2017

Press Release


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Contact(s):

Shirley Twillman
202.434.9220
Shirley.twillman@aicpa-cima.com

FASB Standards on Credit Losses, Leases and Hedging To Be Discussed At AICPA National Conference on Banks and Savings Institutions 

FASB Board Member, SEC Chief Accountant among Speakers 
Published August 23, 2017

  • Gain insights on interpretive issues around FASB’s credit losses standard
  • Get tips about how to implement the new lease accounting standard
  • Learn about key changes to the hedge accounting model under FASB’s final hedging standard
  • FASB Board Member gives update on FASB projects applicable to financial institutions, including implementation of the Current Expected Credit Loss (CECL) standard
  • SEC Chief Accountant offers update about accounting, financial reporting, internal control and other matters impacting the banking industry  
  • Federal Reserve Board, FDIC and OCC Chief Accountants discuss latest accounting and reporting developments
  • PCAOB official gives update on proposed audit standards and discusses common inspection findings applicable to audits of financial institutions
  • Fannie Mae Chief Economist evaluates the state of the U.S. economy and the housing market

WHEN:

  • Monday, Sept. 11 – Wednesday, Sept. 13, 2017

WHAT:

  • AICPA National Conference on Banks and Savings Institutions

WHERE:

  • Gaylord National Resort and Convention Center, 201 Waterfront Street, National Harbor, Md.
    *Reporters are also invited to cover any of the conference sessions in real time via the Internet.

WHO:

  • FASB:
    Hal Schroeder, Board Member, Financial Accounting Standards Board (FASB), Norwalk, Conn.
  • SEC: Wesley R. Bricker, Chief Accountant, U.S. Securities and Exchange Commission (SEC), Washington, D.C. John Nolan, Senior Assistant Chief Accountant, SEC, Washington, D.C. Stephanie Sullivan, Senior Technical and Policy Advisor, SEC, Washington, D.C.
  • Federal Reserve Board, FDIC and OCC: Joanne Wakim, Chief Accountant, Federal Reserve Board, Washington, D.C. Robert F. Storch, Chief Accountant, Federal Deposit Insurance Corporation (FDIC), Washington, D.C. Louis A. (Rusty) Thompson, Deputy Comptroller and Chief Accountant, Office of the Comptroller of the Currency (OCC), Dallas, Texas
  • PCAOB: Glenn Tempro, Associate Director, Division of Registration and Inspections, Public Company Accounting Oversight Board (PCAOB), Washington, D.C.
  • Fannie Mae: Douglas Duncan, Senior Vice President and Chief Economist, Fannie Mae, Washington, D.C.

 

Monday, September 11, 2017

8:15am – 8:30am         Welcome and Introductory Remarks, Sydney Garmong, Conference Chair, Partner, Crowe Horwath LLP, Washington, D.C.

8:30am – 9:45am         Economic Outlook, Marci Rossell, Co-Host of Squawk Box and former CNBC Chief Economist, Washington, D.C.

 
9:50am – 10:20am       SEC Updates from the Chief Accountant, Wesley R.  Bricker, Chief Accountant, SEC, Washington, D.C

10:40am – 11:55am     FASB Update: Board Member Perspective, Hal Schroeder, Board Member, FASB, Norwalk, Conn.; Shayne Kuhaneck, Assistant Director, FASB, Norwalk, Conn.   

 

11:55am – 12:55pm    Lunch (no luncheon speaker)

 

12:55pm – 2:10pm      Concurrent Sessions

·         Rising Rates are here Again: Time to Celebrate or Danger Ahead? Frank Farone, Managing Director, Darling Consulting Group, Newburyport, Mass.

·         SEC Office of the Chief Accountant and Corporation Finance Panel, Rachel Mincin, Associate Chief Accountant, Office of the Chief Accountant, SEC, Washington, D.C.; Stephanie Sullivan, Senior Technical and Policy Advisor, SEC, Washington, D.C.; John Nolan, Senior Assistant Chief Accountant, Division of Corporation Finance, SEC, Washington, D.C.

 

2:20pm – 3:35pm        Concurrent Sessions

·         Performance and Outlook for Banks Nationwide, Christopher Marinac, Director of Research, FIG Partners LLC, Atlanta, Ga.

·         PCAOB Update, Glenn Tempro, Associate Director, PCAOB, Washington, D.C.

·         Data Breach Preparedness and Litigation, Nikole Davenport, Senior Manager, Deloitte LLP, Atlanta, Ga.; Andrew Morrison, Principal, Deloitte LLP, Atlanta, Ga.

 

4:05pm – 5:20pm        Concurrent Sessions

·         ERM Current Best Practices, James Burke, President and Chief Risk Officer, Community Bank of the Chesapeake, Waldorf, Md.; Randy Marsicano, Senior Manager, Wolf & Company, P.C., Boston, Mass.

·         Developing Fair Value Estimates, John Holmes, Director, Financial Markets, PwC, Washington, D.C.; Chris Merchant, Partner, PwC, Washington, D.C.

·         Tax Update for Financial Institutions, David Thornton, Partner, Crowe Horwath LLP, New York, N.Y.

·         Leases – Textbook Series with a Focus on Implementation Issues, Kerrie Cadugan, Executive Director, EY, New York, N.Y.;  Lew Engel, Managing Director, Accounting Policy, Citigroup, New York, N.Y.

 

Tuesday, September 12, 2017

 

7:30am – 8:20am         Concurrent Sessions

·         Ethics Update, Ellen Goria, Senior Manager Independence and Special Projects, Association of International Certified Professional Accountants, Durham, N.C.

·         Expected Loss Quantification: Factors that Will Move the Needle, Anna Krayn, Senior Director, Risk and Accounting Services, Moody’s Analytics, New York, N.Y.;   Maria Muzyka, Senior Director, Moody’s Analytics, New York, N.Y

·         Evaluating the Credit Mark in Mergers and Acquisitions and Capital Raise Scenarios, David Ruffin, Director – Credit Risk Management, Dixon Hughes Goodman LLP, Raleigh, N.C.; Robin Sawyer, Partner, Dixon Hughes Goodman LLP, Atlanta, Ga.

·         Changes to the Variable Interest Model, Graham Dyer, Partner, Grant Thornton, Chicago, Ill.

 

8:30am – 8:35am         Chair Remarks, Sydney Garmong, Conference Chair, Partner, Crowe Horwath LLP, Washington, D.C.

8:35am – 9:25am         Creating a Culture of Courage, Cindy Solomon, President and CEO, CSA, Inc., San Francisco, Calif.

 

9:30am – 11:10am       Federal Banking Agencies Chief Accountant Panel, Robert F. Storch, Chief Accountant, FDIC, Washington, DC; Louis A. (Rusty) Thompson, Deputy Comptroller and Chief Accountant, OCC, Dallas, Texas; Joanne Wakim, Chief Accountant, Federal Reserve Board, Washington, D.C.  

 

11:30am – 12:20pm    Federal Banking Agencies Chief Accountant Panel Q&A, Robert F. Storch, Chief Accountant, FDIC, Washington, DC; Louis A. (Rusty) Thompson, Deputy Comptroller and Chief Accountant, OCC, Dallas, Texas; Joanne Wakim, Chief Accountant, Federal Reserve Board, Washington, D.C.  

 

12:20pm – 1:20pm      Lunch (no luncheon speaker)

 

1:20pm – 2:35pm        Interpretive Issues: FASB Credit Losses Standard, Frederick (Chip) Currie, Partner, PwC, Florham Park, N.J.; Sydney Garmong, Partner, Crowe Horwath LLP, Washington, D.C.; Mario Mastrantoni, Director of Accounting Policy, Wells Fargo, Charlotte, N.C.; Raj Mehra, CFO, Chelsea Advisory Services, McLean, Va.; Mark Northan, Partner, KPMG LLP, New York, N.Y

 

3:05pm – 4:20pm        Concurrent Sessions

·         Cyber for Community Banks, Joseph Gaglio, Principal, Deloitte LLP, Detroit, Mich.; Nathan Prather, Advisory Managing Director, ATR, Cincinnati, Ohio

·         Best Practices in Preparing a Fraud Risk Assessment / Internal Audit, Scott Baranowski, Director – Internal Audit, Wolf & Company, P.C., Boston, Mass.; Mark Matulich, Supervisory Special Agent, Complex Financial Crimes Unit, Federal Bureau of Investigation, Washington, D.C.

·         Hedging Project, Nicholas Milone, Partner, PwC, New York, N.Y.; Aaron Netten, Accounting Policy Manager, Wells Fargo, Minneapolis, Minn.; Hillary Salo, Partner, KPMG LLP, New York, N.Y.

·         Accounting and Economic Basics of Shared Based Payment Arrangements, John Gallagher, Executive Director, Financial Accounting Advisory Services, EY, New York, N.Y.; Kristine Oliver, Managing Director, Pearl Meyer, Wellesley, Mass.; Michael Tovey, Head of Accounting Policy, Bank of America, Charlotte, N.C.

 

4:30pm – 5:20pm        Concurrent Sessions         

·         Community Banks Hot Topics, Sydney Garmong, Partner, Crowe Horwath  LLP, Washington, D.C.; Jeff Geer, Associate Chief Accountant, Office of the Comptroller of the Currency, Washington, D.C.; Michael Lundberg, Partner, RSM US LLP, Minneapolis, Minn.; Todd Sprang; Principal, CliftonLarsonAllen, LLP, Oak Brook, Ill.

·         Ask the Experts Panel – Large Banks, Chris Ackerlund, Senior Vice President, Bank of America, Charlotte, N.C.; Linda Bergen, Director, Citigroup Inc., Long Island City, N.Y.; Bret Dooley, Managing Director, JP Morgan Chase, New York, N.Y.; Richard Juntilla, Accounting Policy Director, US Bank, Minneapolis, Minn., Mario Mastrantoni, Director of Accounting Policy, Wells Fargo, Charlotte, N.C.

 

Wednesday, September 13, 2017

 

7:30am – 8:20am         Concurrent Sessions

·         Update on AICPA Board Projects, Wynne Baker, Partner in Charge of Banking, KraftCPAs PLLC, Nashville, Tenn.

·         Bridging the GAAP: How to Implement the New Lease Accounting Standard, James Medeiros, Principal, CrossCountry Consulting, New York, N.Y.; Kati Penney, Partner, CrossCountry Consulting, McLean, Va.  

·         Tackling CECL with a Holistic Approach – So Much More than Models and Calculations, John Lankenau, Senior Vice President, Product and Operations, SS&C Primatics, McLean, Va.

·         The Impact on Financial Institutions from FASB’s Targeted Improvements to Accounting for Hedging Activities, Todd Cuppia, Managing Director, Chatham Financial, Kennett Square, Penn.; Eri Panoti, Director, Accounting Advisory, Chatham Financial, Kennett Square, Penn.

8:30am – 8:35am         Chair’s Closing Remarks, Sydney Garmong, Conference Chair, Partner, Crowe Horwath LLP, Washington, D.C.

 

8:35am – 9:50am         Legislative/Regulatory Update in the New Administration, H. Rodgin Cohen, Senior Chairman, Sullivan & Cromwell LLP, New York, N.Y.

 

9:55am – 11:10am       Housing and Economic Update, Douglas G. Duncan, Senior Vice President and Chief Economist, Fannie Mae, Washington, D.C.

 

11:40am – 12:55pm    CECL Observations from Early Implementation Efforts, Balvinder Sanga, Principal, EY LLP, McLean, Va.; Julie Harris, Managing Director, Enterprise Credit Data, Allowance and Reporting Risk Executive, Bank of America, Charlotte, N.C.; John Gallagher, Executive Director, Financial Accounting Advisory Services, EY LLP, New York, N.Y.  

 

12:55pm – 1:55pm      Lunch (no luncheon speaker)

 

1:55pm – 3:10pm        Concurrent Sessions         

·         CECL for Community Banks, James Brannen, Executive Vice President, CFO and Senior Loan Officer, Federal Savings Banks, Dover, N.H.; Michael Gullette, Vice President, Accounting and Financial Management, American Bankers Association, Washington, D.C.; Chad Kellar, Partner, Crowe Horwath LLP, Indianapolis, Ind.

·         Technology in Banking, Eric Piscini, Partner, Deloitte LLP, Atlanta, Ga.; Sidhur Rajan, Principal, Deloitte LLP, New York, N.Y.

 

3:20pm – 4:35pm        Concurrent Sessions

·         Revenue Recognition, Michael Hall, Partner, KPMG LLP, New York, N.Y.; Lee Keel, Accounting Policy Manager, Wells Fargo, Charlotte, N.C.; Lisa Koehl, Executive Director, JPMorgan Chase & Co., Chicago, Ill.; Esther Mills, President, Accounting Policy Plus, New York, N.Y.

·         ICFR (Including Evaluating Material Weaknesses), Michelle Donahue, Managing Director, Deloitte LLP, Stamford, Conn.; Kristine Obrecht, Audit Partner, Deloitte LLP, Milwaukee, Wis.

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