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Tuesday, November 9, 2021 Live Webcast

Accounting and Auditing Conference (E2111440)

8:30 AM - 4:30 PM EST


8.0 CPE Credits in AA


This year’s conference focuses on challenges that the COVID-19 pandemic presents on compilation, review and audit services, including full-disclosure financial statements and performing audits remotely. In addition, recently issued audit standards and FASB updates that impact 2021 audits and financial reporting will be discussed.


CPAs in public practice and private accounting


8:30-10:10 a.m.
Financial Reporting Update
John M. Fleming, CPA, M.B.A.
In light of the events of the past year, there are numerous financial reporting issues for accounting professionals to consider. This session will review the potential GAAP financial reporting impacts and consequences with a focus on common financial reporting issues most companies are likely to face.

10:10-10:30 a.m.

10:30 a.m.-12:10 p.m.
Disclosure Update
John M. Fleming, CPA, M.B.A.
This session will provide an update on disclosures that companies should be aware of for 2021 financial statements and the impact to the disclosures for 2022 financial statements.

12:10-12:40 p.m.

12:40-2:20 p.m.
Breakout Sessions (Choose One)

1A. Review of Revenue from Contracts with Customers
John M. Fleming, CPA, M.B.A.
This session will look at revenue standard ASU 2014-09 as amended by ASU 2020-05 (as it is now effective for most companies), and the issues practitioners and users are experiencing with implementation. Consideration for those who are in the midst of implementation will also be discussed.

1B. Fraud Risk Framework
Kenneth A. Heaslip, CPA, CGMA, M.B.A.
The AICPA Forensic and Litigation Services Fraud Task Force recently created three fraud risk frameworks. This session will look at how the three frameworks can be used to determine the most common fraud schemes, and provide practitioners with tips to discuss fraud risk mitigation through prevention, deterrence and detection. It will also look into the new Statement on Standards for Forensic Services (SSFS 1) as well as the changes related to fraud, misstatement and internal control deficiencies in the recently issued Statement on Auditing Standards No. 135 (SAS 135).

1C. Practitioner Concerns with Going Concern
Rebecca M. Lee, CPA, CGMA
This session will dive into all aspects of going concern with regard to the current work environment as well as the newly issued Statements on Auditing Standards. It will cover identification by management of the conditions and events that would address potential going concern issues, the documents and plans to mitigate the issues as well as the required disclosures. It will also cover the auditor’s responsibility for auditing management’s identification, plan of these conditions and events, as well as the adequacy of the disclosures in the financial statements and how to report on the issues. Examples will illustrate concepts discussed.

2:20-2:40 p.m.

2:40-4:20 p.m.
Breakout Sessions (Choose One)

2A. Lease Accounting Overview
John M. Fleming, CPA, M.B.A.
With Topic 842, Leases, now effective for non-public and public not-for-profit reporting entities for annual reporting periods beginning after Dec. 15, 2021, this session will provide participants with the significant differences from legacy Topic 840, Leases. It will also identify implementation issues that may be troublesome such as lease identification due to embedded leases or the lack of a centralized source for lease information.

2B. Understanding the Newly Issued SSARs and SSAE Standards
Kenneth A. Heaslip, CPA, CGMA, M.B.A.
The recently issued SSARs and SSAE standards make significant changes to review engagements and agreed-upon procedures engagements. Because SSAE 19 is now effective for agreed-upon procedures with reports dated on or after July 15, 2021, it is a good time to get any questions answered. SSARS 25 has an effective date of engagements performed in accordance with SSARs on financial statements for periods ending on or after Dec. 15, 2021, so participants may use this session to make final preparations for applying this standard.

2C. In-Depth Look at SASs 142 and 143
Rebecca M. Lee, CPA, CGMA
The changing environment created by SAS 142, Audit Evidence, and SAS 143, Auditing Accounting Estimates and Related Disclosures, has introduced new, complex issues. This session will look at the documentation, evidence and procedures necessary to apply the new standards. Guidance will be provided for the related disclosure of the use of estimates in financial reporting and focus on the uncertainty of using estimates and management’s bias.








John Fleming

John M. Fleming, CPA, M.B.A.

Kaplan Financial Education, Powered by Loscalzo

John M. Fleming, CPA, M.B.A. John M. Fleming, licensed as a CPA in Pennsylvania, has served as the Director of Content Development for Kaplan Financial Education, powered by SmartPros, and also as President and Director of Accounting and Auditing for Kaplan Financial Education, powered by Loscalzo Institute. John retired on October 1, 2017. In retirement, John continues to provide seminars as a discussion leader on a part-time basis. John’s prior practice experience includes audit, tax, consulting, office management, and human resource responsibilities with Deloitte LLP, Richard Eisner & Company LLP, and Ernst & Young LLP. John is a graduate of LaSalle and Drexel Universities with degrees in accounting and finance. John served as the 1999–2000 President of the 8,300-member Greater Philadelphia Chapter of the Pennsylvania Institute of Certified Public Accountants (PICPA). In 2006, the PICPA recognized John as a Joseph E. Sterrett Fellow for his contributions to the accounting profession. In 2007, the Philadelphia Chapter recognized John with their Champion Award for his contributions to the PICPA, Chapter, profession, and community. John has also served as the 2002/2003 President of the American Accounting Association’s Mid-Atlantic Region.

Kenneth Heaslip

Kenneth A. Heaslip, CPA, CGMA, M.B.A.


Cullari Carrico LLC

Kenneth Heaslip, MS, MBA, CPA, CGMA Kenneth Heaslip, licensed as a CPA in New Jersey, has extensive experience teaching all levels of accounting, auditing, and other practice-related areas. He is an active member of the NJCPA, where he has served in positions such as Vice President, Trustee Chapter President, Committee Chair, and Task Force Chair. Kenn currently serves on the NJCPA Professional Conduct Committee and is a Director at Cullari Carrico LLC, a regional CPA firm in Northern New Jersey. Kenn has been a Professor of Accounting at several universities including Seton Hall, where he was the students’ choice as “Educator of the Year” two years in a row, as well as in the Executive Masters of Business Administration program at Rutgers University. In addition, he was the National Director of the Becker CPA Review. Kenn earned his Bachelor of Arts from Rutgers University and has a Master of Science in Taxation and Masters of Business Administration in Finance from Seton Hall University.

Rebecca Lee

Rebecca M. Lee, CPA, CGMA

Kaplan Financial Education, Powered by Loscalzo

Rebecca M. Lee, CPA, CGMA Rebecca Lee, licensed as a CPA in Alabama and South Carolina, is a Group Practice Leader for Kaplan Financial Education, powered by Loscalzo Institute, and a founding Principal with Brooke, Freeman & Lee. She serves as the assurance, quality control, and compliance principal with responsibilities for the audit practice. She has served on numerous AICPA and state society committees, including the AICPA Management Consulting Service Professional Practice Subcommittee, Small Business Consulting Practices Subcommittee, and Council of the AICPA. She has chaired both the Management Advisory Committee and the Personal Financial Planning Committee of the Alabama Society of CPAs. Rebecca currently serves on the Illinois Society of CPAs Peer Review Committee, which serves multiple state societies of CPAs. Rebecca has served as professor of management accounting in the graduate studies (Master in Public and Private Management) program at Birmingham-Southern College. Rebecca holds a Bachelor of Science in Accounting from Jacksonville State University, along with a master’s degree in Accounting from Birmingham Southern College. She is a member of the Alabama Society of CPAs, the South Carolina Association of CPAs, and the AICPA.


$259.00 - Member

$409.00 - Nonmember

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