ACI’s Jay Gettenberg to Appear on July 30, 2020 “Accounting and Auditing in COVID Times” Teleconference
ACI Managing Partner, Jay Gettenberg, will participate in a broker-dealer tech session teleconference on July 30, 2020 to discuss the regulatory accounting and auditing issues that arose from the coronavirus pandemic.
The six-person “Accounting and Auditing in COVID Times” panel, sponsored by the Foundation for Accounting Education, will examine how the pandemic affected industry practices, including financial statement reporting and auditing disclosures, goodwill impairment, PPP and loan forgiveness, regulatory communications, FINRA oversight, and more. The discussion is designed to provide both FinOps and auditors with recent updates that will assist broker-dealers with the preparation and audit of their books and records, specifically related to COVID and SBA loans.
ACI will will share practical lessons learned while helping over 50 broker-dealer clients navigate the SBA-backed Paycheck Protection Program (PPP), including how to ensure a borrower meets the loan forgiveness requirements. ACI has worked over the recent months to both secure PPP loans and to maximize the benefits of PPP loan forgiveness for dozens of FINRA member firms. ACI’s clients are on track to formally complete all SBA loan forgiveness forms over the coming months, enabling them to be free and clear of the PPP process.
Other topics the panel may address include tax implications for single-member LLCs, effective dates of new standards and their impact on broker-dealers and the latest news from the SEC, FINRA and the PCAOB.
The two-hour teleconference will start at 10 a.m. EST on July 30. Attendees can receive one Auditing (NYSED) and one Accounting (NYSED) CPE credit. For more details and to register, click here: https://cpe.nysscpa.org/product/31905