Seminar  Program

14th Annual SEC Reporting & FASB Forum for Mid-sized & Smaller Companies


Why You Should Attend

New leadership and new directions at the SEC, FASB and PCAOB have created change and challenge for mid-sized and smaller companies.  The SEC’s expected expansion of the smaller reporting company system along with changes to Regulation S-K and S-X create opportunities for companies to simplify and improve their reporting to shareholders.  Finishing implementation of the FASB’s new lease standard, preparing to deal with financial instrument impairment changes, and the Board’s diverse new agenda will present a multitude of challenges.  The new auditor’s report from the PCAOB will require careful thought about disclosure of issues including critical audit matters. Along with these changes companies also need to stay on top of “normal course of business” activities including, focus areas in the Division of Corporation Finance review process, key issues in the PCAOB inspection process and monitoring activities and developments in the SEC and PCAOB Enforcement Divisions. Learn about these topics and more at this year’s Forum, where our expert faculty will offer practical advice, based on real-world examples, to give you the information and tools necessary to successfully meet current and future challenges in accounting, auditing and SEC reporting.

 

What You Will Learn

  • Understand the changing regulatory landscape and emerging issues, including recent and anticipated developments from the new administration
  • Impact of the SEC’s focus on capital formation
  • Our SEC Reporting Roundtable will provide a lively discussion of current events, including the SEC’s rulemaking and enforcement agendas, changes to the smaller reporting company rules, the status of the Disclosure Effectiveness project, FASB and PCAOB agendas, and corporate governance updates
  • Important developments in CorpFin and the Office of Chief Accountant, including frequent comments and consultation areas
  • The adoption of FASB’s Lease standard is just months away; hear last minute issues and implementation challenges
  • The financial Instrument impairment and hedging standards are final – keep up to date on implementation issues, SAB 74 disclosure, and other challenges
  • Tuning up your MD&A – understand the current focus areas of investors and regulators and how to meet their expectations
  • Recent SEC and PCAOB enforcement actions, whistleblowing developments and ethical challenges
  • And, of course, detailed updates on the latest developments at the SEC, FASB, and the PCAOB

 

Who Should Attend

SEC reporting professionals, including preparers of financial statements and SEC disclosure documents, partners of public accounting firms and their staff, lawyers and corporate legal staff, investor relations professionals, audit committee members, and others involved in preparation or review of the financial statements.

Program Level:
Overview

Intended Audience:
SEC reporting professionals, including preparers of financial statements and SEC disclosure documents, partners of public accounting firms and their staff, lawyers and corporate legal staff, investor relations professionals, audit committee members, and others involved in preparation or review of the financial statements.

Prerequisites:
We recommend first attending the SEC Reporting Skills Workshop or prior experience with the SEC reporting process and use of the Instructions to Forms and Regulations S-K and S-X.

Advanced Preparation:
None


Cancellations

All cancellations received 3 business days prior to the program will be refunded 100%. If you do not cancel within the allotted time period, payment is due in full. You may substitute another individual to attend the program at any time.

Day One: 8:00 a.m. - 5:30 p.m.

8:00 Welcome and Program Overview

Bob Laux, George M. Wilson



8:15 Mid-Cap and Smaller Company Reporting: 2018 In-Review and What’s to Come 
  • Major developments and issues in 2017 and 2018 – what’s left to take care of?
    • Revenue recognition – post adoption follow-up and fine tuning
    • Lease Implementation
    • Tax reform – monitoring actual progress, regulations, measurement estimates
  • What’s coming in 2019 and beyond and what do we need to get ready for?
    • Tax reform going forward
    • The new auditor’s report and critical audit matters
    • Financial instruments impairment
    • Cybersecurity – evolution of the risk and related disclosures
    • SEC focus areas and expected developments
    • PCAOB focus areas and their impact on auditors and clients
  • Impact of new leadership at the SEC and PCAOB
  • Focus on capital formation
    • Changes to smaller reporting company rules
    • Emerging growth company developments
  • Cryptocurrency and Bitcoin emerging challenges

Robert G. Fox, Jennifer Riegel



9:15 What Accounting Challenges Are Mid-Cap and Smaller Companies Facing? 
  • Overview of the major standards coming into effect in 2018, 2019 and beyond
  • Costs of cloud computing arrangements
  • Hedge accounting simplifications
  • Debt versus equity developments
  • Financial instrument impairment and accounts receivable
  • Other FASB and EITF developments
  • Role of the auditor and OCA in new accounting pronouncements
  • What to do when you have a challenging accounting question?
    • Examples from real companies
    • When to pre-clear

Kathy Bugg, Robert G. Fox



10:15 Networking Break

10:30 Fine Tuning Revenue Recognition Accounting and Lessons Learned from SEC Reviews to Date
  • Common post-implementation issues and problems
  • Building disclosures that follow the principles in ASC 606
  • Disclosures about estimates and related issues
  • SEC comments to date – themes and watch areas

Bradford L. Hale, Gargi Ray



11:45 Networking Lunch

12:45 Tax Reform Accounting and Disclosure Issues 
  • Follow-through with disclosures from 2017
  • Impact of the rate changes
  • Completing estimates open at the transition date
  • MD&A disclosure considerations
  • What should be different in your tax footnote?
  • SEC comments– themes and watch areas

Matthew Derba, Neil Gerard



1:45 Tuning Up Your Management’s Discussion and Analysis
  • Brief overview of requirements
  • Common issues from the SEC in MD&A reviews
  • Example SEC comments – responses and changes to filings
  • When to make changes; when not to make changes
  • The fine line between SEC requirements and competitive damage
  • Issues that cause trouble with SEC enforcement and litigation

Gargi Ray, Andrew D. Thorpe,   



2:45 Networking Break

3:00 Key Implementation Issues for Accounting Changes Next Year
  • Planning and coordinating the various new standards
  • Resource requirements
  • Role of the auditor – how much advice to give about the new standards
  • Questions and Answers

Michael Stevenson  



4:00 A Deeper Dive into Lease Implementation Challenges 

•     Data gathering challenges
•     Overall implementation process review
•     Implementation pitfalls and unforeseen issues
•     Software tools – is Excel enough?
•     Strategies to finish the process successfully

William Andreoni

5:30 Adjourn

Cocktail Reception



Day Two: 8:00 a.m. - 4:15 p.m.

8:00 CorpFin Update and SEC Review Focus Areas 
  • Brief review of CorpFin structure and role
  • General comment areas
  • Examples of comments and responses
  • Capital formation
  • Expected rule-making and disclosure effectiveness developments
  • Revision to the smaller reporting company rules
  • Other expected Regulation S-K and S-X developments
  • How is XBRL being used

Cicely LaMothe, Mark Shannon



9:45 Networking Break

10:00 Auditing in the Mid-Cap and Smaller Company Environment

• Impact of the new auditor’s report
• Getting ready for critical audit matter reporting
• PCAOB focus areas in inspections
• Other PCAOB standard-setting developments

Jim Burton, Joseph Hartnett, Kathy Lockhart 

 



11:00 SEC Enforcement Environment for Mid-Cap and Smaller Companies

•     Example cases – where do problems start?
•     What to do when you hear from the SEC?
•     Managing the enforcement process
•     Issues and challenges in the litigation process

Lance Jasper, Susan Goetz Markel



12:00 Networking Lunch

1:00 Ethical Challenges for Mid-Cap and Smaller Companies 
  • Review of the AICPA and other codes of ethics
  • Professional ethics issues in SEC practice
  • SEC enforcement examples
  • Examples where company employees were faced with challenging decisions
  • When to “not do” what your boss says you “should do”
  • Using a conflict resolution process
  • When is it right to “blow the whistle”?

Carol A. Stacey, George M. Wilson



2:00 Bringing It All Together: SEC Reporting Roundtable 
  • Change in priorities at the SEC – preparing for the future
  • Roundtable discussion of important reporting issues for the next 10-K, 10-Q and proxy, including:
    • Where are companies most likely to have problems?
    • Where are the high restatement risk areas?
    • How to proactively avoid problems
    • The new auditor’s report – disclosure of critical audit matters
    • Disclosure of impact of FASB major projects
    • Continuing focus on ICFR
    • Focus on the audit committee
    • Disclosure effectiveness
    • A more efficient year-end close process
    • Preparing for new proxy disclosure
  • Accounting issues for cryptocurrencies and blockchain instruments

Phyllis Deiso, Paula Hamric, David J. Lavan, Matthew Schell



3:00 Networking Break

3:15 A Guide to Navigating the SEC Comment Letter Process
  • Introduction to the example company
  • Developing a strategy to respond to the first SEC comment letter
  • Review of the company’s first response
  • Review of additional comment and response letters and the ultimate resolution
  • Fix in future filings or amend?
  • The reconsideration process
  • Dos and don’ts in the comment process

Carol A. Stacey, George M. Wilson

4:15 Adjourn      



Co-Chair(s)
Bob Laux ~ Associate Director, SEC Institute, a Division of PLI
Carol A. Stacey, MSA, CPA ~ Director & Advisory Chair, SEC Institute, a Division of PLI
George M. Wilson, MBA, CPA ~ Director, SEC Institute, a Division of PLI
Speaker(s)
William Andreoni ~ Senior Director, Pine Hill Group, LLC
Kathie Bugg ~ Director, Professional Practice Group, Moss Adams LLP
Jim Burton ~ Partner in Charge, Audit Methodology and Standards, Grant Thornton LLP
Phyllis Deiso ~ Partner, National SEC Practice Leader, RSM US LLP
Matthew Derba ~ Director, CohnReznick LLP
Robert G. Fox ~ National Managing Partner – Professional Standards, Grant Thornton LLP
Neil Gerard ~ Tax Practice Leader – Roseland, CohnReznick
Bradford L. Hale ~ Managing Director & Shareholder, CBIZ & Mayer Hoffman McCann P.C.
Paula Hamric ~ National Assurance Partner, BDO USA, LLP
Joseph Hartnett ~ Interim President & CEO, Sparton Corporation
Lance Jasper ~ Senior Counsel, Division of Enforcement , U.S. Securities and Exchange Commission
Cicely LaMothe ~ Associate Director, Division of Corporation Finance, U.S. Securities and Exchange Commission
David J. Lavan ~ Partner, Dinsmore & Shohl LLP
Kathy Lockhart ~ Vice President & Controller, Noodles & Company
Susan Goetz Markel ~ Managing Director, Alix Partners LLP
Gargi Ray ~ Vice President Finance – Global Controller of Revenues , Infosys Limited
Jennifer G. Riegel ~ Special Counsel, Office of Small Business Policy, Division of Corporation Finance, US Securities and Exchange Commission
Matthew A. Schell ~ Partner, Assurance Professional Practice, Crowe LLP
Mark Shannon ~ Managing Director, Assurance Professional Practice, Crowe LLP
Michael Stevenson ~ Partner, National Practice Leader – ARAS , BDO USA, LLP
Andrew D. Thorpe ~ Orrick Herrington & Sutcliffe LLP
Program Attorney(s)
Robin D. Goldstein ~ Director & Sr. Program Attorney, PLI
Las Vegas Seminar Location and Hotel Accommodations

Caesars Palace 3570 S Las Vegas Blvd, Las Vegas, NV 89109, (702) 731-7110.  A block of rooms has been reserved for this program.  Please call reservations at 1-866-227-5944 and mention group code SCPL18.  You can also book online at SECI - SCPLI8  The cutoff date for the preferred rate is August 24, 2018.

General credit information about this format appears below. For credit information specific to this program, please choose your jurisdiction(s) in the Credit Information box on the right-hand side of this page.


U.S. MCLE States

Alabama:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Alaska:  All SEC Institute products can fulfill Alaska’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Arizona:  SEC Institute’s live seminars qualify as “interactive CLE” credit. There is no limit to the number of credits an attorney can earn via interactive CLE programs.

Arkansas:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

California:  SEC Institute’s live seminars qualify as “participatory” credit. There is no limit to the number of credits an attorney can earn via participatory programs.

Colorado:  All SEC Institute products can fulfill Colorado’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Connecticut: Effective January 1, 2017, all SEC Institute products can fulfill Connecticut’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Delaware:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Florida:  All SEC Institute products can fulfill Florida’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Georgia:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Hawaii:  All SEC Institute products can fulfill Hawaii’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Idaho:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Illinois:  All SEC Institute products can fulfill Illinois' CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Indiana:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Iowa:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Kansas:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live programs.

Kentucky:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Louisiana:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Maine:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Minnesota:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Mississippi:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Missouri:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Montana:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Nebraska:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Nevada:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

New Hampshire:  All SEC Institute products can fulfill New Hampshire’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

New Jersey:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

New Mexico:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

New York

Experienced Attorneys:  All SEC Institute products can fulfill New York’s CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Newly Admitted Attorneys:  SEC Institute’s transitional live seminars can be used to fulfill the requirements for newly admitted attorneys. All credit categories may be earned via transitional live seminars.

North Carolina:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

North Dakota:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Ohio:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Oklahoma:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Oregon:  All SEC Institute products can fulfill Oregon’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Pennsylvania: SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Puerto Rico:  All SEC Institute products can fulfill Puerto Rico’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Rhode Island:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

South Carolina:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Tennessee:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Texas:  All SEC Institute products can fulfill Texas’ CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Utah:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Vermont:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Virgin Islands:  All SEC Institute products can fulfill the Virgin Islands’ CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Virginia:  SEC Institute’s live seminars qualify as “live interactive” credit. There is no limit to the number of credits an attorney can earn via live interactive programs.

Washington:  All SEC Institute products can fulfill Washington’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

West Virginia:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Wisconsin:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.

Wyoming:  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of credits an attorney can earn via live seminars.


CPD Jurisdictions

British Columbia (CPD-BC):  SEC Institute’s live seminars qualify as “real-time” credit. There is no limit to the number of credits an attorney can earn via real-time programs.

Ontario (CPD-ON):  SEC Institute’s live seminars qualify as “interactive” credit. There is no limit to the number of credits an attorney can earn via interactive programs.

Quebec (CPD-QC): SEC Institute’s live seminars can fulfill Quebec’s CPD requirements.

Hong Kong (CPD-HK):  SEC Institute’s live seminars qualify as “live” credit. There is no limit to the number of points an attorney can earn via live seminars.

United Kingdom (CPD-UK):  SEC Institute’s live seminars can fulfill the United Kingdom’s CPD requirements.

Australia (CPD-AUS):  SEC Institute’s live seminars qualify as “live” credit in all Australian jurisdictions. There is no limit to the number of credits an attorney can earn via live seminars.

Alberta (CPD-ALBERTA):  All SEC Institute products can fulfill Alberta’s CPD requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

Dubai (CLPD-DUBAI):  SEC Institute’s live seminars may fulfill CLPD credit requirements.


Other Credit Types

CPE Credit (NASBA): SEC Institute’s live seminars qualify as the “Group-Live” delivery method. Please check the Credit Information box on the right-hand side of this page to verify CPE credit availability.

IRS Continuing Education (IRS-CE): SEC Institute’s live seminars may fulfill IRS-CE requirements. To request IRS-CE credit, please notify PLI at plicredits@pli.edu of your request and include your Preparer Tax Identification Number (PTIN).

Certified Fraud Examiner CPE:  SEC Institute’s live seminars may fulfill Certified Fraud Examiner CPE requirements. To request CPE credit or find out which programs offer CPE, please contact PLI at plicredits@pli.edu.

IAPP Continuing Privacy Credit (CPE):  SEC Institute’s live seminars may fulfill Privacy CPE credit requirements.

HR Recertification (HRCI):  SEC Institute’s live seminars may fulfill HR credit requirements.

SHRM Recertification (SHRM):  SEC Institute’s live seminars qualify as "instructor-led" credit. There is no limit to the number of credits an SHRM professional can earn via instructor-led programs.

Compliance Certification Board (CCB):  SEC Institute’s live seminars qualify as “live” training events. There is no limit to the number of credits a candidate or certification holder can earn via live seminars.

Certified Anti-Money Laundering Specialists (CAMS):  SEC Institute’s live seminars may fulfill CAMS credit requirements.

New York State Social Worker Continuing Education (SW CPE):  SEC Institute’s live seminars may fulfill SW CPE credit requirements.

American Bankers Association Professional Certification (ABA):  SEC Institute’s live seminars may fulfill ABA credit requirements.

Certified Financial Planners (CFP):  SEC Institute’s live seminars may fulfill CFP credit requirements.

 

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