What you missed at the 2020 AICPA Conference

The 2020 AICPA Conference on Current SEC and PCAOB Developments included content focused on how all participants in the financial reporting ecosystem have a shared objective. Join Heather Horn, Valerie Wieman, and Kyle Moffatt as they discuss key takeaways from this year’s conference.Topics include:0:51 - Background and overall themes. Val kicks off our discussion giving some background on this year’s virtual conference, touching on the format and attendees.1:54 - The search for fraud. Kyle discusses the SEC’s Enforcement Division’s initiatives intended to identify industry outliers and fraud. 9:47 - SEC update. Kyle and Val provide the highlights from the SEC sessions, including new rules, comment letter trends, the technical topics covered in staff speeches, as well as a summary of which amendments can be applied now, and which need to wait until 2021. 15:21 - FASB update. Val highlights the findings from the FASB’s in process post implementation reviews of the credit losses standard and updates us on the debate over the goodwill project.  19:35 - COVID-19 update. COVID-19 was addressed in nearly all sessions. Val fills us in on the details.  21:58 - The future of the profession. We wrap up sharing the conference’s overarching theme on the importance of diversity and technology upskilling.Valerie Wieman is the National Office Editor-in-chief. She manages the creation, development, and publication of our brand-defining thought leadership. She is also responsible for Viewpoint, our new digital information platform. Kyle Moffatt is a partner in PwC's National Office where he consults with engagement teams and audit clients on SEC reporting matters. He joined PwC in April 2020 after spending almost 20 years with the SEC, most recently as Chief Accountant and Disclosure Program Director in the Division of Corporation Finance.Heather Horn is PwC’s National office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series, as well as periodic webcasts for the power and utilities industry. With over 25 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.Transcripts available upon request for individuals who may need a disability-related accommodation. Please send requests to [email protected].