Wednesday, June 5, 2019 – Wednesday, June 5, 2019 | 8:00am – 4:30pm

Accounting & Auditing Conference

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Agenda

7:15 – 8:00 a.m.

Breakfast and Registration


7:00 – 7:50 a.m. 

Early Bird Session (Optional)

Bringing Artificial Intelligence to Financial Audit    

In this presentation, participants will get an introduction to MindBridge Ai Auditor and learn firsthand how artificial intelligence and machine learning are disrupting the internal and external audit space. Participants will see a demo of the product and see for themselves how AI increases efficiency and effectiveness throughout the audit process. In this session, participants will learn:

  • The background of AI and machine learning and how it’s disrupting many industries including financial analysis and auditing;
  • The opportunities that big data brings to the audit profession and how an AI-powered tool like MindBridge Ai Auditor helps to harvest those opportunities; and
  • Key features of MindBridge Ai Auditor (product demo).

 *This session will be presented by Stefan Celeski, Senior Program Manager Education (MindBridge Ai). MindBridge is a sponsor for the 2019 Accounting & Auditing Conference, helping to keep registration costs as low as possible. This vendor session will feature MindBridge technologies and demos, and will include 1 extra hour of CPE credit.

8:00 – 8:10 a.m.

Welcome and Opening Remarks

Amy Pitter, The Massachusetts Society of CPAs


8:15 – 9:30 a.m. 

2019 Update on Standards for Audits, Reviews, Compilations, and Presentation Engagements

Michael Glynn, CPA, CGMA, AICPA

In this session, we’ll cover recently issued audit, attest and SSARSs standards and guidance including the recently issued suite of auditor reporting standards and new requirements for reporting on financial statements of employee benefit plans subject to ERISA. The discussion will also include standards expected to be issued in 2019-2020 including proposed revisions to standards for agreed-upon procedures engagements and standards on materiality and adverse conclusions in a review engagement. 


9:30 – 10:45 a.m. 

The Evolution of Data Analytics

Todd Knapp, Envision Technology

In this engaging and informative session, we will explore the evolution of analytics in business today and examine some of the tools and platforms used to gather and visualize data, as well as real world examples of amazing advances companies have made by leveraging data intelligence. We will also discuss the role this wealth of data may play in the audit of today, what changes CPAs need to be making now to prepare for our data-fueled future and more.


10:45 – 11:00 a.m. 

Networking Break


11:00 a.m. – 12:15 p.m. 

Leases

Kenn Heaslip, CPA, Loscalzo

The FASB recently finalized a new lease standard (ASU 2016-02, Topic 842) that makes significant changes in lessee accounting and disclosure. Effective this year (or 2020 for nonpublic companies), most long-term leases will be capitalized on the balance sheet as right of use (ROU) assets and lease payment liabilities. This session will cover lease definition, lease classification, lease accounting and lease disclosures for both the lessee and lessor.  We'll also illustrate the accounting for finance and operating leases for both lessee and lessor as well as related business implications of the new lease standard.


12:15 – 1:00 p.m.

Lunch


1:00 – 2:00 p.m. 

Concurrent Sessions (choose one)

Nonprofit Changes

Marci Thomas, CPA, Loscalzo

Over the last few years, the Financial Accounting Standards Board (FASB) has issued record numbers of accounting standards updates (ASU), with several of them having been part of its simplification efforts. Many have significant impact to nonprofits (NFPs), such as ASU 2016-14 which significantly changes nonprofit reporting and disclosures and ASU 2018-08 which impacts contributions made and contributions received (grants). This session will discuss these pronouncements as well as the AICPA’s NFP Revenue Recognition Task Force’s analysis of how ASU 2014-09 specifically impacts NFPs.

 

Blockchain Demystified: What It Is, How It Works and How It’s Shaping Our Future

Todd Knapp, Envision Technology

Blockchain’s potential to transform commerce and digital chain of custody has been compared in magnitude to the impact of the Internet itself. In this session, we'll discuss the future of this technology with an eye towards providing an easily digestible, practical explanation of what distributed ledger and blockchain are, and what they are not. We'll also cover several examples of where distributed ledger is being used today, as well as some possible future implementations of this exciting technology.

 

2:00 – 2:10 p.m. 

Change Break

 
2:10 – 3:10 p.m. 

Concurrent Session (choose one)

 
Compilation and Review

Marci Thomas, Loscalzo

Compilations and reviews have been the subject of peer review findings in recent years.  Although they are less complex than an audit comps and reviews are still subject to numerous professional requirements and failure to follow those requirements can result in peer review deficiencies of varying degrees.  This session will focus on the provisions that are frequently missed by accountants as well as current practices issues and developments.

Considerations of Fraud and Illegal Acts in Audit

Steve Yardumian, withum

In this session, we will cover both audit standards related to fraud, as well as real-life examples of fraud and illegal acts, how these frauds were uncovered and what your audit team should do if you were confronted with these situations. We’ll also discuss audit standards related to fraud and illegal acts, consideration of fraud and illegal acts in the planning process and more.

 
3:10 – 3:30 p.m. 

Networking Break

 
3:30 – 4:45 p.m.

FASB Update

Kenn Heaslip, Loscalzo

This session will provide an overview of FASB pronouncements during the past 18 months as well as pronouncements with broad application in detail for other issues and a quick synopsis.

This seminar qualifies for the Workforce Training Express Fund program. The course code for this program is 1115643  Click here for more details: https://www.mscpaonline.org/cpe/training_fund

Speakers

Michael Glynn

Michael Glynn

Michael P. (Mike) Glynn, CPA, CGMA, is a Senior Technical Manager in the AICPA Audit and Attest Standards Team. In this capacity, Mike serves as the staff liaison to the Accounting and Review Services Committee (ARSC). In addition, Mike supports the activities of Auditing Standards Board (ASB) and its subcommittees by assisting members in drafting and deliberating authoritative professional standards and interpretations. Prior to joining the Audit and Attest Standards Team, Mike was a technical manager in the AICPA SEC Practice Section (SECPS). In that capacity, Mike supported the Quality Control Inquiry Committee (QCIC) by participating in deliberations of QCIC cases and participating in meetings with the Securities and Exchange Commission regarding the SEC’s oversight of the self-regulatory process. Prior to joining the SECPS, Mike was a technical manager in the AICPA Professional Ethics Division. Prior to joining the AICPA in April 1998, Mike worked at Ernst & Young LLP in New York. Mike also serves as a member of the New York State Society of CPAs’ Accounting and Review Services Committee. Mike is a graduate of Pace University with a BBA in public accounting.

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Kenn Heaslip

Kenn Heaslip

Kenneth Heaslip, MS, MBA, CPA, CGMA, is a discussion leader and group practice leader in Professional Ethics for LOSCALZO ASSOCIATES LTD. Kenn has extensive experience teaching all levels of accounting, auditing and in other practice related areas. He has served as Vice President and Trustee of the New Jersey Society of CPAs, Secretary of their Scholarship Fund and President of the Essex Chapter. He is an active member of several Society committees in taxation and student programs and is past chair of the State Educators Committee. Kenn also serves on the NJSCPA Professional Conduct committee. Kenn is a Director at Leaf, Saltzman, Manganelli, Tendler, & Miele LLP in Fairfield, NJ, a regional CPA firm in Northern New Jersey and New York City. Kenn is also an Associate Professor of Accounting at Bloomfield College. He previously was an Executive in Residence at Seton Hall University where he was the students’ choice as “Educator of the Year” two years in a row. He taught in the Executive MBA program at Rutgers University and has been with Becker CPA Review since 1983. Until 1998, Kenn was the National Director of the Becker CPA Review Course, where he was responsible for course content and instruction quality. At Becker, he oversaw and trained over 350 instructors as well being the lead editor of all the course materials. Kenn lectured extensively throughout the United States, as well as in Canada and Asia. Kenn earned his B.A. from Rutgers University and has an M.S. in Taxation and M.B.A. in Finance, from Seton Hall University.

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Todd Knapp

Todd Knapp

Todd Knapp is CEO of Envision Technology Advisers, a technology and business consulting firm that has offices in the Providence and Greater Boston areas. Since starting Envision in 1998, he has provided enterprise level consulting and implementation services to a vast range of businesses including public companies, multi-national banks, hospital systems, higher education institutions and financial services organizations. His career began in the small business and non-profit space, operating as an independent consultant. Knapp has been providing IT services nationally for 20 years and has an extensive background in enterprise network architecture and strategic planning.

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Margaret Thomas

Margaret Thomas

Marci Thomas, MHA, CPA, CGMA is an author and presenter on various nonprofit, healthcare and governmental topics to nonprofits, CPA firms and state societies of CPAs around the country. She also writes and teaches courses in governance, financial management, grants accounting, strategy and various operational topics. Additionally, Thomas is a clinical assistant professor in the School of Public Health at the University of North Carolina at Chapel Hill and is an adjunct professor at Emory University in the Goizueta Business School. She works with numerous accounting firms, performing quality control and efficiency reviews and with nonprofit boards on strategic planning, internal control and governance issues.

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Stephen Yardumian

Stephen Yardumian

Steve Yardumian, CPA, CGMA is partner at WithumSmith+Brown, PC’s Boston office. With extensive public accounting experience as well as a five-year term in private industry as a chief financial officer, he focuses principally on providing audit and tax services to investment advisors and pooled investment vehicles such as hedge funds, private equity funds and funds-of-funds. He has experience serving retirement plans and closely-held companies in a variety of industries, including manufacturers, wholesalers, franchises, financial services firms and professional services firms.

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Sponsors

Conference Credits

This course is 8.00 credits

Conference Fees

MSCPA-AICPA Member
$319.00
MSCPA Member
$319.00
AICPA Member
$399.00
Non-Member
$399.00

Conference Cost

You pay
$399.00
MSCPA Members save $80.00 on this course. Login or Join to take advantage of these savings.

Note: This course has sessions associated with it, please select one topic within each session.

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06/05/19, 7:00am – 7:50am Must select one session per timeslot
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06/05/19, 1:00pm – 2:00pm Must select one session per timeslot
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06/05/19, 2:10pm – 3:10pm Must select one session per timeslot
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