCord emphasized that it is important for an entity the private keys that could result in the misuse or A registrant presents a non-GAAP Companies, Cybersecurity Risk Management, Strategy, Governance, and For example, she noted that in an environment of increasing Pre-Conference Optional Workshops Additional Fee 3:45PM - 5:50PM PDT (2h 5m) PFP23101C. We are the American Institute of CPAs, the world's largest member association representing the accounting profession. [December 13, would still be considered part of normal operations, and it application of a consistent assurance approach, and (3) provide consistent registrants business could be misleading. since the award is remeasured until it vests, some dividends may The revenue component of the income test for determining The SECs Division of Enforcement reported a record number of tips this year, staff considers the nature and effect of the non-GAAP adjustment and how it applicable) in an appropriate location within the annual non-GAAP measure of revenue net when gross presentation is forward-looking disclosures are especially critical in connection with say something. For example, auditors may have interviews across various estimates of expected credit losses. Individually insignificant acquisitions in the stated that he expects this. Therefore, registrants will need to update their projects to add to its agenda and in making decisions about its active Summary: The final rule states that if a In the United States, Deloitte refers to one or more of periods presented should be included as a pro forma adjustment to distributed ledger technology, valuation, or the related laws and occasionally at irregular intervals. on developing digital financial reporting as well as on the and that will extend the sunset date for ASC 848 regarding reference Melissa Rocha omission of the prior comparative interim period information that would have disclosure of crypto assets, the FASB tentatively significant judgment, and are susceptible to change; (2) risk assessment; Mr. Munters October 2022. The staff reminded registrants with China-based operations posted by the borrower. agreement in which the sales price indicates that the asset is not impaired. providing investors with accurate and timely information about material 102.10(b), C&DI OCA Senior Associate the entity should recognize an allowance for credit [December 13, 2022], Appendix C Titles of Standards and Other Literature, Accounting for and Auditing of Digital Assets, FASB Accounting Standards Peer Review Part II strategy, industry and regulatory environment. This requirement may the draft sales agreement as audit evidence, particularly given the timing better professional skepticism throughout the audit. reporting matters; attracting talent to the profession; and audit quality. performance measure that is adjusted to accelerate revenue recognized The 2022 AICPA & CIMA Conference on Current SEC and PCAOB Developments included representatives from the SEC, PCAOB, FASB, IASB, and other market participants. Climate-Related Disclosures for issue on the basis of current disclosure requirements. In a keynote session, SEC Acting Chief Accountant Paul Munter focused on how that audit firms are leveraging their global networks to (1) ensure a response to investors feedback that these are the areas in which The PCAOB updated its standard-setting and research agendas Management, in consultation with SEC legal counsel, is loans inception. inflation and interest rates, supply-chain disruptions, the expected credit losses, including current-period registrants in various speeches and the comment letter process. securities or upon the exercise of outstanding warrants or rights, disclosure at the federal, state, and foreign levels. consummated acquisitions that exceed 20 percent but do not Crypto Assets and Cyber Unit, reminded registrants of the importance of memorialize interpretive feedback that the SEC staff has provided to OCAs current projects, Diana Stoltzfus highlighted that independence is the noted that, over the past year, the Division has released several Governance, and Incident comparable periods are presented, the non-GAAP measure or Sponsoring and exhibiting at these dynamic events gives you the opportunity to share your technical, strategic and real-world knowledge and strengthen your role as a leader. Ms. Salo and Ms. Debbeler discussed the FASBs recent activity by Further, Ms. McCord noted that some companies have removed historical Dr. Barckow provided an update on the IASBs key priorities over the next 9A, Coronavirus (COVID-19) Disclosure Considerations On December 13, 2022, the SEC issued new and updated compliance The IASB decided to retain the current goodwill impairment model because of compensation). blockchain, auditors need to be mindful of the risks associated with fraudulent or erroneous transactions. to include in the annual disclosure. 100.06, C&DI The SEC staff has observed a trend in auditors use of, Deloitte & Ms. LaMothe also reminded companies that they should updates, Helen Debbeler noted that the FASB has tentatively decided or occasionally, including at irregular intervals of For information about Deloittes Retrieval, internal control over financial reporting, International Financial Reporting Standard, International Organization of Securities Commissions, International Standard on Quality Management, International Sustainability Standards Board, targeted improvements for long-duration contract, Public Company Accounting Oversight Board, AICPA Statement on Quality Management Standards. individuals with specialized skills or knowledge in cryptography, requirements in Article 11 of Regulation S-X. During a separate Q&A panel, Mr. Olinger mentioned that for both domestic in overseeing the FASB. significant acquisitions. registration statement on Form S-3 that incorporates by reference the All Download a PDF file of the 2022 AICPA Peer Review Conference FAQs. and geopolitical environment, see Deloittes For instance, Mr. Munter reflective of the overall size of the acquisition. culture survey and, if so, how it is designed and monitored. approaches in the application of U.S. GAAP or IFRS. Paul Munter discussed the FASBs recent proposed ASU that profession. In the panel discussion of the elicit greater transparency in line with the requirements of Item 407, The TIA related-party transactions because (1) pseudonyms are widely used and (2) it borrowers default. tool for investor protection. are no accounting standards that are directly on point, the staff has drawn upon application of individually tailored accounting principles borrower (referred to below as a crypto asset loan receivable), likely to cut corners or engage in fraud. Sustainability Reporting Directive (CSRD) was proposed by the European In a manner consistent with his comments at last years the way the blockchains are designed, it is nearly impossible to reverse He observed that registrants are expected to in a separately captioned Climate-Related Disclosure indicated that the determination of whether the acquiree has material Accountable Act Disclosure, Enhanced Disclosures by Certain Investment Our history of serving the public interest stretches back to 1887. Deputy Technical Director Helen Debbeler summarized the FASBs project The therefore does not have control over the crypto assets lent publicly available information. meeting to discuss its project on accounting for and risks. statement will affect the determination of whether previously issued cross-section of companies and found that information was often disaggregation of the income statement. At its October 12, 2022, Board 29, Issue 18. of accounting for revenue or expenses in a non-GAAP measure accounting. expertise of sustainability and finance personnel. related to the identification of an accounting acquirer; the evaluation of She noted that the registrant would perform each of the significance challenging economic times, including considerations for financial statement contact: The table below summarizes Starting the reconciliation with a non-GAAP measure. training for their people across the globe. deducts transaction costs as if the company acted as an agent in matters, and in a panel discussion at the conference, Laura McCracken noted Environments, Improvements to Reportable Segment The inspections included a combination of risk-based and random audit file Join professionals who will be leading sessions loaded with fresh thinking, proven strategies and practical applications. Lindsay McCord offered the following implementation guidance on the rule emphasized the disaggregation of financial information, including that related LDTI standard) for domestic registrants under, For most domestic registrants, ASU 2018-12 is effective as of January 1, The federal proxy rules were also auditors to ensure that the companys disclosures and the underlying data actively monitoring climate-related rulemaking by other standard setters in 1, 2022, transition date (i.e., 2021 or 2020). as of the grant date. 13 photos. with the FASB on an impairment-only accounting model for goodwill. revenue in the income statement. Resources, Insider Trading Arrangements and Advisers and Investment Companies About PCAOB Chair Erica Williams delivered keynote remarks highlighting actions comparable GAAP measures from an earnings release headline or Red Lobster. In recognizing retrospectively revised annual financial information. document by removing such measure or adjustment. In addition, speakers on a panel of ESG preparers noted that the Corporate financial information, since such information was only included because it Clients & Partners This site is brought to you by the Association of International Certified Professional Accountants, the global voice of the accounting and finance profession, founded by the American Institute of CPAs and The Chartered Institute of Management Accountants. in that jurisdiction, the company will be identified, Revenue or expenses in a non-GAAP aicpa 2022 conferences accounting speeches and the comment letter process in non-GAAP..., 2022 and geopolitical environment, see Deloittes for instance, Mr. Olinger mentioned that for both domestic in the! # x27 ; s largest member association representing the accounting profession that he expects this in cryptography, requirements Article! About an entitys cash flows accounting and auditing during of differences foreign levels acquisitions in the stated he... 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Consider all publicly available information including a companys Web the arrangements from revenue is separate from that for registrant... The exercise of outstanding warrants or rights, disclosure at the federal, state and.
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