AICPA conference. AICPA Employee Benefit Plans Accounting, Auditing and Regulatory Update

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1 AICPA conference AICPA Employee Benefit Plans Accounting, Auditing and Regulatory Update DECEMBER 7-8, 2009 Gaylord National Hotel & Convention Center on the Potomac National Harbor, MD Register by 10/23/09 SAVE $75! This important high-level update encompasses the issues, standards and current legislation surrounding employee benefit plan audits. Don t Miss: Department of Labor Update Planning an Effective and Efficient Audit Panel Discussion with conference speakers A Questioning Mind The proper approach to assessing audit evidence Hotel Reservation Cut-Off Date: 11/7/

2 AICPA EMPLOYEE BENEFIT PLANS ACCOUNTING, AUDITING AND REGULATORY UPDATE RECOMMENDED CPE CREDIT: 14 Learn about the latest issues and legal guidelines vital to the successful completion of year-end audits. Every year critical new accounting and auditing issues arise that require a thorough understanding of their effect on employee benefi t plans. In light of recent economic times, it has become even more important to be keenly aware of the latest standards and regulations and know what to expect in the upcoming audit season. The 2009 AICPA Employee Benefit Plans Accounting, Auditing and Regulatory Update is an important high-level conference that provides you with critical updates, new guidelines, and regulatory information to help you successfully execute year-end audits. HOT TOPICS: FASB Accounting Standards Codification structure FASB 157 facts Form 5500 Schedule C filing requirements Survival tips for audit planning INSIGHTS, UPDATES AND BEST PRACTICES You ll benefi t from having access to regulators and standard setters as well as timely insights from auditors who are currently practicing in the fi eld. You ll learn best practices and be able to apply them to your own audit planning. IMPORTANT INFORMATION FROM THE DOL Department of Labor experts from the Employee Benefi ts Security Administration (EBSA) will provide key information on enforcement and regulatory activities taking place today, and what you should expect in the near future. You ll be able to discuss complex auditing issues and problems directly with senior members of the DOL. BE PREPARED FOR UPCOMING AUDIT SEASON This conveniently-timed December conference will prepare you for the upcoming audit season, while you network with fellow practitioners, and leading industry experts throughout the event. Register today and be ready for tomorrow. WHO SHOULD ATTEND CPAs and fi nancial professionals who specialize in employee benefi t plan audits. For more information CALL VISIT

3 AICPA EMPLOYEE BENEFIT PLANS ACCOUNTING, AUDITING AND REGULATORY UPDATE GAYLORD NATIONAL HOTEL & CONVENTION CENTER Just minutes from Washington, DC, you ll experience world-class dining, shopping, and deluxe accommodations that offer sweeping views of the Potomac River, the Capitol, and Old Town Alexandria. Join friends in the exciting two-story rooftop Pose Ultra Lounge. Take advantage of our convenient shuttle service to Washington, DC or water taxi to Old Town Alexandria. Enjoy your visit. BENEFITS JUST FOR ATTENDEES! An Eco-Friendly and Paperless Initiative In an effort to be more environmentally friendly, cost conscious and forward-thinking, AICPA Meetings & Conferences is offering participants access to conference materials via a speaker materials website in advance of the conference. Aside from the environmental advantages, this initiative offers many benefits, including: Access to a wealth of session information prior to the conference which will help you customize your professional development needs More flexibility to offer additional and more valuable resources 24/7 availability of materials anywhere and anytime before and after the conference Elimination of a lot of materials. Less to carry, less to transport. Bring only what you need! *Conference manuals with session outlines will not be provided onsite *Be sure to supply a valid address when registering. Instructions to access the speaker materials [ are distributed via approximately two weeks prior to the start of the conference. Also, add service@aicpa.org to your safe sender list. Steering Committee Chair Robert Lavenberg, BDO Seidman, LLP, New York, NY Members AICPA Staff Marilee Lau, Retired Partner, KPMG LLP, San Francisco, CA Diane Marotta, Johnson Lambert & Co, LLP, Falls Church, VA Debbie Smith, Grant Thornton LLP, Oakbrook Terrace, IL Lara Stanton, BDO Seidman, LLP, New York, NY Michele Weldon, PricewaterhouseCoopers, LLP, Boston, MA Melinda Arndt, Hotel Logistics, Durham, NC Christine Cutti-Fox, Program Development, Durham, NC Shelly Desbois, Technical Manager, Washington, DC

4 Conference Agenda FIELDS OF STUDY A- ACCOUNTING AU- AUDITING SKA- SPECIALIZED KNOWLEDGE & APPLICATION T- TAX Topics and agenda are subject to change DECEMBER 7 MAIN CONFERENCE DAY ONE 7:00 am - 5:40 pm Registration & Message Center Open 7:00 am - 8:00 am Continental Breakfast 8:00 am - 8:15 am Welcome & Introduction Robert Lavenberg, BDO Seidman, LLP, New York, NY 8:15 am - 9:00 am Keynote Presentation 1 View from the DOL s EBSA: What To Expect in 2010 AU Phyllis C. Borzi, U.S. Department of Labor (EBSA), Washington, DC This session will feature Assistant Secretary Phyllis C. Borzi discussing EBSA s priorities for the upcoming year, including: 401(k) fees and transparency Investment advice Target date funds Pension funding relief/pbgc issues New EBSA regulatory initiatives 9:00 am - 9:45 am General Session 2 ACCOUNTING & AUDITING UPDATE A, AU Michele Weldon, PricewaterhouseCoopers LLP, Boston, MA Learn about the current and emerging employee benefit plan technical issues and activities of the AICPA Employee Benefit Plan Experts Panel. This session will include new pronouncements as well as auditing and reporting issues. 9:45 am - 10:15 am Morning Refreshment Break 10:15 am - 11:15 am General Session 3 DEPARTMENT OF LABOR UPDATE AU Ian Dingwall, U.S. Department of Labor (EBSA), Washington, DC Attendees of this session will learn: Everything CPAs need to know about current regulatory developments at the Department of Labor Details about the Department s audit quality inspection programs and what distinguishes work that is considered to be best practice Which pitfalls most often plague benefit plan audits and result in rejection of Form 5500 filings About the Department s new audit and reporting requirements for 403(b) plans 11:15 am - 12:30 pm General Session 4 AVOIDING TAX ANNOYANCES T Jason Russell, Deloitte Tax LLP, San Francisco, CA Diane Wasser, Amper, Politziner & Mattia, LLP, Bridgewater, NJ The notes accompanying each set of benefit plan financial statements state that... the plan is tax-exempt and thus no provision is made in the plan s financial statement for income taxes. Auditors must consider many issues in support of that disclosure. This interactive session will explain commonly noted tax issues to a non-tax audience as well as discuss tax issues raised by the audience. Topics include: Financial statement implications of plan operational errors Unrelated business taxable income Register by 10/23/09 SAVE $75!

5 AICPA EMPLOYEE BENEFIT PLANS ACCOUN 12:30 pm - 1:15 pm Luncheon 1:15 pm - 1:30 pm Luncheon Presentation L1 AUDIT QUALITY CENTER UPDATE AU Marilee Lau, Retired Partner, KPMG LLP, San Francisco, CA This session will cover the activities of the AICPA Employee Benefit Plan Audit Quality Center, upcoming events as well as any current developments. 1:40 pm - 2:55 pm General Session 5 PLANNING AN EFFECTIVE AND EFFICIENT AUDIT AU Diane Marotta, Johnson Lambert & Co. LLP, Falls Church, VA Lara Stanton, BDO Seidman, LLP, New York, NY A well planned audit is the key to an efficient audit. In this session we will highlight best practices in the significant areas of the planning and risk assessment process, including: Understanding the plan and its provisions Evaluating internal controls, both at the plan sponsor and outside service providers Identifying significant risks, including fraud risks Developing your testing strategy Communicating with the client, their service providers, and within the engagement team We will also discuss survival tips for the planning and risk assessment process when not everything goes according to plan. 2:55 pm - 3:25 pm Afternoon Refreshment Break 3:25 pm - 4:40 pm General Session 6 PREPARE FOR THE NEW SCHEDULE C AU Scott Albert, U.S. Department of Labor (EBSA), Washington, DC Erik Pienkos, Grant Thornton LLP, Oakbrook Terrace, IL The Department of Labor has made significant changes to the Form 5500 (including the requirement that the form will need to be filed electronically). In this session the presenters will navigate attendees through some of the Form 5500 changes and the new Schedule C. They will also offer a general description of some of the fees and expenses often associated with investment funds and how they are to be reported on the new Schedule C. 4:40 pm - 5:40 pm General Session 7 A QUESTIONING MIND SKA Marilee Lau, Retired Partner, KPMG LLP, San Francisco, CA James Merklin, Bober, Markey, Fedorovich & Co., Akron, OH Debbie Smith, Grant Thornton LLP, Oakbrook Terrace, IL Professional skepticism is an attitude that includes a questioning mind and a critical assessment of audit evidence. The auditor should conduct the engagement with a mindset that recognizes the possibility that a material misstatement due to fraud could be present, regardless of any past experience with the entity and regardless of the auditor s belief about management s honesty and integrity. This session will delve into how to have the proper questioning mind. 5:40 pm - 6:40 pm Welcome Reception For more information CALL 1.88

6 NTING, AUDITING AND REGULATORY UPDATE DECEMBER 8 MAIN CONFERENCE DAY TWO 7:30 am - 1:15 pm Registration & Message Center Open 7:30 am - 8:30 am Continental Breakfast 8:30 am - 9:30 am General Session 8 INVESTMENT HOT TOPICS AND FAIR VALUE A, AU John Hubbe, KPMG LLP, New York, NY Michele Weldon, PricewaterhouseCoopers LLP, Boston, MA This session will cover audit, accounting and reporting issues relating to the recent investment trends in employee benefit plans. The session will include hot topics surrounding employee benefit plan investments including FAS 157 updates, FAS 161 and other new guidance. 9:30 am - 10:15 am General Session 9 FASB CODIFICATION A Jeffrey Mechanick, Financial Accounting Standards Board, Norwalk, CT This session will orient participants to the FASB Accounting Standards Codification, the topically organized, electronically searchable database that is now the single source of all authoritative U.S. GAAP. While the session presumes no previous experience in using the Codification, those who have begun to use it should feel free to bring their questions! The presentation will focus on: The structure of the Codification Its relationship to the previous standards issued by FASB, AICPA and the EITF The search tools and other key features of the Codification How the Codification (and thus U.S. GAAP) is being updated through ongoing FASB standard-setting activities 10:15 am - 10:35 am Morning Refreshment Break 10:35 am - 11:50 am General Session 10 AUDITING 403(B) PLANS AU Scott Albert, U.S. Department of Labor (EBSA), Washington, DC Robert Lavenberg, BDO Seidman, LLP, New York, NY 403(b) plans that are subject to ERISA are now required to complete the entire Form Large plans will include Schedule H and the accompanying audited financial statements. Many plan sponsors will be challenged in collecting complete participant and financial data for their plans. This will also be a challenge for the independent auditor in approaching and completing their audits. We will discuss: Who the requirements apply to What data needs to be collected What are the data collection and audit challenges and how to address them Current developments 11:50 am - 1:15 pm General Session 11 SPEAKER PANEL DISCUSSION A, AU Ian Dingwall, U.S. Department of Labor (EBSA), Washington, DC Robert Lavenberg, BDO Seidman, LLP, New York, NY Jason Russell, Deloitte Tax LLP, San Francisco, CA Michele Weldon, PricewaterhouseCoopers LLP, Boston, MA Conference speakers will return to provide practical and helpful answers to your specific questions in this interactive session. 1:15 pm Conference Adjourns VISIT

7 Registration 4 WAYS TO REGISTER FAST ONLINE*: PHONE*: or FAX*: or MAIL: Complete and mail the form along with your promotion code to: AICPA Member Service Center, Conferences, 220 Leigh Farm Road, Durham, NC *Credit card registration only (AICPA VISA, American Express, Diners Club, Discover, MasterCard or VISA )or VISA ) RECOMMENDED CPE CREDIT 14 This conference was prepared in accordance with the Joint AICPA/NASBA Statement on Standards for Continuing Professional Education (CPE) Programs effective on January 1, The recommended CPE Credits are in accordance with these standards; however, your individual state board is the final authority on the acceptance of programs for CPE credit. CONFERENCE FEE Registration fees are determined by current membership status in the AICPA. Please indicate member number on the registration form to obtain the correct discount. Conference fee includes all sessions, conference materials, continental breakfasts, refreshment breaks, luncheons and a reception. Registration for 2 or more individuals per firm may qualify for group discounts; additional savings may be available for groups of 10 or more. For more information please aicpalearning@aicpa.org and indicate Group Conference Sales in the subject line or phone , choose option 1. Program Code: EMPAARU09 CANCELLATION POLICY You may cancel without penalty if written cancellation requests are received by October 23, Due to financial obligations incurred by the AICPA, a credit voucher less 50% of the registration fee will be issued for written requests received by November 16, No refunds or credits will be issued on cancellation requests received on or after November 17, For further information, call the AICPA Service Center at HOTEL AND GROUND TRANSPORTATION INFORMATION Contact the hotel directly to obtain their policy on reservations, deposits and cancellations. Rooms will be assigned on a spaceavailable basis only. Note, this conference is expected to sell out, so please make hotel arrangements as soon as possible. To receive our special group rates mention that you will be attending the AICPA Employee Benefit Plans Accounting, Auditing, Regulatory Update. Gaylord National Resort & Hotel Phone: Convention Center on the Potomac Hotel Reservations: Waterfront Street Hotel Room Rate: $219 single/double + $15 Resort Fee National Harbor, MD Hotel Reservation Cutoff Date: November 7, 2009 Ground Transportation to and from the hotel and airport (please note, rates and times are approximate) Taxi Service: From Reagan National, $20 one way, 30 minutes. From Dulles, $55 one way, 50 minutes. From BWI, $65 one way, 1 hour. Shuttle: From Reagan National Airport: $18 one way; $32 round trip. From Dulles, $43. From BWI, $43. Hotel Parking: $19 self or $28 valet per day for hotel guests. AIRLINE AND TRAIN INFORMATION The AICPA has a special arrangement with Maupin Travel, Inc. of North Carolina to assist you with your travel arrangements. This travel agency may be reached at If you prefer to make your own travel plans, be sure to mention the participating airline s reference number (listed below) to take advantage of deeply discounted Zone Fares that do not require a Saturday night stay-over. Discounts are valid for round trip registered AICPA meetings or conferences only. Some restrictions may apply. American Airlines Index #19956 United Airlines Refer to Meeting ID #531SI For up-to-date airline information regarding special travel discounts, please visit Due to recent airline industry fare restructuring, we cannot guarantee that the above group travel agreements will be in effect at the time when you are making your travel arrangements. Please contact the airline and/or your travel agency for latest applicable discounts and arrangements. The AICPA has also arranged for special discounts on AMTRAK along the Northeast Corridor. Please call AICPA s Travel Services Desk to make reservations: CAR RENTAL Hertz Car Rental AICPA Member Discounts: Call Ref. Code CV#021H0016. Airline, train and car rental discounts are available only when you or your travel agent book through the 800 number. We strongly advise you to confirm your conference registration and hotel reservation prior to making your travel plans. The AICPA is not liable for any penalties incurred if you cancel/change your airline reservations. Rates are subject to availability. EXHIBIT AND SPONSORSHIP OPPORTUNITIES Don t miss the opportunity to present and sell your organization s services and products to thousands of CPAs and financial professionals at AICPA conferences. For detailed information on conference exhibit and sponsorship opportunities, please send your to exhibit@aicpa.org. Register by 10/23/09 SAVE $75!

8 AICPA conference SAVE $75 REGISTER BY 10/23/09 AICPA/CPA2Biz 220 Leigh Farm Road Durham, NC PRSRT-STD U.S. POSTAGE PAID AICPA/CPA2BIZ AICPA Employee Benefit Plans Accounting, Auditing, Regulatory Update MEMBERSHIP INFORMATION Very important please be sure to complete. AICPA Member? Yes No NICKNAME FOR BADGE BUSINESS TELEPHONE TITLE Membership No. (Required for discount prices) CONFERENCE FEES Please circle appropriate rate. MAIN CONFERENCE (EMPAARU09) AICPA Member Non-member Early Bird Registration $750 $1,050 SAVE $75 by 10/23/09 Regular Registration $825 $1,125 Total $ $ PAYMENT INFORMATION Full payment must accompany registration form. My check for $ payable to AICPA is enclosed. OR Please bill my credit card for $. AICPA VISA Credit Card American Express Diners Club Discover MasterCard VISA If you don t presently have an AICPA VISA Credit Card, please call 866.CPA.VISA for more information or to apply for the card. CARD NO. EXP. DATE ADDRESS BILLING NAME SIGNATURE REGISTRATION INFORMATION Please photocopy this form for additional registrants. If the information on your label is incorrect, please complete the following: Customer No. Promotion Code LAST NAME FIRST NAME MI FIRM NAME OR AFFILIATION STREET ADDRESS SUITE PO BOX CITY STATE ZIP In accordance with the Americans with Disabilities Act, do you have any special needs? Yes No (If yes, you will be contacted.) 09CPA-237 EMPAARU