Nonprofit Conference (E1912570)

7:30-8 a.m.
Registration, Breakfast and Welcome

8-8:50 a.m.
Industry Update and Post-Implementation of FASB 2016-14 (AA)
Louis J. Mezzina, CPA
Not-for-profit organizations are frequently in the news. Examine headlines to understand what drives the stories and discover key takeaways. Then, discuss lessons learned from the implementation of FASB 2016-14.

8:50-10:05 a.m.
Grants and Contracts for Not-for-Profits (AA)
Richard A. Cole, CPA - BKD
This session will provide an overview of the FASB’s new grants and contracts accounting standard update and some implementation ideas.

10:05-10:25 a.m.
Morning Break

10:25-11:40 a.m.
Leases – Implementing the Changes for Lessees (AA)
Brad E. Muniz, CPA – SobelCo
Frank R. Boutillette, CPA, CGMA, ABV – Withum
Discuss an overview of the changes to the lease standards, examples of lessee implementation and certain nuances that are commonly overlooked.

11:40 a.m.-12:40 p.m.
Lunch

12:40-1:55 p.m.
Breakout Sessions (Choose One)

1A. The 2019 Yellow Book and Single Audit Update (AA)
Alexander K. Buchholz, CPA, MBA, CGMA – PKF O’Connor Davies, LLP
Examine changes for those audits conducted under the Uniform Grant Guidance, along with forthcoming Yellow Book revisions and independence for non-attest services.

1B. IRS Tax-Exempt Update (TX)
Magdalena M. Czerniawski, CPA, MBA and Robert Lyons, CPA, MST – Marks Paneth LLP
This session will cover tax-exempt organizations’ tax landscape post Tax Cuts and Jobs Act, including issues with transit and parking tax, blended rate issues, new developments and IRS plan.

1C. Advancing Exemplary Governance (SK)
Louis J. Mezzina, CPA
There is a great deal of literature focused on not-for-profit governance, from basic responsibilities to best practices. However, governance remains one of the most challenging areas to manage. However, there are exceptional boards that oversee correctly and are valuable strategic assets of their organizations. This session will provide steps any organization can take to improve performance.

1:55-2:05 p.m.
Afternoon Break

2:05-3:20 p.m.
Breakout Sessions (Choose One)

2A. Risk Assessment (AA)
June M. Toth, CPA, CFF, CITP, CGMA – ZBT Certified Public Accounting & Consulting, LLC
Since the issuance of the Risk Assessment Standards, Peer Review teams have found that more than one in 10 firms failed to comply with AU-C Section 315 or 330. Learn what are the most pervasive issues that Peer Review teams have uncovered and how to avoid them. Review:

• What are the misconceptions leading to non-compliance that relate to understanding the entity and it’s environment, assessing the risks of material misstatement and performing procedures in response to assessed risks.
• Consider how to determine responses identified and assessed risks by selecting or designing procedures.
• What risks are relevant to the financial statement audit?

2B. Private Foundations and Donor Advised Funds (TX)
Magdalena M. Czerniawski, CPA, MBA and Robert Lyons, CPA, MST – Marks Paneth LLP
This session will cover recent development in self-dealing, equivalency determinations and other excise tax issues. Then, discuss Donor Advised Funds and Notice 2017-73 with an explanation of the differences between Private Foundation and Donor Advised Funds.

2C. Best Practices for Internal Controls (AA)
Scott A. Brown, CPA, CGMA – PKF O’Connor Davies LLP
Internal Controls are critical for organizations of all types and sizes. Not-for-Profits are no exception. Examine:

• The importance of having a strong internal control system to ensure an organization’s success
• Best practices and five questions every organization should ask when reviewing their internal controls
• Common deficiencies recently identified during financial statement audits of nonprofit organizations

3:20-3:40 p.m.
Afternoon Break

3:40-4:30 p.m.
What’s New at the IRS? (TX)
Maria Hooke and Peter Lorenzetti - Internal Revenue Service
This session will discuss a variety of observations and areas of concern that the Internal Revenue Service (IRS) sees when dealing with not-for-profit organizations.