transcript   Transcript

Accounting and Auditing Developments

Recorded on: Nov. 12, 2018
Running Time: 01:00:07

Full Transcript:



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Taken from the Web Program 50th Annual Institute on Securities Regulation Recorded November 2018 in New York

Accounting and Auditing Developments [01:00:07]
  • FASB developments, including implementing the revenue standard and preparing for leases
  • SEC developments, including tax disclosures, the latest on non-GAAP financial measures and waivers
  • PCAOB developments, including preparing for the new auditor reporting model and the agenda for the new board
  • The new accounting standard on impairments and what lawyers need to know
(CPE Field of Study: Accounting)

Moderator: John W. White

Panelists: Wesley R. Bricker, Christine Q. Davine, Kyle Moffatt, Sharon Virag

The purchase price of this Web Program segment includes the following article from the Course Handbook available online:
  • Deloitte, Heads Up, ASC 606 Is Here—How Do Your Revenue Disclosures Stack Up? Volume 25, Issue 9 (July 11, 2018)
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  • Deloitte, A Roadmap to Applying the New Revenue Recognition Standard (September 2017)
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  • Audit Analytics, Are Companies Really Seeing Revenue Growth, or Is It an Accounting Adjustment?
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  • Audit Analytics, Accounting Quality Insights: Impact of New Revenue Recognition Rule Adoption for Russell 3000 Companies
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  • Financial Acounting Standards Board, FASB in Focus: Accounting Standard Update No. 2016-02, Leases (Topic 842) (February 25, 2016)
    John W. White
  • Financial Acounting Standards Board, Financial Accounting Series, Accounting Standards Update: Leases (Topic 842)—Targeted Improvements, No. 2018-11, July 2018
    John W. White
  • Stephen McKinney and Tim Kolber, Deloitte, An Executive Summary of the FASB’s New Lease Accounting Standard (May 16, 2016)
    John W. White
  • Deloitte, Heads Up, Bring It On! FASB’s New Standard Brings Most Leases Onto the Balance Sheet, Volume 23, Issue 5 (March 1, 2016, Updated July 12, 2016)
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  • Deloitte, Heads Up, Frequently Asked Questions About the FASB’s New Leases Standard, Volume 24, Issue 12 (April 25, 2017)
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  • Sagar Teotia, Deputy Chief Accountant, U.S. Securities and Exchange Commission, Speech, Progress Is Being Made: Continued Focus on Addressing Implementation Matters, Remarks Before the 37th Annual SEC and Financial Reporting Institute Conference (June 7, 2018)
    John W. White
  • Wesley R. Bricker, Chief Accountant, U.S. Securities and Exchange Commission, Speech, Remarks Before the 2018 Baruch College Financial Reporting Conference: “Working Together to Advance Financial Reporting” (May 3, 2018)
    John W. White
  • Wesley R. Bricker, Chief Accountant, Office of the Chief Accountant, U.S. Securities and Exchange Commission, Speech, Statement in Connection with the 2017 AICPA Conference on Current SEC and PCAOB Developments (December 4, 2017)
    John W. White
  • U.S. Securities and Exchange Commission, SEC Compliance & Disclosure Interpretations, Non-GAAP Financial Measures (Last Update: April 4, 2018)
    John W. White
  • Deloitte, A Roadmap to Non-GAAP Financial Measures (November 2017)
    John W. White
  • Deloitte, SEC Comment Letters—Including Industry Insights (November 2017)
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  • Deloitte, Thinking Allowed: Non-GAAP and Alternative Performance Measures (February 2017)
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  • Joey Bonaldi, Audit Analytics, SEC Comment Letters: A Seven Year Trend (July 13, 2018)
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  • Don Whalen, Olga Usvyatsky and Derryck Coleman, Audit Analytics, Corporate Implementation of SEC’s Compliance & Disclosure Interpretations Regarding Non-GAAP Financial Measures (December 2017)
    John W. White
  • Michael P. Dusza, Professional Accounting Fellow, Office of the Chief Accountant, U.S. Securities and Exchange Commission, Speech, Remarks Before the 2017 AICPA Conference on Current SEC and PCAOB Developments (December 4, 2017)
    John W. White
  • U.S. Securities and Exchange Commission, Staff Accounting Bulletin No. 118, 17 CFR Part 211, Release No. SAB 118 (Modified February 27, 2018)
    John W. White
  • Deloitte, Financial Reporting Alert 18-1, Frequently Asked Questions About Tax Reform (January 3, 2018, Last Updated March 20, 2018)
    John W. White
  • William Hinman, Director, Division of Corporation Finance, U.S. Securities and Exchange Commission, Speech, Keynote Address at the PLI’s Seventeenth Annual Institute on Securities Regulation in Europe
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  • Deloitte, Heads Up, ‘Twas the Night Before Adoption: Highlights of the 2017 AICPA Conference on Current SEC and PCAOB Developments, Volume 24, Issue 30 (December 10, 2017)
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  • Public Company Accounting Oversight Board, Staff Guidance, Changes to the Auditor’s Report Effective for Audits of Fiscal Years Ending on or After December 15, 2017 (December 4, 2017)
    John W. White
  • Public Company Accounting Oversight Board, PCAOB Adopts New Standard to Enhance the Relevance and Usefulness of the Auditor’s Report with Additional Information for Investors (June 1, 2017)
    John W. White
  • Public Company Accounting Oversight Board, Fact Sheet: Adoption of an Auditing Standard on the Auditor’s Report (June 1, 2017)
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  • Megan Zietsman, et al., Deloitte, Heads Up, PCAOB Adopts Changes to the Auditor’s Report, Volume 24, Issue 16 (June 20, 2017)
    John W. White
  • Chairman Jay Clayton, U.S. Securities and Exchange Commission, Public Statement, Statement on SEC Approval of the PCAOB’s New Auditor’s Reporting Standard (October 23, 2017)
    John W. White
  • Wesley R. Bricker, Chief Accountant, Office of the Chief Accountant, U.S. Securities and Exchange Commission, Speech, Statement in Connection with the 2017 AICPA Conference on Current SEC and PCAOB Developments (December 4, 2017)
    John W. White
  • Center for Audit Quality, CAQ Alert No. 2017-06, The Auditor’s Report—New Requirements for 2017 (October 2017)
    John W. White
  • Center for Audit Quality, Critical Audit Matters, Key Concepts and FAQs for Audit Committees, Investors, and Other Users of Financial Statements (July 2018)
    John W. White
  • William D. Duhnke, Chairman, PCAOB, Speech, PCAOB Transitions for the Future (May 17, 2018)
    John W. White
  • Press Release No. 2017-230, SEC Appoints New Chairman and Board Members to PCAOB (December 12, 2017)
    John W. White
  • Public Company Accounting Oversight Board, Standard-Setting Update—Office of the Chief Auditor (June 30, 2018)
    John W. White
  • Public Company Accounting Oversight Board, PCAOB Seeks Input into Its 2018–2022 Strategic Planning Through a Public Survey (April 17, 2018)
    John W. White
  • Public Company Accounting Oversight Board, PCAOB Draft Strategic Plan 2018–2022 (August 10, 2018)
    John W. White
  • Deloitte, Heads Up, FASB Eliminates Step 2 From the Goodwill Impairment Test, Volume 24, Issue 5 (February 1, 2017)
    John W. White
  • Financial Acounting Standards Board, Financial Accounting Series, Accounting Standards Update: Intangibles—Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment, No. 2017-04 (January 2017)
    John W. White
  • U.S. Securities and Exchange Commission, Division of Corporation Finance, Financial Reporting Manual, Section 9510—Goodwill Impairment
    John W. White
Presentation Material
  • Accounting and Auditing Developments
    Wesley R. Bricker, Christine Q. Davine, Kyle L. Moffatt, Sharon Virag, John W. White
  • (s)
    Wesley R. Bricker ~ Chief Accountant, Office of the Chief Accountant, U.S. Securities and Exchange Commission
    Christine Q. Davine ~ Deputy Managing Partner – Quality & Professional Practice, Deloitte LLP
    Kyle L. Moffatt ~ Chief Accountant, Division of Corporation Finance, U.S. Securities and Exchange Commission
    Sharon Virag ~ Chief Financial Officer, NeoGenomics Laboratories
    John W. White ~ Cravath, Swaine & Moore LLP
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