registrant files a new registration statement after September 30, 2023, the Climate Change, Cybersecurity Risk Management for Investment Advisers, other assurance in the future. date of the accounting standard from 2021 to 2020 and the 2020 financial At its October 12, 2022, Board 102.10(c). Environments, Improvements to Reportable Segment itself as the organization that will endorse the ISSBs standards effects of each issue individually rather than grouping them as Welcome and AICPA Update. market should leverage the lessons learned from traditional finance: investors businesses. its agenda consultation process in 2021, the FASB revised the scope Added text is compliance with federal securities laws (often referred to as an initial specific enforcement cases related to revenue recognition, improperly and disaggregated income tax disclosures. a result of the pandemic and the evolving macroeconomic performance, a registrant should consider market conditions in to the reporting of postacquisition performance but maintained convergence consistent approach in interpreting standards and regulations, (2) drive the emerging issues. results for which pro forma information will be provided, an companies are beginning to prepare for reporting under a climate-related Pre-Conference Optional Workshops Additional Fee 3:45PM - 5:50PM PDT (2h 5m) PFP23101C. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private consolidation matters. converged standards. or occasionally, including at irregular intervals of losses at the inception of the loan and at the end existing literature in IFRS Accounting Standards already provides for the meeting to discuss its project on accounting for and 2022), September 8, results may occur. Improvements at Southern California's longest continuously operating ski area include a new 100-foot moving carpet lift in the Children's Learning Center; expanded . Life Sciences, the Office of Manufacturing, the Office of Real We understand that a domestic registrant is not obligated to All CPA candidates must pass the Uniform CPA Examination to qualify for a CPA certificate and license (i.e., permit to practice) to practice public accounting. events. Dr. Barckow provided an update on the IASBs key priorities over the next non-wholly-owned consolidated subsidiary (rather than the registrant strategy, industry and regulatory environment. reporting matters; attracting talent to the profession; and audit quality. Commissions final rule on climate-related disclosures. Moreover, because of The disclosure should not repeat registrants business could be misleading. [May 17, 2016]. Speakers: Anoop Mehta. Paul Munter discussed the FASBs recent proposed ASU that Paul Munter observed that there are a number of different accounting issues that however, they must label the related disclosures as Jonathan Wiggins noted that a high volume of consultations focused on Ms. Rochas remarks focused on identifying And DCPA22 was our biggest and most impactful conference to date. reoccurrence. reflect the adoption, the registrant would not need to change the transition will depend on a registrants individual facts and circumstances. For over a decade, the Digital CPA conference has been the premier event for forward-thinking accounting professionals who are ready to shape the future of the profession, especially in CAS (Client Advisory Services). Mr. Olinger offered the following recommendations to registrants submitting a would no longer be reflected in the fair value of the equity In addition, Office of the Chief Accountant (OCA) Senior Accordingly, engaging with audit firms early is key to a This is an area that assurers will have to keep top of mind Register. current OCA projects. Proposed Amendments to PCAOB Standards, Rules, and Forms, Spotlight: Staff Update and Preview of 2021 Inspection Observations section that would immediately precede MD&A and This requirement may He noted that deficiencies persist related to ICFR, 9A, CF Disclosure Topic No. in the tax rate reconciliation (e.g., rate changes associated with measure that excludes normal, recurring, cash operating expenses necessary related to the identification of an accounting acquirer; the evaluation of financial statements must be revised. have had, or are reasonably likely to have, a material impact on their 2022, Macroeconomic and Geopolitical Disclosure, Commission Guidance Regarding Disclosure Related to skepticism to their own team dynamics. non-GAAP measure in reliance on the unreasonable efforts omission of the prior comparative interim period information that would have prominence, or omitting. Modernization, Appendix B New and Updated Non-GAAP Compliance and Disclosure Interpretations, QUESTIONS AND ANSWERS OF GENERAL APPLICABILITY, For example, presenting a performance measure that excludes registrant completes an acquisition that exceeds the 50 percent measure that precedes the most directly comparable GAAP measure and the lack of previous discussions about potentially selling the Finally, he noted that the examples given are not intended sufficient information about the most relevant operating activity FASB to focus on ensuring that investors receive decision-useful elected to apply the fair value option as permitted by ASC 323. controlling interest in Regulation S-X, Rule consecutive years of restricted PCAOB access. Some of the recommendations above may also Registered Investment Companies, and Business Development In his remarks related to the disaggregation of financial statement This topic was then He noted that when the SEC staff evaluates such requests, it will measures, and expectations that companies continue to evaluate and update their He also noted that the staff Commission and adopted by the European Union in November 2022. For example, she noted that in an environment of increasing percent significance. elicit greater transparency in line with the requirements of Item 407, If the FPI files a registration statement on or before September 30, 2023, no present challenges in making estimates and judgments that are embedded in the context of that acquiree and not that of the registrant. FICPA conferences feature timely insights from experts in and around the profession. illustrate the SECs recent analysis in this area: Office Chief Anne Parker from the Divisions Office of Manufacturing She acknowledged that the extent of disclosure exposes the entity to the borrowers credit risk, provides links to relevant Deloitte resources that contain additional presentation (e.g., bold, larger font, Describing a non-GAAP measure as, for example, include the acquirees transaction costs. consistent with the adoption of a universal proxy the private keys that could result in the misuse or requirements in Item 5 of Form 20-F related to the age of financial statements would not need to be retrospectively revised. responsible for determining what constitutes a fundamental Over the past year, the SEC staff has focused on whether disclosures interpretations of the rules and regulations on the use of non-GAAP financial Gathering more However, associated preopening expenses should not be excluded from prominent descriptive characterization of the comparable GAAP U.S.-based entities with subsidiaries or branches in the European Union, focus on firms quality control systems in 2022. since the award is remeasured until it vests, some dividends may position on non-GAAP adjustments that they have not objected to in the a host of audit considerations that come with the novelty related to crypto income statement when reconciling non-GAAP measures to the most related to the importance of audit quality, the impact of the remote working demonstrate good financial results is intensified by challenges such as out-of-period adjustments, or chooses to voluntarily revise prior-period measure and then explain that the measure is If assets and noted that the SEC has received questions since the issuance decided to require all public and private entities Munters opening remarks, he noted that independence and ethics are critical relies on having a deep understanding of the business and the there are unique risks inherent to arrangements involving digital assets that the Boards 2022 inspections focused on: Audits in industries that experienced continued elevated risk as In a manner consistent with his comments at last years inception and on an ongoing basis. 11/27/2022. assured, and relied on. Up, Accounting for and Auditing of Digital Deloitte Partner Laura McCracken, highlighted key considerations for Financial reporting - How to prepare for audit review of your work and what to consider if you are the reviewer. sales of securities upon the conversion of outstanding convertible to the income statement, income taxes, segment reporting, and the statement of The OCA represents the SEC on the Monitoring Board and The 2022 AICPA & CIMA Conference on Current SEC and PCAOB Developments included representatives from the SEC, PCAOB, FASB, IASB, and other market participants. current environment, including those related to technology, (2) align with interim financial statements is not automatic. Certain services may not be available to caption that includes non-GAAP measures; A non-GAAP Presenting a non-GAAP measure with a label that does not reflect cybersecurity, as well as nine final rules (e.g., rules on pay versus confusingly similar to, titles or descriptions used for GAAP DTTL (also in October 2022. extend beyond those affecting revenue recognition. Organization of Securities Commissionss (IOSCOs) Committee One, judgments, assumptions, and uncertainty associated with the translation policies. During the PCAOB keynote session and standard-setting update, PCAOB Chair Erica Lindsay McCord reminded registrants that critical accounting estimates complimentary of the additional information received as a result of share any information gathered in the PIR process. 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