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In Person: Accounting and Auditing Conference

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Thursday, May 13, 2021 @ 8:30am 4:30pm
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Description

This event will provide the crucial guidance you need to stay in compliance with the many A&A rules affecting your practice, business or clients. Visit the website at www.ms-cpa.org for a complete agenda.

Credits

Category Amount
Accounting&Auditing 8.00

Sessions

Thursday, May 13, 2021

8:30am - 12:00pm
$0.00

This update will provide a status update on soon to be effective FASB topics including the implementation of Topic 842 on leases. In addition to financial accounting standards, we will also discuss the new audit standards 134-140 that were pushed back a year that will be effective for your 2021 audits and what the ASB has exposed earlier this year with the proposed Quality Management Standards. Other topics covered will include SSARS 25 and we will also touch on what is going on with AICPA ethics.

Credits: Accounting&Auditing 4
12:30pm - 2:10pm
$0.00

This presentation focuses on audit, review, compilation and even preparation of financial statement risk management. The session offers lessons learned from CAMICO’s decades-long history defending CPAs from A&A claims, as well as potential jury implications, and provides important do’s and don’ts to protect CPAs and their clients. 

Topics highlighted will include:

•The pandemic’s implications on A&A engagements
•Claim stats: Where do A&A claims come from? What does the history tell us?
•Risk management Impications of select recent pronouncements including:
•SSARS No. 25 – Materiality in a Review of Financial Statements and Adverse Conclusions
•SSAE No. 19 – Agreed-Upon Procedures Engagements
•ASU 2020-05 – Revenue from Contract with Customers (Topic 606) and Leases (Topic 842) – Effective Dates for Certain Entities
•SAS No. 141 – Amendment to the Effective Dates of SAS Nos. 134–140
•SSFS No. 1 – Statement on Standards for Forensic Services No. 1
•The spectrum of auditing and accounting services highlighting the professional standards, the jury’s perspective on those services, and how to address the expectation gap
•How to minimize standards overload: self-knowledge, recognizing risk stress points, and client retention and acceptance
•Other risk management techniques to CYA (“cover your auditing/attest work”)

Credits: Accounting&Auditing 2
Leaders:
2:20pm - 4:00pm
$0.00

Numbers—and especially the digits within those numbers—can conceal a lot of information. Benford's Law is the key to unlocking that information. This session will explain what Benford's Law is, how it works, and how it can be used to reveal bogus information and made-up data. Accountants and auditors should understand how to use this valuable audit tool as well as other digital analysis techniques. But, if you attend this session, you must promise not to reveal the secret behind these techniques to any fraud perpetrators.

Credits: Accounting&Auditing 2

Course Materials

Links to the e-materials will be listed with your course registration in your account on the MSCPA website seven calendar days before the course. You will receive an e-mail when the materials are available.

The option to request printed materials is only available up to 5 business days prior to the course date. Walk-in registrants and those registering between 1 and 5 days before the course will be sent an electronic link to the e-materials by default. “Extra” printed course materials will not be available on site. Printed materials are not available for conferences.



Leaders

Michael L. Brand

Michael L. Brand

Michael L. Brand, CPA, CGMA was the chair of the ARSC from 2011 through 2015 during the time the SSARS 21 clarity project was going on. Mike now serves on the AICPA’s Professional Ethics Executive Committee. Mike is currently the A&A and Quality Control partner in the firm of Johnson, Feigley, Newton & Brand in Athens, AL. He received his B.S. in accounting from the University of North Alabama and has been in the practice of public accounting for over 25 years. During those years he has been involved in all aspects of public accounting, with an emphasis in providing accounting, audit, and review services to clients in for profit, not-for-profit, and governmental sectors. He also teaches continuing education classes across the country and has been awarded the Outstanding Discussion Leader multiple times and has spoken at several conferences nationwide and overseas. Additionally, he conducts peer reviews. He currently serves on the Board of Directors for the Alabama Society of CPA’s and is the former chair and current member of the Alabama Society of Certified Public Accountants Peer Review Committee and is on the planning committee for National Advanced Accounting and Auditing Symposium. Additionally, he was on the Peer Review Board, Joint Trial Board, and Quality Control Standards Task Force of the AICPA. Mike currently lives in Athens, AL with his wife and two sons. He is actively involved in the community and enjoys his time outside of the office with his wife and boys enjoying outdoor sporting activities, running and cooking.

David L. Cotton

David L. Cotton

Dave Cotton, CPA, CFE, CGFM is chairman of Cotton & Company LLP, Certified Public Accountants, headquartered in Alexandria, Virginia. Cotton & Company has performed grant and contract, indirect cost rate, financial statement, financial related, and performance audits for more than two dozen Federal inspectors general as well as numerous other Federal and State agencies and programs. Dave received a BS in mechanical engineering (1971) and an MBA in management science and labor relations (1972) from Lehigh University in Bethlehem, PA. He also pursued graduate studies in accounting and auditing at the University of Chicago Graduate School of Business (1977 to 1978). Dave served on the Advisory Council on Government Auditing Standards (the Council advises the United States Comptroller General on promulgation of Government Auditing Standards—GAO’s yellow book) from 2006 to 2009. He served on the Institute of Internal Auditors (IIA) Anti-Fraud Programs and Controls Task Force and co-authored Managing the Business Risk of Fraud: A Practical Guide. He served on the American Institute of CPAs Anti-Fraud Task Force and co-authored Management Override: The Achilles Heel of Fraud Prevention. Dave is the past-chair of the AICPA Federal Accounting and Auditing Subcommittee and has served on the AICPA Governmental Accounting and Auditing Committee and the Government Technical Standards Subcommittee of the AICPA Professional Ethics Executive Committee. Dave chaired the Fraud Risk Management Task Force, sponsored by COSO and ACFE and is a principal author of the COSO-ACFE Fraud Risk Management Guide. Dave has testified as an expert in governmental accounting, auditing, and fraud issues before the United States Court of Federal Claims and other administrative and judicial bodies. He has been an instructor for the George Washington University masters of accountancy program (Fraud Examination and Forensic Accounting), and has instructed for the George Mason University Small Business Development Center (Fundamentals of Accounting for Government Contracts). Dave was the recipient of the ACFE 2018 Certified Fraud Examiner of the Year Award (“presented to a CFE who has demonstrated outstanding achievement in the field of fraud examination … based on their contributions to the ACFE, to the profession, and to the community”).

Duncan Will

Duncan Will

Duncan B. Will, CPA/ABV/CFF, CFE, Loss Prevention Manager/Accounting & Auditing Specialist, leverages his more than 40 years of experience in accounting, including public accounting, forensic accounting, consulting, and audit and tax compliance, to deliver to policyholders the high-touch, high-quality CAMICO experience. He works closely with the Loss Prevention Specialists to manage the department’s efforts to deliver policyholder service. Will’s specialties are accounting and auditing and business valuation-related risk management. He advises policyholders through the CAMICO Loss Prevention Hotline, speaks to CPA groups, and writes articles on a wide range of accounting risk management and ethics topics. Topics of particular interest include complying with the AICPA’s Statements on Standards for Accounting and Review Services, doubts about an entity’s ability to continue as a going concern, cyber-security, and serving clients in the cannabis industry. Will began his accounting career in 1979 as a staff accountant in the Washington, D.C. area and spent most of his public accounting career in California and Florida. He earned a Bachelor of Science in accounting from the University of Maryland and is Accredited in Business Valuation and Certified in Financial Forensics. A Certified Fraud Examiner, Will is an active member of the Association of Certified Fraud Examiners; has supplemented his education with college courses at the University of Baltimore, Golden Gate University, and Florida Atlantic University; and welcomes opportunities to expand his knowledge over a broad spectrum of accounting-related curricula.