This session will be an interactive discussion with a senior manager from the AICPA’s Audit and Attest Standards Team regarding recently issued standards for audits (SASs), attestation engagements (SSAEs), and preparation, compilation and review engagements (SSARSs) as well as the Auditing Standards Board’s and the Accounting and Review Services Committee’s active agendas. During this session, we will discuss the status of the ASB’s projects to:
The FASB staff will provide an update on FASB projects and activities including, among other topics, accounting for the Tax Cuts and Jobs Act, the Private Company Council, and the Board’s Disclosure Framework Review Project.
The long-awaited revenue recognition standard must be implemented by all entities in the upcoming year. This session will cover the latest guidance being offered by the FASB and AICPA, and will include releases by the AICPA and FASB resource group, as well as guidance related to disclosures. Furthermore, the guidance will include general as well as industry-specific issues in the accounting, presentation and auditing of revenue recognition under the new standard
Cutting through the vast amount of big data to find the “bad” requires advanced tools and techniques and using the right tools can make all the difference and drastically speed up the process. In this session, we will show you how data analytics tools that support evidence examination can give you a real competitive edge. Not only does it reduce work time, but it also provides you with more valuable data, and detects anomalies or patterns you may have missed. Data analytics tools move beyond the normal spreadsheet – and so should you.
We’ll discuss topics related to the importance of compliance quality control standards in documenting an audit engagement, including the requirements of Quality Control Standard No. 8 and the audit standards. Sample size determination, inquiries, professional judgement, significant matters and other audit procedures will also be discussed along with common deficiencies found in peer reviews
ASU 2016-02 on leases continues to be one of the most discussed and controversial of the recent standards changes. This session will include a discussion of the standard and how to prepare for its implementation. We’ll also review companies that addressed the implementation early, the difficulties in identifying leases, challenges in gathering the necessary data to record the initial measurement, the consequences of the new balance sheet and income statement presentation and how companies are approaching the impending implementation.
This conference qualifies for the Workforce Training Express Fund program. The course code for this program is 1112643
Click here for more details: https://www.mscpaonline.org/cpe/training_fund
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.
Joining the firm in 2012, Michael is Principal, IT Audit & Security Services. Michael has twenty years of extensive Information Technology expertise in various disciplines, including operations, control design and testing. Previously, Michael was Vice President and Senior IT Audit Manager at State Street Corporation and is a veteran of the United States Air Force.
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.