SEC Virtual Conference: An Accounting & Reporting Update for Public Companies

DAY ONE AGENDA

Welcome & Opening Remarks
8:45 – 9:00 AM

Key SEC Developments
9:00 – 10:00 AM
In this session, we will provide you with the up-to-the-minute information and guidance you need to successfully handle all of today's most critical SEC accounting and reporting issues, including:
• Status of SEC Rulemaking
• Climate Disclosure Rules
• Special Purpose Acquisition Companies
• SEC Sample Comment Letters
• SEC Cybersecurity Disclosure Rules
• Delaware Law Developments
• Staff Accounting Bulletins and Staff Guidance
   – Accounting for Obligations to Safeguard Crypto Assets
   – Segment Reporting 

Break
10:00 – 10:05 AM

Key SEC Developments (continued) 
10:05 – 11:05 AM
• Share Repurchase Disclosure Rules
• New Insider Trading Rules
• Recovery of Erroneously Awarded Compensation
• Pay vs. Performance
• Perquisites
• Staff Comment on Materiality and Statement of Cash Flows
• SEC Staff Comments and Trends

Break
11:05 – 11:10 AM

Cybersecurity—New SEC Rules, Legislative Developments & Other Regulations
11:10 AM – 12:10 PM
As cyber threats continue to evolve, organizations must not only protect their systems but also navigate an increasingly complex regulatory environment. This session provides a comprehensive overview of cybersecurity risks, mitigation strategies, regulatory compliance, and crisis management in the face of cyber incidents. 

Our team of experts will explain cybersecurity risks and the best practices for how to mitigate them, as well as how to respond effectively if a data breach occurs. They will provide practical insights on compliance with the latest SEC rules, including disclosure requirements. Additionally, they will discuss public relations strategies to manage reputational risks in the event of a breach and guidance on responding to an SEC enforcement inquiry, should one arise. 

By the end of this session, attendees will have a solid understanding of cybersecurity governance, compliance obligations, and incident response strategies to protect their organizations from financial, legal, and reputational harm. 

Lunch
12:10 – 12:55 PM

Sustainability Reporting—Where do Things Stand?
12:55 – 1:55 PM
Market, investor and key stakeholder driven demand for the most up-to-date sustainability and climate-related information has not abated. Formal regulations and required reporting of sustainability and climate-related information for US companies with a presence in the European Union have been finalized with formal effective dates. In addition to California, more states have finalized or proposed mandatory climate-related reporting for public and private entities “doing business” in their respective states, regardless of where an organization might be incorporated. In all cases, third party assurance is still part of the reporting requirements. This session will also focus on: 
• Continued Voluntary Sustainability Reporting Facts
• How the SEC Climate-Related Disclosure Rules Ended, but “Materiality” Still Applies
• Updated European Union Sustainability Reporting Requirements for US Companies
• Current US State Climate-related Reporting Requirements 
• Sustainability Program Governance Still Critical for Success 
• Applying the COSO Internal Control Framework to Sustainability Reporting 
• How Technology Enables Sustainability Data Collection, Reporting & Execution  
• Third Party Assurance still part of the Process

Break
1:55 – 2:00 PM

Non-GAAP Measures, Metrics & Disclosures 
2:00 – 3:00 PM
While the SEC's non-GAAP measures and metrics have been around for some time, they still cause headaches for businesses when it comes to disclosures and financial statements. In this session, we will address how companies are currently applying non-GAAP guidance and metrics, and what can be done in response to SEC comment letters to avoid costly fines and penalties. Topics include:
• Non-GAAP Measures & KPIs
• SEC Staff Guidance
• Recent Comment Letter Trends
• Key Performance Indicators

Break
3:00 – 3:05 PM

FASB Update
3:05 – 4:05 PM
FASB’s recent changes will have a huge impact on business in many important areas, such as segment reporting, software costs, business combinations, and more. This session will update you on what these changes are, including:
• Accounting Standard Updates
• FASB Agenda
• Segment Reporting
• Improvements to Income Tax Disclosures
• Joint Venture Formations
• Disaggregtion of Income Statement Expenses ("DISE")
• Accounting for and Disclosures of
   – Crypto Assets
   – Software Costs
   – Government Grants
   – Environmental Credits
• Emerging Issues Task Force (EITF)

Break
4:05 – 4:10 PM

Accounting for Digital Assets 
4:10 – 5:10 PM
The FASB has released new accounting guidelines dealing with digital assets known as Fair Value Accounting. As a result, financial professionals are quickly playing catchup to understand the accounting and auditing issues related to important new technologies such as cryptography and blockchain. In this session, an expert will address:
• Fundamentals of Distributed Ledger Technology
• Accounting for Crypto Assets Before and After ASU 2023-08
• Disclosure Considerations
• Comparison of US GAAP vs. IFRS
• Examples of Accounting for Different Crypto Asset Transactions
• Audit Considerations
• Relevant Literature and Updates

Closing Remarks
5:10 – 5:15 PM

DAY TWO AGENDA

Welcome & Opening Remarks
8:30 – 8:45 AM

SEC Enforcement Issues
8:45 – 10:15 AM
Discover the latest initiatives that the SEC's Division of Enforcement is targeting, what factors trigger investigations and enforcement actions, and the possible outcomes. You will also hear about numerous examples of enforcement situations in order to best avoid potential complications. In this session, we will cover:
• SEC Leadership & Enforcement Highlights
• Sources of Investigations
• SEC Investigation Process
• Financial Reporting & Disclosure Trends
• FCPA Trends
• Current Enforcement Trends & Developments
• Recent Cases
  – Accounting and reporting
  – Individual auditors and accountants
  – Insider trading
• AI Disclosures
• Whistleblowers

Break
10:15 – 10:20 AM

Public Company Auditing Update
10:20 – 11:20 AM
Receive updates on the most recent efforts being made by the PCAOB to protect investors and enhance audit quality for public companies. This session will cover the following areas of interest:
• Final Standards & Rules
• Confirmations
• Technology-Assisted Analysis
• Proposed Standards & Rules
• Designing and Performing Substantive Analytical Procedures (SAPs)
• Noncompliance with Laws and Regulations (NOCLAR)
• Areas of PCAOB Focus
• Standard-Setting & Research Agendas

Break
11:20 – 11:25 AM

MD&A Update & Best Practices
11:25 AM – 12:30 PM
Two seasoned SEC Division of Corporation Finance alums will review not only the basic disclosure requirements of Management’s Discussion & Analysis (MD&A) and best practices, but also address recent SEC guidance, trends in Staff comment letters and important SEC enforcement actions related to MD&A disclosures. The discussion will cover current MD&A topics of interest such as:
• Inflation
• Cybersecurity
• Artificial Intelligence
• Key Performance Indicators (KPIs)
• Private Securities Litigation Reform Act (PSLRA)
• Forward-looking Statements and More

Lunch
12:30 – 1:15 PM

Roundtable Discussion on Hot Button Issues for Public Companies
1:15 – 2:45 PM
Industry, auditing, legal and other experts will discuss how public companies are dealing with:
• ESG Reporting
• Artificial Intelligence
• Cyber Related Issues
• Board Matters
• Mergers & Acquisitions (M&A)
• Geopolitical Matters

Break
2:45 – 2:50 PM

Internal Controls—Hot Topics
2:50 – 3:50 PM
This session will provide an update on current trends associated with a company’s internal control environment. It will also discuss documentation and controls requirements for public companies based on recent guidance and enforcement actions from the SEC and PCAOB. Topics to be discussed include:
• Internal Control Trends
   – SOX function as a controls advisor
   – The future of controls execution
   – Risk assessment process
   – Understanding data flows and risks
   – Testing strategy
   – Direct entity level controls
   – Culture and ongoing education
   – Integrated assurance
• Critical Audit Matters (CAMs)
• Enablement of Automation in Control Activities & Testing
• Material Weakness Study
   – Background statistics
   – Themes reported
   – Process areas

Break
3:50 – 3:55 PM

Frequently Encountered Accounting & SEC Reporting Topics
3:55 – 5:10 PM
This session will focus on complex and challenging accounting and SEC reporting topics that are frequently encountered by financial accounting professionals serving public companies, including:
• Use of Non-GAAP Measures
• SEC Staff Comments
• Contingencies
• Segment Reporting
• Climate Change Disclosures
• Revenue Recognition
• Fair Value Measurements
• Asset Impairment
• Goodwill & Indefinite-Lived Intangible Assets
• Cost of Sales & Inventory
• Estimated Annual Effective Tax Rate (EAETR)
• Going Concern
• Cryptocurrency
• Business Combinations
• Statement of Cash Flows
• Impact of Higher Inflation & Interest Rates
• Accounting Changes & Error Corrections

Closing Remarks
5:10 – 5:20 PM

Conference Ends
5:20 PM

CURRENT REGULATORS

Anne McKinley, Assistant Regional Director, Division of Enforcement, SEC

Alexander Vasilescu, Trial Unit Chief, SEC's New York Regional Office

Nikolay Vydashenko, Assistant Director, SEC's Fort Worth Regional Office
 

FORMER REGULATORS

Robert Hirth, Consultant, Former Senior Managing Director, Protiviti, Member, PCAOB & AICPA

Henry Klehm III, Partner, Jones Day, formerly in the Division of Enforcement, SEC

David Korvin, Attorney, Gibson, Dunn & Crutcher LLP, formerly an Attorney at Division of Corporation Finance, SEC

Scott Mascianica, Partner, Holland & Knight, former Assistant Regional Director, SEC's Division Of Enforcement

James Moloney, Corporate Partner, Gibson, Dunn & Crutcher LLP, former Special Counsel, Division of Corporation Finance, SEC

Brad Mroski, Managing Director, AlixPartners, former Assistant Chief Accountant, Division of SEC Enforcement, SEC

David Peavler, Partner, Jones Day, Former Regional Director for Enforcement, SEC

Susan Resley, Partner, Morgan Lewis, formerly in the Division of Enforcement, SEC
 

CORPORATE LEADERS, BIG 4 & OTHER MAJOR ACCOUNTING FIRMS

Lauren Assaf-Holmes, Corporate Associate focused on ESG, Securities Regulation, and Corporate Governance, Gibson, Dunn & Crutcher LLP

Stuart Block, Practice Director, Sustainability, Schellman

Aaron Briggs, Partner, Gibson Dunn 

Chad Chevalier, Managing Director, EY

Meghan Depp, Professional Practice Partner – SEC Services, BDO

Loral De Salvio, National Office Director, PwC

Sheri Fabian, National Assurance Partner, SEC Services, BDO

Shelley Finn, Senior Financial Principal/Director, Accounting Policies, DXC Technology

Bobbi Gwinn, Director, Professional Practice, Accounting, BDO Solutions

Lisa Habash, Professional Practice Senior Manager, SEC Services, BDO

Daniel Hammond, Assistant Corporate Controller, Motorola

Gina Hancock, Associate Attorney, Gibson Dunn

Justine Jacob, Technical Director, MorganFranklin

Marie Johnson, Partner, Business Consulting, Ernst & Young LLP

Kimberly Kelly, National Quality Organization Director, PwC

Sue King, SOX Solution Lead, KPMG

Amanda Krauss, Partner, Ernst & Young LLP

Tim Kviz, National Assurance Managing Partner, SEC Services, BDO

Julia Lapitskaya, Partner, Gibson Dunn

Jennifer Lee, Senior Manager, Ernst & Young LLP

David Levi, Senior Vice President, Controller & Principal Accounting Officer, Vonage

Sidney McClung, Partner, Jones Day

Colleen McManus, Senior Manager, MorganFranklin

William Molloie, Audit Committee Chair, Silvaco Inc.

Greg Moore, Member – Board of Directors, Texas Roadhouse

Polia Nair, Partner, National Director, SEC Practice, CohnReznick LLP

Angela Newell, National Assurance Partner, BDO

Louise Santacruz, Executive Director, Department of Professional Practice, KPMG

Jeremiah Saunders, Professional Practice Group Director, BDO

Evan Singer, Partner, Jones Day

Patrick Spagna, Director, PwC

Kristin Sullivan, Partner, Deloitte

Michael Titera, Partner, Gibson Dunn

Kevin Tollison, Partner, Ernst & Young LLP

Brian Tomlinson, Managing Director, Ernst & Young, LLP

Sara Watson, ESG Controller, Netflix

Bill Witt, Director, Accounting and Transaction Services, MorganFranklin

Christopher Wright, Global Leader – Business Performance Improvement Solution, Protiviti