48th Annual Virginia Accounting & Auditing Conference

This session is takes place at the Hilton Norfolk the Main on Nov. 14.

Earn 4 CPE credits for attending.

Learn about the documentation that the Department of Labor is expecting you to provide, creating the ideal engagement with your clients and contributions testing in a new world. Also explore a host of other areas of intrigue for employee benefits professionals as well as any firm who sponsors their own plan. This session is created for CPAs who audit retirement and health and welfare plans as well as for plan sponsors who seek to understand their responsibilities for hiring their auditor and fiduciary plan governance in ongoing overall due diligence, including how to bring independence to the Request For Proposal process.

A $25 fee applies.

This session is takes place online on Nov. 14.

Earn 4 CPE credits for attending.

Learn about the documentation that the Department of Labor is expecting you to provide, creating the ideal engagement with your clients and contributions testing in a new world. Also explore a host of other areas of intrigue for employee benefits professionals as well as any firm who sponsors their own plan. This session is created for CPAs who audit retirement and health and welfare plans as well as for plan sponsors who seek to understand their responsibilities for hiring their auditor and fiduciary plan governance in ongoing overall due diligence, including how to bring independence to the Request For Proposal process.

A $25 fee applies.

Now more than ever, status quo is not an option. Some of us embrace this, but most of us chose accounting because of its stability. While we may intuitively know that change must happen for progress to occur, for many of us, the idea of change brings frustration and fear. While you may not be able to change reality, you can certainly change your perception. Explore common psychological reactions to change and discover techniques and other tips on how to mitigate the perceived threat and how to learn to embrace a little more chaos in your life.

Examine how the state and national economic and political landscapes impact Virginia business. Topics include Virginia’s economic profile, an overview of the special session of Virginia’s General Assembly, the mid-term elections, and how the current federal administration’s policies trickle down to affect the states.

What to do? What to buy? What to watch for? What to avoid? Discover where to find reliable solutions and answers about what is changing the market. Review technology trends, recommended hardware specifications, applications and licensing, and security. Obtain concentrated exposure to technology that may reveal ideas, trends and options that you may not have discovered through your normal channels.

Walk through the recently-issued Governmental Accounting Standards Board (GASB) statements, and take an in-depth look into what’s on GASB’s horizon.

Learn all about what is going on at the Financial Accounting Standards Board (FASB). Also focus on private company standards setting and recent activities of the Private Company Council (PCC).

Analytical procedures are powerful techniques that support audit effectiveness and promote efficiency. Generally Accepted Auditing Standards (GAAS) require the use of analytical procedures in every audit. Today’s IT environment makes new analytical procedures possible using data analytics that help auditors expand the reach of audit testing and zero in on areas where audit resources are needed the most. Data analytics also make it possible for CFOs to extract and report meaningful information regarding financial trends and relationships to support management decisions. In this practical session, eview the professional standards regarding the use of analytical procedures and examine how data analytics can be integrated into the audit process and financial management, using affordable tools readily available to every CPA.

Discuss terminology, current issues and trends associated with contracting with the federal government. In addition, obtain an overview of applicable regulations including contract audit requirements, the impact of various available contract types and other relevant issues in the federal contractor marketplace.

Information coming soon!

This session is designed for non-tax practitioners and addresses the effects of the Tax Cuts and Jobs Act passed in late 2017 on individual income tax returns. Dive into the Act’s effect on itemized deductions, including a sample Schedule A under both the old and new laws. Discuss general planning strategies and other considerations as we begin to navigate through these changes to tax law. Review any technical corrections to the Act that have been issued prior to the conference.

Find out how to be a better auditor, plan sponsor or tax consultant for retirement plans sponsored by an employer. There is much opportunity for all CPAs to be engaged, and this lunch session will be helpful to those who just want to be best in class no matter what your perspective may be. Discuss fiduciary guidance, participant responsibilities and best practices for communications.

Focus on the latest developments in the state and local tax arena. Learn how to prepare for the ways states are approaching nexus, expanding their tax bases and adopting aggressive approaches to capturing additional tax revenues.

For many, security incidents are not a matter of “if,” but a matter of “when.” Therefore, you should use an end-to-end approach for protecting your data, and in this session, you will learn how to do just that. Learn about multi-factor authentication, password managers, encryption, mobile device management, anti-virus, firewalls, policies and other tools that you can implement immediately. Remember, spending more does not make you more secure, but doing the right things can.

As a CPA, you may often be asked by a client or client advisor to read and analyze a business valuation report for purposes such as a buy/sell agreement; purchase or sale of a security; estate, gift and income tax; financial reporting; litigation; divorce; etc. If you do not have a business valuation specialist on your staff with whom you can consult, how do you interpret the valuation to ensure the conclusion is reasonable and not flawed or biased? Learn about the three valuation approaches and key value drivers. Discover ways manipulation of key value drivers can change the valuation conclusion, and review the red flags to look for to identify a flawed valuation.

Walk through the recently-issued Governmental Accounting Standards Board (GASB) statements, and take an in-depth look into what’s on GASB’s horizon.

Information coming soon!

Learn all about what is going on at the Financial Accounting Standards Board (FASB). Also focus on private company standards setting and recent activities of the Private Company Council (PCC).

As a CPA, you may often be asked by a client or client advisor to read and analyze a business valuation report for purposes such as a buy/sell agreement; purchase or sale of a security; estate, gift and income tax; financial reporting; litigation; divorce; etc. If you do not have a business valuation specialist on your staff with whom you can consult, how do you interpret the valuation to ensure the conclusion is reasonable and not flawed or biased? Learn about the three valuation approaches and key value drivers. Discover ways manipulation of key value drivers can change the valuation conclusion, and review the red flags to look for to identify a flawed valuation.

Discuss terminology, current issues and trends associated with contracting with the federal government. In addition, obtain an overview of applicable regulations including contract audit requirements, the impact of various available contract types and other relevant issues in the federal contractor marketplace.

Analytical procedures are powerful techniques that support audit effectiveness and promote efficiency. Generally Accepted Auditing Standards (GAAS) require the use of analytical procedures in every audit. Today’s IT environment makes new analytical procedures possible using data analytics that help auditors expand the reach of audit testing and zero in on areas where audit resources are needed the most. Data analytics also make it possible for CFOs to extract and report meaningful information regarding financial trends and relationships to support management decisions. In this practical session, eview the professional standards regarding the use of analytical procedures and examine how data analytics can be integrated into the audit process and financial management, using affordable tools readily available to every CPA.

Focus on the latest developments in the state and local tax arena. Learn how to prepare for the ways states are approaching nexus, expanding their tax bases and adopting aggressive approaches to capturing additional tax revenues.

Discuss changes to corporate tax as a result of the Tax Cut and Jobs Act, including the rate differences and how they may affect the choice of entity. Also explore:

• The new net operating loss deduction
• Changes in the depreciation rules and how they may affect the choice of entity and other decisions
• Entertainment and whether or not it or is not deductible, especially in the absence of the miscellaneous itemized deductions on the individual return
• The potential loss of the interest expense deduction
• Preparation of applicable financial statements and the effect on Schedule M-1 on the business filings
• Other pronouncements as released by the IRS

Three years ago, the AICPA launched its Enhancing Audit Quality (EAQ) Initiative, a holistic solution for improving audit quality in an increasingly complex business environment. Obtain an update on the AICPA’s data-driven approach to improving audit quality as well as progress made in combatting the largest audit issues, including resources the AICPA has developed for auditors, audit engagement teams and auditees.

Global trends are changing the CPA profession in profound ways, and the VSCPA is developing strategies to ensure the profession remains strong and relevant in the future. In this session, gain insight into how CPAs will thrive by developing higher level skills, including leadership and cultural competencies; understanding and embracing technological disruption; investing in grassroots student awareness; and cultivating relationship-driven professional advocacy.

Hear the most significant Virginia Board of Accountancy (VBOA) disciplinary actions from Jan. 1, 2018 to Sept. 1, 2018.

Discuss changes and choices to individual tax under the Tax Cut and Jobs Act, including the rate changes and individual net operating loss deduction. Also explore:

• The effect on state filings
• Schedule A and which deductions are left
• Home equity borrowings
• The Section 199A deduction and how it can affect estimated taxes and withholding
• IRS pronouncements 
• The result of the business decisions on the preparation of the individual returns

The risk landscape is constantly changing with new threats, regulations, and evolving cybersecurity vulnerabilities and attack methods. To tackle increasing data threats, companies need to put cybersecurity at the very heart of their businesses. Learn the key components of an effective cybersecurity risk management program. Remember — it’s far better to start moving and learn as you go, than it is to get stuck in “analysis paralysis!”

Satisfy your 2018 Virginia Board of Accountancy (VBOA) Ethics requirement with this 2-hour, Virginia-specific Ethics course.

Participate in an interactive discussion of requirements, best practices and hot topics with respect to preparation, compilation and review engagements. Topics include:

• Recently-issued SSARS No. 24, Omnibus Statement on Standards for Accounting and Review Services — 2018 including international reporting issues and new review requirements with respect to consideration of going concern
• A preparation service vs. a bookkeeping engagement
• Compilation and review of financial statements prepared in accordance with a special purpose framework
• Continued hot topics in preparation, compilation and review engagements
• Common peer review findings and appropriate procedures to be in compliance with standards
• The AICPA’s Accounting and Review Services Committee’s current standard-setting agenda

Malpractice risks facing CPAs include many well-known issues and themes, but others are new and evolving. Get a fresh take on best practices for addressing risks facing those practicing in public accounting. This session offers practical guidance and raises awareness to help CPA firms avoid recent, common and unexpected dangers that often trip up the unwary. Learn to embrace these best practices to increase your firm’s profitability and reduce the likelihood of being sued. Obtain a refresher on defensive documentation methodologies and learn about professional standards and dilemmas that frequently surprise seasoned practitioners. The session will draw upon “war stories” from actual claims and calls to CAMICO’s Loss Prevention Hotline.

Learn about the Affordable Care Act (ACA) changes coming in 2019 and how to lower health care costs for employers.

Learn about the VBOA’s disciplinary process including what happens from referral or public complaint through closed investigations or published disciplinary actions.

This session is designed for non-tax practitioners and addresses the effects of the Tax Cuts and Jobs Act passed in late 2017 on individual income tax returns. Dive into the Act’s effect on itemized deductions, including a sample Schedule A under both the old and new laws. Discuss general planning strategies and other considerations as we begin to navigate through these changes to tax law. Review any technical corrections to the Act that have been issued prior to the conference.

The U.S. Government Accountability Office (GAO) has proposed revisions to the Government Auditing Standards (the Yellow Book). The revisions include changes to the format and structure of the standards as well as changes in the areas of auditor competence, internal control and external peer review. Learn about the key changes in Government Auditing Standards and the impact the changes may have on auditors and auditees.

Malpractice risks facing CPAs include many well-known issues and themes, but others are new and evolving. Get a fresh take on best practices for addressing risks facing those practicing in public accounting. This session offers practical guidance and raises awareness to help CPA firms avoid recent, common and unexpected dangers that often trip up the unwary. Learn to embrace these best practices to increase your firm’s profitability and reduce the likelihood of being sued. Obtain a refresher on defensive documentation methodologies and learn about professional standards and dilemmas that frequently surprise seasoned practitioners. The session will draw upon “war stories” from actual claims and calls to CAMICO’s Loss Prevention Hotline.

Wow, where do we begin? An interesting presidential election, with a myriad of financial, economic and other implications. The crypto-craze. World trade, a seemingly booming investment market in some countries vs. pure economic collapse in others. Amazing tech and fintech developments. Scores of investment and borrowing opportunities. Yes, it's been 10 years since the U.S. and global financial crises. The world economy has recently returned to relatively robust growth; however, some familiar risks are creeping back, and new ones have emerged. Join this session for a look at interesting developments both here in the U.S. and around the world. 

Learn about the Affordable Care Act (ACA) changes coming in 2019 and how to lower health care costs for employers.

The new Nonprofit Financial Statements standard requires changes in the way nonprofits report their financial information, but in order to account for these changes, it is necessary to make some behind-the-scenes changes in policies, operations, accounting systems and mindset. This session tells the tale of two groups of nonprofit organizations — two charities and two trade associations. Within each group, one organization embraces the changes and uses them to their benefit year-round; the other organization … well, you’ll have to attend the session to find out.  This session requires a basic understanding of the new standard and familiarity with nonprofit operating models.

The risk landscape is constantly changing with new threats, regulations, and evolving cybersecurity vulnerabilities and attack methods. To tackle increasing data threats, companies need to put cybersecurity at the very heart of their businesses. Learn the key components of an effective cybersecurity risk management program. Remember — it’s far better to start moving and learn as you go, than it is to get stuck in “analysis paralysis!”

The U.S. Government Accountability Office (GAO) has proposed revisions to the Government Auditing Standards (the Yellow Book). The revisions include changes to the format and structure of the standards as well as changes in the areas of auditor competence, internal control and external peer review. Learn about the key changes in Government Auditing Standards and the impact the changes may have on auditors and auditees.

Wow, where do we begin? An interesting presidential election, with a myriad of financial, economic and other implications. The crypto-craze. World trade, a seemingly booming investment market in some countries vs. pure economic collapse in others. Amazing tech and fintech developments. Scores of investment and borrowing opportunities. Yes, it's been 10 years since the U.S. and global financial crises. The world economy has recently returned to relatively robust growth; however, some familiar risks are creeping back, and new ones have emerged. Join this session for a look at interesting developments both here in the U.S. and around the world. 

Satisfy your 2018 Virginia Board of Accountancy (VBOA) Ethics requirement with this 2-hour, Virginia-specific Ethics course.

The new Nonprofit Financial Statements standard requires changes in the way nonprofits report their financial information, but in order to account for these changes, it is necessary to make some behind-the-scenes changes in policies, operations, accounting systems and mindset. This session tells the tale of two groups of nonprofit organizations — two charities and two trade associations. Within each group, one organization embraces the changes and uses them to their benefit year-round; the other organization … well, you’ll have to attend the session to find out.  This session requires a basic understanding of the new standard and familiarity with nonprofit operating models.

Participate in an interactive discussion of requirements, best practices and hot topics with respect to preparation, compilation and review engagements. Topics include:

• Recently-issued SSARS No. 24, Omnibus Statement on Standards for Accounting and Review Services — 2018 including international reporting issues and new review requirements with respect to consideration of going concern
• A preparation service vs. a bookkeeping engagement
• Compilation and review of financial statements prepared in accordance with a special purpose framework
• Continued hot topics in preparation, compilation and review engagements
• Common peer review findings and appropriate procedures to be in compliance with standards
• The AICPA’s Accounting and Review Services Committee’s current standard-setting agenda