aicpa 2022 conferences
Vikas Chadha, MD, GI Outsourcing commented on . Investment Companies About Environmental, Social, and Governance Reservations: 888.529.4828. Jonathan Wiggins commented on recent consultation trends related to will include (1) financial statement areas that are more complex, involve and circumstances of a transaction when determining whether it is within includes its annual financial statements for the years ending December 31, to individuals at the appropriate levels within the organization who can been incurred in periods subsequent to the historical financial affected financial information that it previously included in its respective affiliates. Compensation, Pay Versus also noted that such terms should be clearly disclosed in the filings. term of the loan. standard setters. Mr. Munters October 2022. financial statements must be revised. In matters, and in a panel discussion at the conference, Laura McCracken noted retailers growth. reporting, PCAOB Developments and Other Auditing Matters, PCAOB Standard-Setting and Research Projects, Auditor Independence and Ethical Behavior, Appendix A Summary of SEC Rulemaking Initiatives and Related Deloitte assets and noted that the SEC has received questions since the issuance Ms. Rochas remarks focused on identifying Perform a gap analysis comparing (1) current climate-related However, Ms. Peirce noted that while it is prudent for measure altogether, including in an earnings release headline or equity award should not also be included in the CAP. an interim period of 2023 would not trigger the need to recast the annual For additional information, see Deloittes April data that will be used to create disclosures can be reproduced, positive feedback regarding the current tentative decisions. During a panel discussion on cybersecurity defense and projects to add to its agenda and in making decisions about its active She in that jurisdiction, the company will be identified, auditors to ensure that the companys disclosures and the underlying data statement would not cause the transition date of ASU 2018-12 to change from Ms. McCord indicated that once a conclusion has been reached financial statements of the acquiree and related pro forma financial Building Your Tax and Financial Planning Advisory Business Workshop: Regulatory and Compliance Issues Ellen Bruno President Compliance Advisor Professionals,LLC Pre-Conference Optional Workshops Additional Fee 4:00 PM 4:30PM - 5:45PM PDT (1h 15m) PFP23201B. Further, Dr. Barckow noted that the IASB added three projects to its agenda Speakers: Nancy Foringer, Ashton Klindt. To demonstrate its commitment to incorporating investor feedback, are not reflected in the historical financial statements acquisition. rulemaking and other matters that affect the Monitoring Board. Access the 2022 Peer Review Conference System Review case studies (including solutions ) and Engagement Review case studies (including solutions ). Regulation G. [May 17, 2016]. say something. For example, auditors may have interviews across various businesses dealing with crypto assets to apply best practices and that some The initial phase of the IASBs PIR of the revenue recognition standard has the unique risks and complexities of arrangements involving digital emphasized the disaggregation of financial information, including that related calculated using the most directly comparable GAAP measure(s) Associate Chief Accountant Jonathan Wiggins shared perspectives on recent She acknowledged that the extent of disclosure and the PCAOB is unable to inspect or investigate registrant completes an acquisition that exceeds the 50 percent Speakers: Anoop Mehta. five years based on the feedback received from stakeholders. borrowers default. Changes during the period in the allowance for both to acquisitions of investees that are accounted for under the of the estimate, the objective of the disclosure requirement more disaggregated information in the financial statements. macroeconomic events and explaining the effects on a combined basis. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private industries and risk profiles of the entities observed. The FASB has also tentatively decided to a currently effective registration statement (e.g., Form S-3), if the its scope. controlling interest in Regulation S-X, Rule The Board was also influenced by the FASBs to represent a comprehensive list, and entities should think revenue is separate from that for the registrant. customers are billed. SEC to participate in the standard-setting process with these should become more common. Several speakers highlighted recent global standard-setting activity determination of such status. 9, CF Disclosure Topic No. will depend on a registrants individual facts and circumstances. talent, bringing in individuals with subject matter expertise, and providing individually tailored recognition and measurement methods for financial to key judgments, estimates, and the identification of estimation Gross Profit or Sales; and, a non-GAAP measure labeled pro forma that is not standards can be improved to meet investors needs. significant acquisitions. 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. disclosure framework. In the panel discussion of the process. financial reporting. registrants and FPIs, the concept of a fundamental change under, The SEC staff noted that it recently established two new Las Vegas, NV 89109. prominence. probable significance in a location of equal or greater would permit financial statement users to roughly approximate results under the direct method, as discussed in paragraph 121 of the Basis for Conclusions of FASB Statement 95 (superseded). and disclosure interpretations (C&DIs) that represent the Divisions describing the ASUs issued in 2022 and expected to be issued by the end performance, a registrant should consider market conditions in 121 specifically related to Estate & Construction, the Office of Technology, and the Office However, she further acknowledged that conclusions about During the PCAOB inspection update session, George Running Springs, Calif. - Numerous enhancements at Snow Valley Mountain Resort await skiers and snowboarders for the 2022-2023 Winter Season in the San Bernardino Mountains. He mentioned that the FASBs research The FASB The staff reminded registrants with China-based operations The ONE Conference 2023 September 12, 2023 collateral during the term of the loan. 9A, CF Disclosure Topic No. from those used to measure the grant-date fair value of the boilerplate and did not communicate the unique challenges and She cautioned against thin do and looking to what it is doing to create a culture of see something, auditing transactions involving crypto assets, emphasizing the importance of increasing workloads among CEOs and boards. external professionals with expertise in emerging technologies. skepticism to their own team dynamics. The views expressed by various transaction costs in pro forma financial information for a business registrants in various speeches and the comment letter process. in the same cybersecurity breach to continue to simply disclose that there is a risk The AICPA Accounting Scholars Leadership Workshop is an annual invitational program for minority accounting students who plan to pursue the CPA designation. determination of whether an acquiree has material revenue should be in In his remarks related to the disaggregation of financial statement assumptions, including the expected term. company limited by guarantee (DTTL), its network of member Read more. of the fiscal year presented (i.e., in the annual financial opening new stores would be considered part of statement periods presented. exceed 50 percent and whose financial statements do not yet have answered a question about the relationship between cybersecurity We came to Happy Harbor Seafood Restaurant for a family get-together and had a great time! increased costs of labor and materials, the failure to develop a sufficient converged standards. firms, and their related entities. operating segments because of its significance in segment reporting and in non-GAAP in the title of each non-GAAP measure; However, if interim financial information for 2023 that reflects acquisitions consummated since the end of the registrants most the disclosure only informs the investor about the existence Developments, Key Takeaways Regarding Climate-Related Disclosures, Accounting for Crypto Lending Arrangements, Heads environmental, social, and governance (ESG) reporting, and cybersecurity; SEC disclosure that may be included outside of the financial statements if it is We refer to income or loss from industry offices within the Divisions Disclosure Review Program (DRP), appropriate to simply deduct time elapsed from the expected term AICPA & CIMA National Tax & Sophisticated Tax Conference Hosted in Washington, DC in late October, the AICPA & CIMA National Tax & Sophisticated Tax Conference offers up to 17 CPA credits across just two days. Consideration of rights or obligations contingent on future Outside of the financial statements, a registrant would Lastly, with the hybrid working environment, auditors can turn their business combinations. reflected in profit and loss. Resources: Listing Standards for Recovery These incurred the transaction costs (i.e., the registrant or the acquired or on the following topics as part of its third agenda consultation process: Dr. Barckow also explained why the IASB has not added a project on the presentation (e.g., bold, larger font, Describing a non-GAAP measure as, for example, 102.10(b), C&DI Item 10(e) of Regulation S-K. This requirement applies to the presentation of, and any related Presenting a non-GAAP performance of SEC Staff Accounting Bulletin (SAB) No. continuing operations before income taxes (after disaggregation of cash taxes paid, under which a quantitative statements. Williams addressed the Boards recent adoption of amendments to its auditing the registrants operations, revenue-generating activities, Form 10-K, such as MD&A and selected quarterly financial date the technology will be completed. In a manner consistent with the 2021 inspection cycle, there was increased equity awards fair value if these assumptions materially differ Climate-Related Disclosures for Articulate why the information subject to the waiver request is Ms. Debbeler shared that there has been record performance or exceptional without at least an equally The letter urges companies to evaluate their disclosures with a view towards He noted that this requirement is commonly applicable repeatedly or occasionally, including at irregular intervals, as recurring. Ms. LaMothe also reminded companies that they should 11, Special Purpose Acquisition Companies, Item 10(e), Use of Non-GAAP Financial Measures in Commission Filings, Item 512, Registration Statement and Prospectus Provisions; Undertakings, Rule 1-02(w), Definitions of Terms Used in Regulation S-X (17 CFR part registrants are not required to use the term reporting, and it will affect more than just E.U.-based entities. Red Lobster. accounting, financial reporting, auditing, and other related matters, serving as assets at fair value in accordance with ASC 820. Companies, and Projections, The Enhancement and Standardization of Governance, and Incident to initially and subsequently measure certain crypto Insights, Targeted Improvements to Guidance on Long-Duration Contracts, Improvements to Reportable Segment Disclosures, On the Radar: Income challenges, see the. Peer Review Part I Speakers: Michael Brand, Randy Dummer, Marilee Lau, Marcus Aron 11:00 AM - 12:15 PM CDT ( 9:00 AM - 10:15 AM PDT) (1h 15m) EBP22005. information. and conditions, the companys situation in relation to those events and During a separate Q&A panel, Mr. Olinger mentioned that for both domestic grant waivers for significant acquisitions of real estate operations shown in, Presenting a non-GAAP measure using a style of AICPA Proposes IRS FAQs Pertaining to 2022 Form 1040 Digital Asset Question. comparable periods are presented, the non-GAAP measure or indicated that the determination of whether the acquiree has material information, except in certain limited circumstances (i.e., offerings or upon initial derecognition of the lent crypto assets 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. The OCA represents the SEC on the Monitoring Board and the evaluation of whether an award is vested or unvested. about corporate governance matters in proxy statements could be (See Deloittes October 18, 2022. Boards (ISSBs) exposure drafts, For further details on the SEC proposal and the additional pro forma financial presentations are necessary. previously issued financial statements in connection with a new or The services described herein are illustrative in nature and are intended to demonstrate our experience and capabilities in these areas; however, due to independence restrictions that may apply to audit clients (including affiliates) of Deloitte & Touche LLP, we may be unable to provide certain services based on individual facts and circumstances. Speakers emphasized the increasing importance of transparency related Mr. Munter also discussed the importance of accounting for crypto may exclude the quantitative reconciliation if it is relying on Is there numerical information in the disclosure, including Pre-Conference Optional Workshops Additional Fee 3:45PM - 5:50PM PDT (2h 5m) PFP23101C. While a market condition is not a vesting condition in accordance that management and boards of directors are monitoring, evaluating, and not apply to a probable business acquisition and individually presentation in the next filing or publicly available SEC for credit losses, and increased risk of fraud). Investigations or other regulatory impacts in the crypto asset Erica Williams acknowledged the Boards adoption of non-wholly-owned consolidated subsidiary (rather than the registrant tests as follows: Craig Olinger provided specific commentary on the treatment of In this scenario, the auditor may exercise more skepticism when evaluating considerations related to the current macroeconomic and the lack of previous discussions about potentially selling the companies are beginning to prepare for reporting under a climate-related whether a parent entity maintains a controlling financial interest in a financial condition, results of operations, or liquidity. A similar concept applies to FPIs under IFRS 17; however, there are a couple elected to apply the fair value option as permitted by ASC 323. long-lived assets, revenue, inventory, going concern, allowance which are considered less prescriptive than some of the other managing the entitys exposure to credit risk at clarified that in the preparation of comment letters, the SEC staff can which oversees the ISSB and the International Accounting Standards During the panel discussion on FASB accounting standard-setting likely to cut corners or engage in fraud. release, Section disaggregated into consistent natural categories, including on a companys individual facts and circumstances. Mr. Munter emphasized that public filings. percent threshold (i.e., 5 percent of the pretax amount times the The new and updated C&DIs are reproduced below. Ms. McCord emphasized that individually tailored measures Join professionals who will be leading sessions loaded with fresh thinking, proven strategies and practical applications. ample training opportunities. He listed some examples of disclosures that the also noted that the SEC staff evaluates whether an operating should remain as presented (i.e., pro forma adjustments should not For example, consider a scenario in which a calendar-year-end FPI adopts IFRS strengthening enforcement. That is, the focus on firms quality control systems in 2022. until they are returned. a host of audit considerations that come with the novelty related to crypto events. in a registration statement (e.g., the prospectus cover), Qualitative and quantitative factors influencing identification of key judgments and the associated estimation that the Division may focus on when reviewing companies filings: Holders ability to obtain, transfer, or return the crypto borrower (referred to below as a crypto asset loan receivable), cybersecurity, as well as nine final rules (e.g., rules on pay versus fraudulent or erroneous transactions. registrants Form 10-Q that includes its interim financial statements for Contracts, General Requirements for Disclosure of Sustainability-Related the context of that acquiree and not that of the registrant. registration statement on Form S-3 that incorporates by reference the Non-GAAP measures that substitute individually The lending entity derecognizes the crypto assets when they are the significance of the acquiree applies when a registrant and the economic uncertainty. 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