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Preparing and Executing the Initial Audit After Transition to ASC 842

PREPARING AND EXECUTING THE INITIAL AUDIT AFTER TRANSITION TO ASC 842

This webinar is for audit and assurance professionals with clients who have either already adopted or plan to adopt ASC 842.
Cost Free
Presentation Length 1.0 hour

Recorded DateApril 25, 2023
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaAuditing
Course LevelBasic
Course Description

Join panelists from LeaseQuery, Baker Tilly, and Grant Thornton for a roundtable discussion and presentation focused on the audit experience thus far for private clients who have recently adopted ASC 842. The presenters will discuss strategies for each phase of the audit cycle: planning, assessing risks, testing, and reporting. They will also gauge lessons learned and attempt to uncover how auditors can communicate more effectively in helping clients prepare for compliance as well as prepare for a more efficient audit experience. 

Learning Objectives: 


  • Summarize the importance of effective audit prep work 

  • Recognize the principal risks and mitigating controls associated with lease accounting 

  • List ways to test leases more efficiently 

  • Define client preparation methods to ensure clients provide an auditable set of transactions

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Finquerylogo

Jason Parker is an Solutions Engineer at FinQuery. Prior to joining FinQuery, Jason worked in the audit practice at KPMG, serving clients in both the public and private sectors in a wide array of industries. Jason obtained the “Double Dawg” status at the University of Georgia, receiving both a Bachelors’s degree and a Master’s degree in Accounting. He is an active Certified Public Accountant and a current member of the AICPA.

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Bill Bishop is a partner in Audit Services and a member of the Consumer and Industrial Products practice. He provides audit services to a diverse industry group. He assists clients with the implementation of complex accounting issues, specializing in business combinations and purchase accounting. Bishop also has participated in multiple IPOs both as an auditor and consultant.

Bakertilly

Jonathan is a partner with Baker Tilly US, LLP. Jonathan manages audit, review, and compilation services as well as client relationships. He serves clients in a variety of industries such as manufacturing, distributing, and franchisors.

Jonathan has a deep knowledge of and experience in technical accounting issues. He uses his well of knowledge to assist and advise his clients on internal controls and guides and consults with them on their company’s financial performance.

About Our Presenter

Finquerylogo
FinQuery, formerly LeaseQuery, empowers 36,000+ professionals to optimize decisions in their top spending areas—leases, software subscriptions, and financial contracts—setting them apart in the market. Their award-winning AI-driven software minimizes risk, boosts efficiency, and cuts costs. Explore FinQuery’s Platform for contract and spend intelligence, including solutions for contract management, specialized accounting ensuring compliance with ASC 842, IFRS 16, GASB 87 and GASB 96, and software management.