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Latest Coronavirus Impact on the State of Accounting

Venue

This is a virtual event, accessible online and over the phone. Access instructions will be provided after registration.

Description

The past decade introduced a ubiquitous wave of accounting reform and recent months highlight issues from the pandemic Coronavirus. Accounting, audit, and financial reporting is experiencing unprecedented challenges and delays. Seismic shifts in how companies report and disclose their transactions and operations present technical and operational challenges necessitating professional comprehension, analysis, and execution. 

This webinar explores the state of accounting to analyze changes as a direct result of the Coronavirus impact on financial reporting, auditing, and sustainable accounting standards. Join us for an interactive webinar hosted by industry leaders:

-    Scott Taub, former Deputy Chief Accountant at the SEC
-    Jeffrey Hales, Chairman, Sustainability Accounting Standards Board (SASB)
-    Catherine Ide, Vice President, Professional Practice at the Center for Audit Quality
-    Joseph Bailey Senior Accounting Analyst, Bloomberg Tax & Accounting 

They will explore the impacts of the Coronavirus on current state of accounting and how to approach challenges and gain enhanced awareness of available resources.


Learning objectives: 
-    Gain awareness on the coronavirus and its economic impact on financial accounting, sustainable reporting and recent audit changes
-    Learn recent financial reporting standards changes 
-    Know recent SEC, PCAOB, and AICPA updates and guidance for reporting requirements 
-    Understand financial reporting changes and implications from the coronavirus 
-    See how the how SASB standards come into play during pandemics

Who should attend:  
Accounting and Auditing Professionals

Presenters

Scott Taub
  • Managing Director
  • Financial Reporting Advisors LLC

Scott A. Taub is a Managing Director of Financial Reporting Advisors, LLC (FRA). Based in Chicago, Illinois, FRA provides consulting services related to accounting and SEC reporting. FRA specializes in applying generally accepted accounting principles to complex business transactions, offering clients an unbiased assessment of the accounting literature as applied to their situation. Mr. Taub has been a member of many professional committees including the FASB’s Valuation Resource Group, the IFRS Interpretations Committee (IFRIC) and the FASB/IASB Joint Transition Resource Group for Revenue Recognition.

Mr. Taub spent 6 ½ years as a Professional Accounting Fellow, Deputy Chief Accountant, and Acting Chief Accountant at the Securities and Exchange Commission (SEC). He played a key role in the implementation of the Sarbanes-Oxley Act, and was responsible for the day-to-day operations of the Office of the Chief Accountant, including resolution of accounting and auditing practice issues, rulemaking, oversight of private sector standard-setting efforts, and regulation of auditors. Mr. Taub represented the SEC before accounting standard-setters, the US Congress, and many other bodies. He also chaired the accounting committee of the International Organization of Securities Commissions (IOSCO).

Mr. Taub began his career with Arthur Andersen, where he spent 3 years in the Professional Standards Group, consulting with clients and developing interpretive guidance for Andersen on a wide variety of accounting and reporting issues, after 7 years as an auditor in the firm’s Detroit office.

Mr. Taub is the author of CCH’s Revenue Recognition Guide, a 600-page comprehensive guide to accounting for revenue recognition, and a co-author of CCH’s Financial Instruments guide. He was the primary author of several SEC reports and publications and wrote a periodic column for Compliance Week on financial reporting developments for nine years.

Jeffrey Hales
  • Chair
  • SASB Standards Board

Jeffrey Hales serves as the Chair of the 9-person Standards Board at Sustainability Accounting Standards Board (SASB). In his role as Chair, he oversees the agenda setting and due process associated with the SASB standards development and maintenance. Before serving on the Standards Board, he chaired the Standards Council for the SASB.

Jeffrey Hales teaches at the University of Texas at Austin, where he is the Charles T. Zlatkovich Centennial Professor of Accounting. He is a graduate of the accounting program at Brigham Young University and received his Ph.D. from Cornell University.

His research interests center on accounting standard setting and regulation, individual decision making, and behavioral finance, using techniques from applied game theory, experimental economics, and psychology. His research has appeared in The Accounting Review, Journal of Accounting Research, Journal of Accounting and Economics, Review of Accounting Studies, and the Journal of Financial Economics, among other journals. He currently serves as an editor for Contemporary Accounting Research. He also currently serves on the editorial boards of The Accounting Review and Accounting Organizations and Society.

During the 2009-10 academic year, Dr. Hales was a Research Fellow at the Financial Accounting Standards Board (FASB) in Norwalk, CT. In addition, he served as a member of the FASB’s Financial Accounting Standards Advisory Council from 2016-2019. He currently sits on the Climate Disclosure Standards Board and the Financial Reporting Council’s Future of Corporate Reporting Advisory Group.

Catherine Ide
  • Vice President, Professional Practice
  • Center for Audit Quality

Catherine Ide is the Vice President, Professional Practice at the Center for Audit Quality, where she leads and advances regulatory and policy strategies that promote the professional practice and audit quality agendas.

Previously, Ide served as Director of Audit at the global law firm of Fragomen, Del Rey, Bernsen & Loewy. In that role, she helped create the firm’s internal audit and compliance function. While at Fragomen, Ide developed and launched their global practice review audit plan to over 46 offices worldwide. Prior to Fragomen, Ide was in the audit practice at PwC for over 15 years, most recently as a Senior Manager in PwC’s Chief Auditor Network, providing auditing advice and technical guidance on auditing standards, policies, and methodologies at the local engagement level, particularly related to areas of internal and external inspection findings.

Ide is a Certified Public Accountant licensed in Virginia, and she holds a BS in accounting with special attainments in commerce from Washington & Lee University.
 

Joseph Bailey, CPA
  • Senior Accounting Analyst
  • Bloomberg Tax

Joseph Bailey is a Senior Accounting Analyst at Bloomberg Tax & Accounting, providing customers with research resources. He is a CPA and has worked for public and private corporations, and non-profits domestically and internationally managing financial and sustainable reporting, taxes, and investments.

Continuing Education

Credits:
1.2 CPE, 1.0 General COA
Practice Areas:
Field of Study: Accounting
Level:
Any
Production Date:
04/28/2020