Current Challenges and Key Risks in Financial Reporting

6 Credits: Accounting
Event Date: August 5, 2021 7:30 am


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Current Challenges and Key Risks in Financial Reporting

Course Level
CPE Credits

6 Credits: Accounting
Event Date: August 5, 2021 7:30 am

Course Description

Businesses are recovering from a level of disruption without parallel since WW2. Recovery has opened up opportunities for some while forcing others companies to confront unprecedented challenges to ongoing operations. The course provides participants with an overview of recent developments in the areas of corporate reporting, risk management, controls, and compliance. Coverage will be updated throughout the year to reflect emerging trends and issues. Other topics covered include issues faced by public and private companies and the CPAs who serve them.

Note: Content will be geared to the interests of the audience with topics chosen on the day by participants.

  • Economic and business outlook for 2021 and 2022
  • The growing power of digitization and the virtual economy
  • Regulatory update: SEC, PCAOB, AICPA, etc.
  • Creating corporate resilience: practical tools and business applications
  • Data breaches and privacy: implications for CFOs
  • Cybersecurity: regulatory and reporting developments
  • Data analytics: what is it? Who is using and with what success?
  • How will 5G revolutionize real and digital businesses?
  • Global economic relations and supply chains in a post-pandemic world.
  • Sustainability and ESG reporting, Where are we headed?
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Learning Objectives

Upon successful completion of this course, participants will be able to:

  • List opportunities and risks businesses will confront in the coming 12-18 months.
  • Identify the major threats to US prosperity and economic growth.
  • Learn practical tools to measure company resilience in the face of ongoing threats.
  • List PCAOB and SEC’s concerns with the current state of financial reporting
  • Identify current accounting, compliance, and legal standards for reporting and disclosing data breaches.
  • Explain how recently enacted privacy rules will affect companies’ compliance and disclosure obligations.
  • Explain how data analytics are reshaping company strategies and the role of finance in the digital transformation of business.
  • Understand how the race to 5G will affect our US global competitiveness.
  • Understand how evolving global economic relationships are affecting US companies.
  • List the major components of sustainability reporting and describe the major challenges to providing ESG information.
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Course Specifics

Course ID

Experience in Financial Reporting

Advanced Preparation

Experience in Financial Reporting

Compliance Information

NASBA Provider Number: 103220
CFP Provider Number: 3199
CFP Course Number: 292835

CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

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