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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:
*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.
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.
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.
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.
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.
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.
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.