DAY ONE
 
8:00 - 8:30 REGISTRATION AND CONTINENTAL BREAKFAST
 
8:30 - 9:45 CURRENT ACCOUNTING AND REPORTING “HOT BUTTONS” AND SEC ENFORCEMENT PERSPECTIVES
Obtain an up-to-the minute review of current activities at the SEC. Walk through significant staff interpretations that are critical to today’s financial reporting registrants. Walk through a broader range of material items that affect gains and losses. Additional topics covered include:
• Recent Enforcement Actions
1. The need to cooperate and what that means
2. Special investigations for audit committees
Accounting fraud has become one of the highest priorities of the Enforcement Division of the SEC. This session will include a discussion of the types of accounting deficiencies that have led to SEC enforcement actions and
examples of recent enforcement actions brought against officers and employees of public companies.
 
DANIEL L. ZELENKO, Partner, Crowell & Moring, (Former Branch Chief, U.S. Securities and Exchange Commission)
 
9:45 -10:00 Coffee Break
 
10:00 - 11:00 FAIR VALUE UPDATE
Financial Accounting Standard No. 157, Fair Value Measurement, took effect for calendar year companies with the start of the 2008 fiscal year. Find out how companies are trudging forward with implementation issues and the impact FAS 157 will have on your financial statements.
 
JADE SHOPP, Partner, Regulatory, & Capital Markets Consulting, Deloitte & Touche LLP
 
11:00 - 12:00 PREPARING FOR THE XBRL MANDATE
The Securities and Exchange Commission mandates the use of the XBRL (Extensible Business Reporting Language) format with documents filed with the SEC. Learn how to create XBRL tagged documents and use software to improve the reliability and consistency of data in your income statements, cash flow statements, and balance sheets. Walk away with a proactive approach to surviving and thriving in the new world of interactive data and financial reporting.
 
DIANE MUELLER, Vice President, New Market Development, JustSystems
 
12:00 - 1:00 Luncheon An informal opportunity to network and share strategies with the faculty and fellow attendees.
 
1:00 - 2:00 LATEST ISSUES IN SEC’S REVENUE RECOGNITION CASES
This important session focuses on the SEC’s enforcement emphases in the areas of revenue recognition and accounting misstatements. Learn about what the SEC looks for in prosecuting cases involving:
—channel stuffing
—round-tripping
—multiple element deal revenue acceleration
—excess reserves
Also, learn how the SEC has applied its 13-step guidelines regarding cooperation in real life revenue recognition cases.
 
JONATHAN A. SHAPIRO, Senior Partner, Wilmer Cutler Pickering Hale and Dorr LLP
 
2:00 - 3:15 REPORTING ON INTERNAL CONTROLS
This session will discuss developments in the area of internal control certification and the involvement of the external auditor. Topics covered will include:
• Developments in internal control certification and disclosure practices
• Understanding the standards for documentation and effectiveness testing Understanding the role of the external auditor and the scope and potential consequences of the external audit of internal control certification will also be discussed.
 
TONY KLAICH, Executive, Risk Services Group, Crowe Chizek and Company LLC
 
3:15 - 3:30 Refreshment Break
 
3:30 - 4:45 INTERNATIONAL FINANCIAL REPORTING STANDARDS UPDATE
Since foreign companies now essentially have the choice of IFRS or GAAP, pressure is mounting to let U.S. companies do the same. A number of major capital markets have targeted 2011 as a date to make the switch. Already practiced in countries around the world, find out how IFRS adoption might work and what you need to do today to prepare. Attend this session and gain a solid understanding of current international accounting and reporting
issues. Go back to your office prepared for the important domestic and international ramifications of International Accounting Standards.
 
PETER D. CHANT, Partner, Deloitte & Touche LLP
 
4:45 - 5:00 Q&A Session 
 
5:00 DAY ONE ADJOURNS

    
DAY TWO
 
8:30 - 9:15 KEYNOTE ADDRESS: FINANCIAL STATEMENTS OF THE FUTURE
Don’t miss this discussion of the current status of the joint IASB/FASB project on financial s tatement presentation. 
 
KIMBERLEY R. PETRONE, Senior Project Manager, Financial Accounting Standards Board (FASB)
   
9:15 - 10:15 FASB/EITF UPDATE
Catch up with recent major activities of the Financial Accounting Standards Board and significant issues that have been addressed by the Emerging Issues Task Force. Learn how such activities may effect your decisions in such
areas as:
• Accounting Changes and Error Corrections – Practical considerations in apply the FASB’s new guidance for
accounting changes and error corrections
• EITF Issues and FASB Staff Positions – with more EITF meetings and issues and more FSPs, learn which ones might be impacting your financial statements
  
STUART H. HARDEN, CPA, CFF, Managing Director, Hemming Morse, Inc. (Member of the Emerging Issues Task Force (EITF) of the FASB)
   
10:15 - 10:30 Coffee Break
   
10:30 - 11:30 ACCOUNTING FOR STOCK-BASED COMPENSATION – LATEST DEVELOPMENTS
Given FASB’s standard, find out how the rules impact your company. Since stock option expensing is mandatory, are other vehicles now more appealing? What are some of the alternatives to traditional stock options, how do they work, and how are they accounted for? Will the stock option continue to be the vehicle of choice or will another vehicle take its place? In this important session, find out the requirements and choices available to calculate option expensing, as you implement the standard and the impacts of alternative equity based compensation structures.
 
MARTY SOMELOFSKE, Principal, Deloitte Consulting LLP

11:30 - 12:30 THE SEC’S LATEST ISSUES AND EMPHASIS ON MD&A REGULATIONS
Take part in this in-depth look at current issues that affect your company’s MD&A from both a legal and accounting perspective. Tackle your most frequently encountered concerns such as:
• Areas Most Scrutinized by the SEC
• What You Should and Should Not Say in Terms of Forward-looking Information
• Safe Harbor Rules
• Events and Uncertainties
• SEC Advice Concerning Liquidity
• Capital Resources and Off-Balance Sheet Arrangements
• Critical Accounting SEC Policy Proposals
• Related Party Disclosure
 
DAVID S. STEUER, Partner, Wilson Sonsini Goodrich & Rosati
 
12:30 - 1:30 Luncheon An informal opportunity to network and share strategies with the faculty and fellow attendees.
 
1:30 - 2:30 FRAUD UPDATE
Recent developments suggest that the level of fraud risk facing many organizations has increased:
1. Globalization. As many organizations reach out around the world to source supplies from other countries, or to expand their sales in emerging markets, they may encounter complex risks for which they may not be prepared. These risks range from bribery and corruption to compliance with export controls and anti-money laundering
statutes to product quality risks that can endanger customers.
 
2. Economic downturn. The current slowdown in the economy can make it more difficult for executives and managers to achieve planned results. It is also putting more employees under personal financial pressure. Fraud specialists suggest that economic pressures increase the likelihood and the number of individuals resorting to fraud to achieve corporate objectives or to m eet personal needs.
 
3. Risk management surprises. From the mortgage crisis to the “rogue trader” cases, recent events suggest that even
organizations with risk management programs in place can be vulnerable to fraud. Some past assumptions about risk management and fraud risk assessments may now be obsolete. This session will discuss new fraud complexities and challenges, as well as provide insights into the benefits of fraud risk management.
 
DONNA EPPS, Partner, Forensic & Dispute Services, Deloitte Financial Advisory Services LLP
 
2:30 - 3:30 BUSINESS COMBINATIONS UPDATE
New rules for mergers and acquisitions are likely to have some far-reaching consequences for deal costs and how they get done. Get up-to-date on FASB’s Financial Accounting Standard No. 141R, Business Combinations, and FAS 160, Accounting for Noncontrolling Interests which take effect in fiscal 2009 for c alendar year-end companies.
 
PETER D. CHANT, Partner, Deloitte & Touche LLP
 
3:30 - 4:00 Q&A Session
 
4:00 CONFERENCE ADJOURNS