Advanced Accounting and Auditing Technical … Advanced Accounting and Auditing Technical Symposium Celebrating 25 Years July 19-20, 2012 Swissotel Chicago ... Advanced IT Considerations

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National Advanced Accounting and Auditing Technical SymposiumCelebrating 25 Years

July 19-20, 2012 Swissotel Chicago Chicago, IL

Pre-Conference Value-Added WorkshopsWednesday, July 18th

Save

75 by 6/4/12

Early Bird Registration

$

Also Available

SelectVirtual

Sessions PCPS/IT Section and CITP Credential holders Save an addiTional $100

Don’t Miss Keynote speaker:

barry MelanconPresident & CEO, AICPA

This premier event explores the latest accounting and

auditing issues, regulations and standards, and provides solid

implementation guidance.

Register by 6/4/12 SAVE $75!2

Advanced IT Considerations in Conducting Audit and Attest Services.

As technology advances – from hardware and

ERP systems to virtualization, and software as

a service (SaaS) and the cloud – ensuring the

integrity and security of financial information

is becoming more complex. Auditors need to

ensure that IT-related risks are appropriately

considered. This track will cover everything from

advanced methodologies for conducting IT

risk assessments to dealing with management

letter comments related to IT. look for sessions

numbered “it” throughout the agenda.

2012’s aiCpa national Advanced accounting and auditing technical symposium distills the many technical accounting and auditing issues facing accounting and auditing professionals today. You will get a thorough understanding of complex new rules and standards, along with practical guidance on how to implement them. In two intensive days, you’ll learn, discuss and absorb the critical training to stay ahead of the curve and maintain a competitive edge.

A cross-section of hot topics will be addressed at this conference, including the Clarity Project, succession planning, sustainability reporting, auditing in an electronic environment, and using CAATs for fraud detection.

Take advantage of this unparalleled conference opportunity – there’s no better forum for getting the guidance you need to be successful in today’s dynamic accounting and auditing environment.

Who Should AttendCPAs in audit practices as well as finance and accounting professionals, who focus on privately held companies of all sizes.

Benefit from In-Depth Case Study SessionsTwo in-depth case studies –

fasb Current implementation

projects and accounting & auditing

in fair Value – will help you focus

on the specific issues – to better

understand how to effectively

tackle implementation.

Maximize Your learning at our Pre-Conference Workshops!101 reporting on service organization Controls – soC 1, 2, & 3 reports

102 accounting & auditing issues in a Volatile business environment

Get advanced-level technical guidance on today’s increasingly

complex accounting and auditing issues.

Chicago Experience international style and distinctive Swiss service at Swissotel Chicago, the award-winning hotel, which sets the standard for downtown Chicago accommodations. Discover the city’s famous sites, browse The Magnificent Mile for landmark shopping, or enjoy The Art Institute, Shedd Aquarium or The Field Museum – all just minutes away.


PRE-CoNfERENCE WEdNESdAY, JulY 18 / VAluE AddEd hAlf-dAY WoRkShoPS (additional fee)

7:00 am - 5:00 pm registration open8:00 am - 12:00 pm 101 Reporting on Service organization Controls – SoC 1, 2, & 3 Reports aU

Joe Griffin, CISA, Partner, PricewaterhouseCoopers, LLP, Atlanta, GASuzanne Nersessian, CPA, Director, Deloitte & Touche LLP, Boston, MADave Palmer, CPA, CISA, Managing Director, KPMG LLP, Chicago, ILThis workshop will provide an in-depth exploration of the AICPA’s options for reporting on a service organization’s controls (SOC). Improve your understanding of:• SOC 1, SOC 2 and SOC 3 reporting frameworks and which to select

for a particular engagement • The differences between SAS 70 and a SOC 1 report • Planning, performing, and reporting on SOC 1 and SOC 2 engagements • The unique advantages of SOC 3 reports for marketing a service

organization’s services 1:00 pm - 5:00 pm 102 accounting & auditing issues in a volatile Business environment a, aU

Jeremy Dillard, CPA, Partner, Rivera, Jamjian & Dillard, LLP, Los Angeles, CAStephen McEachern, CPA, CFF, Managing Shareholder, Fitts, Roberts & Co. P.C., Houston, TXNancy Reimer, J.D., Shareholder, LeClair Ryan, P.C., Boston, MALearn about current accounting and auditing issues that frequently result in litigation in today’s business environment and how to avoid these pitfalls.Topics for the workshop include: • Going concern • Goodwill impairment • Debt restructuring • Bankruptcy & related disclosure issues• Legal issues associated with practicing in a down economy

MAIN CoNfERENCE / ThuRSdAY, JulY 19 / dAY oNE

7:00 am - 6:00 pm registration open7:00 am - 8:00 am Continental breakfast8:00 am - 8:10 am Welcome & introductions8:10 am - 9:10 am general session 1 aSB Update: Making the Clarity Project Changes Clear aU

Ed Jolicoeur, CPA, CFE, Partner, LarsonAllen LLP, Spokane, WALearn critical information about the Clarity Project directly from a member of the Auditing Standards Board. This session will include an overview of new and proposed auditing standards, and an in-depth presentation on the changes resulting from the issuance of SAS Nos. 122-125, along with examples and practical applications for the audits you perform.

9:10 am - 9:40 am refreshment break & Vendor Display

a-aCCounting au-auDiting bMo-business ManageMent & organizationre-regulatory ethiCs sKa-speCializeD KnoWleDge anD appliCations

FIELDS OF STUDY

Virtual session* available to be streamed live via the Web direct to your office for those not attending the live conference. *Selected sessions are subject to change.

IcOn KEY

**Auditors must use professional judgment when determining and documenting whether these sessions qualify for Yellow Book CPE in accordance with the Government Accountability Office, Government Auditing Standards, July 2007 Revision and Guidance on GAGAS Requirements for Continuing Professional Education, GAO-05-568.

yellow book session**

Topics and speakers are subject to change

For those who cannot attend the conference, selected sessions will be available to be streamed live via the web direct to your office. See pricing details and registration information on back panel.

Virtual sessions available!


Conference Agenda9:40 am - 10:55 am Concurrent sessions 2 aiCPa Technical Hotline FaQs a, aU

Kristy Illuzzi, CPA, Technical Manager, Accounting & Auditing Technical Hotline,

AICPA, Durham, NCThe AICPA’s Accounting and Auditing Technical Hotline provides members with free, high-quality technical assistance by phone about issues related to accounting and financial reporting, auditing and attestation, compilation, and review standards. An overview of some of the frequently asked questions that have come up in the past year will be presented.

3 Broker/dealer audit Update aUPaul Nockels, CPA, Director, McGladrey & Pullen, LLP, Chicago, ILThis session will provide an update on evolving rules and standards governing the audits of financial statements of broker-dealers, including:• Changes to Rule 17a-5 of the SEC • Practice challenges and solutions• Application of standards issued by the PCAOB

4 employee Benefit Plans audit Guide overhaul aUMarilee Lau, CPA, Kentfield, CAThis session will cover the new Employee Benefit Plans Audit and Accounting Guide to be issued in October 2012. It will provide participants with insight on what to expect once the new Guide is issued. Topics will include:• General overview of the process and format of the Guide• Accounting and auditing changes• Changes addressed as a result of the comments received on the accounting draft• Discussions with FinREC and the Auditing Standards Board

5 electronic data evidence (repeated in #13) aU

Eric Cohen, CPA, XBRL Global Technical Leader, PricewaterhouseCoopers, LLP, Rochester, NYIn a recent survey conducted by the Auditing Standards Board, the second greatest source of emerging audit or attestation risk identified by respondents was related to auditing in an electronic environment, where all the entity’s transactions are electronic and there is no paper trail. The challenges related to the vanishing traditional audit trail, and the approaches being considered by the global audit profession, the academic community and regulators to cope with and benefit from the challenges will be discussed. In this session, you will learn: • Conditions and challenges presented by the vanishing paper trail • Comparisons and contrasts between the traditional and electronic audit trails • Emerging tools for reestablishing the seamless audit trail, including standard

audit file formats, such as XBRL, standardized business rules and digital authentication technologies

• How auditors can compensate for complexity and sophistication, and move to new, more efficient, capabilities

iT1 iT General Controls – overview aUSteve Ursillo, CPA.CITP, CIA, CFE, CISA, CISM, CISSP, CGEIT, CRISC, Principal, Director of Technology & Assurance Services, Sparrow, Johnson & Ursillo, Inc., West Warwick, RIIT general controls (ITGC) have become the object of not only IT audits but financial audits, service organization control (SOC) reporting, and other assurance services. ITGC is one of the IT-related areas that the AICPA’s Information Technology Executive Committee (ITEC) states should be considered in all financial audits. This session will explain what ITGC are, how they relate to the risk of material misstatement (RMM), and how to effectively assess them in terms of risk and tests of controls. Topics will include:• What are ITGC and application controls?• What’s involved in scoping an ITGC audit?• When a subject-matter expert (SME) is needed• How IT financial controls (ITFC) and ITGC relate to internal controls over

financial reporting (ICFR) and other reporting criteria. (e.g., security, availability, privacy, etc.)

• How to design effective audit steps by matching ITGC control objectives with specific tests of controls

Select One Concurrent Session


9:40 am - 10:55 am SP1 Making the Case for Centralizing audit Confirmation Procedures aU

Brian Fox, CPA, Founder, Confirmation.com, Brentwood, TNPeter Henley, CPA, CIO, Clark Nuber P.S., Bellevue, WABuilding efficiency into every audit can create savings for CPA firms, yet staff auditors still spend time chasing paper and doing tasks that should either be automated or done by someone other than an auditor. During this interactive session, learn how Clark Nuber tackled the inefficiencies of their audit confirmation requests by centralizing the process – a process that required no cost to implement and brought positive improvements to their audit practice. This session will also provide best practices and tips to help make audit procedures more efficient.

11:05 am - 12:20 pm Concurrent sessions 6 FaSB Current implementation Projects a

John Fleming, CPA, MBA, President, Loscalzo Associates, Shrewsbury, NJAn update of current FASB-only implementation projects, including: • Presentation of comprehensive income • Goodwill impairment testing • Impairment of indefinite-lived intangible assets • Disclosures of multi-employer pension plans • Accounting for investment property entities • Consolidation: principal vs. agent analysis

for deeper-dive case studies on fASb Current Implementation Projects,consider attending session 10.

7 accounting & auditing issues in Fair value overview a, aUTom Groskopf, CPA, CVA, MBA, Director (Owner), Barnes Dennig, Cincinnati, OHMark Zyla, CPA/ABV, CFA, ASA, Managing Director, Acuitas, Inc., Atlanta, GAFair value measurements continue to bring changes to financial reporting. Best practices in both the accounting and valuation professions are still evolving. This session will discuss new accounting and auditing standards that require fair value measurements. Topics include:• Application of fair value under ASC 805, Business Combinations• AU-C 540 section, Auditing Accounting Estimates, Including Fair Value

Accounting Estimates, and Related Disclosures • Fair value of contingent consideration and other contingencies• Qualitative assessments under ASU 2011-08 testing goodwill for impairment• Changes in disclosures of fair value measurements under ASU 2011-04,

Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs

for deeper-dive case studies on fair Value, consider attending session 12.

8 aRSC Update aMike Brand, CPA, Audit, Attest and Quality Control Partner, Johnson, Feigley, Newton & Brand, LLP, Athens, ALAn update of what is going on with AICPA’s Accounting and Review Services Committee: • Current projects of the ARSC • Future projects of the ARSC• How SSARS 19 implementation is going

9 ethics Update Re

James Brackens Jr., CPA, CGMA, Vice President, Firm Quality and Practice

Monitoring, AICPA, Durham, NC This session will provide a broad update on ethics. Summaries of new ethics requirements will be presented along with an overview of pending changes. Also covered will be information on the results of investigations of the enforcement division. Some questions to be answered include:• What’s new in the independence arena for nonattest services?• Which entities related to my financial statement attest clients do

I need to be independent of?• What records must be returned to clients and former clients?• What is the Ethics Codification Project and how will it impact me?


Select One Concurrent Session (continued)


Conference Agenda11:05 am - 12:20 pm iT2 Top Management letter Comments Resulting from iT audit involvement (repeated in #IT5) aU

Joel Lanz, CPA.CITP, CFF, CISA, CISM, CISSP, Principal & Founder, Joel Lanz, CPA, P.C., Old Westbury, NYTo give added value to audit clients as well as comply with standards, auditors provide management comments to enable their clients to improve internal controls and operational efficiency. This session will explore some of the most frequent comments resulting from IT audit involvement. In addition to the comments, it will discuss how the financial auditor can determine if the comment is applicable to the client’s environment and typical solutions that can be recommended.

iT3 Cyber Fraud & eFT SKaSteve Ursillo, CPA.CITP, CIA, CFE, CISA, CISM, CISSP, CGEIT, CRISC,Principal, Director of Technology & Assurance Services, Sparrow, Johnson &Ursillo, Inc., West Warwick, RIBusinesses of all sizes are increasingly experiencing cyber security-related thefts. This session will provide examples of these thefts, and insights as to how cyber criminals are committing ACH/EFT fraud and breaching personal and confidential data. It will also provide practical guidance for businesses to mitigate the risks of cyber thefts.

12:20 pm - 1:05 pm lunch 1:05 pm - 1:55 pm l1 Keynote Presentation

Barry Melancon, CPA, CGMA, President & CEO, AICPA, New York, NYAn overview of the key issues ahead for the CPA profession, including legislative, regulatory and professional.

2:05 pm - 3:45 pm Concurrent sessions 10 FaSB Current implementation Projects – Case Study & discussion a

John Fleming, CPA, MBA, President, Loscalzo Associates, Shrewsbury, NJUsing case studies, this application session will review the implementation of the new FASB standards, including:• Presentation of comprehensive income • Goodwill impairment testing • Impairment of indefinite-lived intangible assets • Disclosures of multi-employer pension plans• Accounting for investment property entities • Consolidation: principal vs. agent analysis

11 Pathway to audit efficiency & effectiveness aUChuck Manganiello, CPA, Managing Member, AuditSense, Tampa, FLCarolyn McNerney, CPA, Equity Director, SS&G, Inc., Akron, OHAndrew Prather, CPA, Shareholder, Clark Nuber P.S., Bellevue, WAThis hands-on session will lay the groundwork to increase the efficiency at your firm as well as enhance the effectiveness of audit, review and compilation engagements. It will feature specific practices which have been successful in other firms in the areas of:• Risk assessment & response• Documentation• Engagement management & control

12 accounting & auditing in Fair value: Case Study & discussion a, aU

Tom Groskopf, CPA, CVA, MBA, Director (Owner), Barnes Dennig, Cincinnati, OHMark Zyla, CPA/ABV, CFA, ASA, Managing Director, Acuitas, Inc., Atlanta, GAThis session will provide a more practical application of the topics discussed in Session 7. The practical application will use a brief case study to allow participants to interactively discuss the methodologies and assumptions used in applying fair value measurements in a business combination, and subsequent testing of goodwill for impairment. The case study will present issues from a valuation specialist’s and an auditor’s viewpoint.




2:05 pm - 3:45 pm iT4 Forensic and Fraud detection Utilizing CaaTs aUMark Mayberry, CPA.CITP, CISA, Director, BDO USA, LLP, New York, NYLearn valuable computer assisted auditing techniques (CAATs) to take back to your firm. These techniques include analysis of high-risk audit areas such as those associated with fraud risks. Topics cover:• Discussion of techniques and tools• Practical application of techniques in common risk areas• Focused analyses and findingsUsing actual CAAT applications, the presenter will demonstrate powerful techniques that can reduce reliance on sampling, greatly increasing audit effectiveness and efficiency while minimizing audit risk.

3:45 pm - 4:15 pm refreshment break & Vendor Display4:15 pm - 5:30 pm Concurrent sessions 13 electronic data evidence (repeat of #5) aU

Eric Cohen, CPA, XBRL Global Technical Leader, PricewaterhouseCoopers, LLP,

Rochester, NY

14 Risk assessment Standards for Smaller entities aU

Phil Santarelli, CPA, MBA, Chief Risk Officer, ParenteBeard LLC, Philadelphia, PAThis session will explore the opportunities presented in the Clarified Auditing Standards to execute more efficient engagements for smaller, less complex entities, and will cover:• Resources in the clarified standards• How the revised Risk Assessment Audit Guide helps• Practical approaches for internal control assessments• Efficiency tips

15 Health Care entities Update SKaMartha Garner, CPA, PricewaterhouseCoopers, LLP, Florham Park, NJThis session is a hot topics update on technical issues that are being or have been addressed by the AICPA’s Health Care Expert Panel. It includes FASB and GASB developments, recently issued AICPA Q&A guidance, and auditor’s association with municipal bonds issued on behalf of health care entities.

16 Financial instruments Hot Topics aKristin Orrell, CPA, Director, PricewaterhouseCoopers, LLP, New York, NYAaron Pocklington, CPA, CFA, Manager, PricewaterhouseCoopers, LLP, New York, NYThis session will discuss current hot topics related to derivatives and hedge accounting, including interest rate and foreign currency hedging, and latest developments from the FASB and IASB.

iT5 Top Management letter Comments Resulting from iT audit involvement (repeat of #IT2) aU

Joel Lanz, CPA.CITP, CFF, CISA, CISM, CISSP, Principal & Founder, Joel Lanz, CPA, P.C., Old Westbury, NY

5:30 pm - 6:30 pm Welcome reception

MAIN CoNfERENCE / fRIdAY, JulY 20 / dAY TWo

7:00 am - 4:30 pm registration open6:30 am - 8:15 am Continental breakfast7:00 am - 8:15 am early riser sessions 201 Quality Control Roundtable discussion BMo

Pat Piteo, CPA, Partner, Cohen & Company, Ltd., Akron, OH This interactive session, for those involved with quality control at their firms, will discuss challenges and best practices regarding implementing SQCS No. 8, improving and maintaining quality control, and addressing specific issues regarding independence, training, EQCR, consultation, etc.

202 adding value to the audit Process: Roundtable discussion aU

Felicia Malter, CPA, Partner, RubinBrown LLP, St. Louis, MOChuck Manganiello, CPA, Managing Member, AuditSense, Tampa, FLThe ability to add value to your audit and review engagements strengthens client relationships and differentiates your firm when it comes to winning new engagements. This interactive discussion will allow you to share what has worked for your firm and learn what has worked for others in the area of adding value to the audit process.





Conference Agenda7:00 am - 8:15 am 203 accounting Research in the Codification aU

Rodney Rice, CPA, Partner, RubinBrown LLP, Denver, COThis session will provide for a group discussion on practice level experience and best practices working with the Accounting Standards Codification. It will also address the various access points to the Codification including FASB and third party resources. This session assumes a level of knowledge of Codification; it will not include material or training on the Codification itself.

204 virtual Team Success BMoK. Glenn Aldridge, CPA, Managing Partner, K. Glenn Aldridge, PC, Lawrenceville, GAWorking in virtual teams is an ever-growing component of CPA firms of all sizes and, according to recent research, can increase productivity by 16%. Virtual teams present unique challenges that can be beneficial, but also counterproductive unless managed effectively. Join this interactive session to hear how seasoned professionals have dealt with the challenges and barriers of virtual collaboration through effective training, organizational structuring and people development solutions. This session will also share best practices for ensuring performance excellence.

8:25 am - 8:55 am general session 17 FaSB Priorities a

Leslie Seidman, CPA, Chairman, FASB, Norwalk, CTThis session will discuss the FASB’s priorities, including private company reporting and international convergence.

8:55 am - 9:25 am general session 18 accounting developments a

Susan Cosper, Technical Director, FASB, Norwalk, CTThis session will describe the Board’s progress on projects, including revenue recognition, leasing and financial instruments, as well as FASB projects on disclosure framework, nonprofit reporting and fair value disclosures.

9:25 am - 9:55 am general session 19 iaSB Update a

Alan Teixeira, Ph.D., FCA, Senior Director - Technical Activities, IASB, London, EnglandThis session will discuss the IASB’s current work plan, including new projects being considered by the IASB.

9:55 am - 10:55 am general session 20 What You need to Know about Sustainability Reporting and auditing aU

Bob Bunting, CPA, Partner, Moss Adams LLP, Seattle, WAThis session will cover these key topics:• Why sustainability and sustainable business models are growing• The growth of sustainability reporting• How supply chain reporting is driving activity in the private company

and small business sector• The role of audits and other assurance models• AICPA activity to position the CPAs as the auditor of choice

10:55 am - 11:30 am refreshment break & Vendor Display11:30 am - 12:45 pm Concurrent sessions

21 Group audit Standard aU

Phil Santarelli, CPA, MBA, Chief Risk Officer, ParenteBeard LLC, Philadelphia, PAThe clarified standard, Special Considerations – Audits of Group Financial Statements (including the Work of Component Auditors), which supersedes AU section 543, represents one of the most significant changes in practice for the auditor. The new standard will require a deeper level of involvement with component auditors as well as significantly more documentation when practitioners are involved with large group audits. This session will provide an overview of the clarified AU-C section 600, including:• The significant changes and the challenges presented• Ideas on how to address the challenges• A discussion of new terminology such as groups, components, component

materiality, etc.• Documentation issues




11:30 am - 12:45 pm

22 not-for-Profit a&a Update a, aU

Allen Fetterman, CPA, MBA, New City, NYAccounting and auditing standards keep evolving. Not-for-profit entities and their auditors need to keep up-to-date with the new standards. Learn about new and proposed standards, and how they will impact not-for-profit entities and their auditors, including:• Fair value • Going concern • Leases • Compilation and review standards• Reporting on supplementary information • Yellow Book and Circular A-133 audits

23 Private Company Financial Reporting aSpeaker to be AnnouncedA thorough understanding of the major changes in the way accounting and financial reporting standards are set for private companies is crucial to anyone working at or serving private companies. Learn about the Financial Accounting Foundation’s final plans for modifying private company GAAP and the key details behind the FAF’s decisions. The issues and events that fired up the demand for changes to private company accounting will also be addressed in this session. In addition, the FAF’s plans will be reviewed and considered with a focus on the future of private company financial reporting.

24 Succession Planning BMoJennifer Wilson, Co-Founder & Partner, ConvergenceCoaching, LLC, Bellevue, NEWhether you’re nearing retirement age or working in a firm where other key leaders are, the issue of succession planning is probably weighing on your mind. Worse yet, the topic may feel overwhelming to address. But putting off succession discussions and planning may create unnecessary instability when transitions are required. This session will discuss the steps to make succession an ongoing part of your management practices, and address:• Successor preparation, identification and selection• Transition planning to help those retiring, including a majority owner

and/or founder, hand off clients, referral sources, key staff relationships, and administration over time

• Emergency transition when someone exits unexpectedly• Communications strategies and action plans to help all stakeholders

make the transition successfullyLeave this session with clarity about where to start in your firm, and practical ideas you can implement immediately!

iT6 How to integrate iT audit into Your Financial audit aUJoel Lanz, CPA.CITP, CFF, CISA, CISM, CISSP, Principal & Founder, Joel Lanz, CPA, P.C., Old Westbury, NYGiven evolving standards and increasing technology complexity, the audit engagement decision has changed from should we perform IT audit procedures to how do we integrate IT audit procedures into the financial audit engagement. Firms of all sizes face the challenge of how technology needs to be assessed, and how to translate technology risk into the audit decision. This session will deliver practical strategies to leverage existing audit resources to satisfy the standards. Key information technology risks to be aware of include:• Typical high risk information technology considerations for the audit• Leveraging information technology controls to reduce detailed testing• Challenges facing the financial auditor• Situations requiring technology expertise and working with the specialist• Common management recommendations

12:45 pm - 1:30 pm lunch


*be sure to supply a valid email address when registering. Instructions to access the speaker materials and website are distributed via email approximately two weeks prior to the start of the conference. Also, add [email protected] to your safe sender list.

all conference presentation materials will be posted to aiCpaConferenceMaterials.com Attendees will have access to download materials in advance of the conference and after the conference concludes.


Conference Agenda1:30 pm - 2:45 pm general session l2 Stump the Chumps a, aU

Moderator: Brian Kreischer, CPA, Partner, Frank, Rimerman + Co., LLP, San Francisco, CAPanel: James Brackens Jr., CPA, CGMA, Vice President, Firm Quality and Practice Monitoring, AICPA, Durham, NC Mark Brand, CPA, Audit, Attest and Quality Control Partner, Johnson, Feigley, Newton & Brand, LLP, Athens, ALSusan Cosper, Technical Director, FASB, Norwalk, CT Ed Jolicoeur, CPA, CFE, Partner, LarsonAllen LLP, Spokane, WAAlan Teixeira, Ph.D., FCA, Senior Director-Technical Activities, IASB, London, EnglandDon’t miss this opportunity to get answers to technical issues of interest to you. Standard setters will address auditing standards, compilation and review services, ethics standards, and financial accounting standards, including private company and small business issues. Bring your questions because you write the script.

2:50 pm - 4:30 pm Concurrent sessions 25 Revenue Recognition & accounting for leases a

Brian Kreischer, CPA, Partner, Frank, Rimerman + Co., LLP, San Francisco, CAPat Piteo, CPA, Partner, Cohen & Company, Ltd., Akron, OH The joint FASB/IASB projects on revenue recognition and leases are two pending pronouncements with far reaching applicability. Nearly every company will be impacted by these significant changes. This session covers:Revenue Recognition:• Understand the general provisions of the latest exposure draft

(or possibly the final guidance, if issued)• Anticipated impacts on common industries and revenue arrangementsLeases:• Review the provisions of the latest exposure draft• Helping clients and lenders anticipate and understand the

financial statement consequences 26 accounting for international operations a

Adam Grinde, CPA, CMAA, Partner, Baker Tilly, Chicago, ILMike McKee, CPA, Partner, Baker Tilly, Minneapolis, MNThis session will review accounting and auditing matters relevant to companies with international operations, including foreign currency and hedging, income taxes, and practical tips for the group auditor and subsidiary auditors.

27 Understanding & Using SSae 16 Reports aUJoe Griffin, CISA, Partner, PricewaterhouseCoopers, LLP, Atlanta, GADave Palmer, CPA, CISA, Managing Director, KPMG LLP, Chicago, ILThis session is designed for user entities and their auditors who want to understand the impact of the change from SAS 70 to SSAE 16. Topics will include:• The new clarified Statement on Auditing Standards for user auditors – Audit

Considerations Relating to an Entity Using a Service Organization (AU-C 402)• The migration from SAS 70 to SSAE 16 – what stays the same and what

has changed• An overview of the AICPA’s service organization control (SOC) reporting options • Understanding how to use SOC reports

4:30 pm Conference adjourns


Chair

Members

patricia piteo, Cohen & Company, Ltd., Akron, OH

steering Committee

John bellitto, Allen & Cook, Inc., San Jose, CAricky Kirkpatrick, Jones & Kirkpatrick, P.C., Birmingham, ALbrian Kreischer, Frank, Rimerman & Co., LLP, San Francisco, CAfelicia Malter, RubinBrown LLP, St. Louis, MOChuck Manganiello, AuditSense, LLC, Tampa, FLCarolyn Mcnerney, SS&G, Inc., Akron, OH

Vice Chair ron rauch, Clark Nuber P.S., Bellevue, WA


reCoMMenDeD Cpe CreDit 18 (main), up to 8 (optional) Virtual sessions Credit: thursday only 7.5, friday only 6, both days 13.5 This conference was prepared in accordance with the Joint AICPA/NASBA Statement on Standards for Continuing Professional Education (CPE) Programs effective on January 1, 2002. The recommended CPE Credits are in accordance with these standards; however, your individual state board is the final authority on the acceptance of programs for CPE credit.ConferenCe fee Registration fees are determined by current membership status in the AICPA. Please indicate member number on the registration form to obtain the correct discount. Conference fee includes all sessions, conference materials, continental breakfasts, refreshment breaks, luncheons and a reception. Fee for value-added workshops includes all session materials and refreshment breaks.

Dress CoDe Business CasualCanCellation poliCy You may cancel without penalty if written cancellation requests are received by June 4, 2012. Due to financial obligations incurred by the AICPA, a credit voucher less 50% of the registration fee will be issued for written requests received by June 28, 2012. No refunds or credits will be issued on cancellation requests received on or after June 29, 2012. For further information, call the AICPA Service Center at 888.777.7077. hotel anD grounD transportation inforMation Contact the hotel directly to obtain their policy on reservations, deposits and cancellations. Rooms will be assigned on a space-available basis only. To receive our special group rates mention that you will be attending the aiCpa national Advanced accounting and auditing technical symposium.

swissotel Chicago Hotel Phone: 312.565.0565 323 East Wacker Drive Hotel Reservations: 888.73.SWISS Chicago, IL 60601 Hotel Room Rate: $239 single/double + 15.4% tax Hotel Reservation Cutoff Date: June 22, 2012

ground Transportation – (rates subject to change; times are approximate)From o’hare International Airport: Airport Express Shuttle $29/person one way; Taxi $40-$45 one way; Private sedan/limousine $110 & up Blue Line Train: 24-hour service; $2.25/person one way, 40 minutes. Exit train at Lake/Clark; taxi to hotel about $5From Midway Airport: Airport Express Shuttle $24/person one way; Taxi $30-$35 one way; Private sedan/limousine $110 & up Orange Line Train: Operates from 5:15am to 11:30pm; $2.25/person one way, 25 minutes. Exit train at Lake/Clark; taxi to hotel about $5 airline inforMation The AICPA has a special arrangement with Maupin Travel, Inc. of North Carolina to assist you with your travel arrangements. This travel agency may be reached at 800.345.5540. If you prefer to make your own travel plans, be sure to mention the participating airline’s reference number (listed below) to take advantage of deeply discounted “Zone Fares” that do not require a Saturday night stay-over. Discounts are valid for round trip registered AICPA meetings or conferences only. Some restrictions may apply. american airlines 800.433.1790 Index #22047 united airlines 800.521.4041 Refer to Meeting ID #531SI Delta airlines 800.328.1111 Refer to Meeting ID #NM8QE For up-to-date airline information regarding special travel discounts, please visit cpa2biz.com/conferences. Due to recent airline industry fare restructuring, we cannot guarantee that the above group travel agreements will be in effect at the time when you are making your travel arrangements. Please contact the airline and/or your travel agency for latest applicable discounts and arrangements. Car rental hertz Car rental – AICPA Member Discounts: Call 800.654.2240. Ref. Code CV#021H0019. Airline and car rental discounts are available only when you or your travel agent book through the 800 number. We strongly advise you to confirm your conference registration and hotel reservation prior to making your travel plans.

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Advanced Accounting and Auditing Technical … Advanced Accounting and Auditing Technical Symposium Celebrating 25 Years July 19-20, 2012 Swissotel Chicago ... Advanced IT Considerations