Natural disasters, in additional to the personal and physical damage they inflict, often also effect accounting and auditing matters for people and businesses in the wake of the destruction. It's important to be prepared for possibly having to apply parts of GAAP and GAAS differently due to changes in circumstances. With the recent landfall of hurricanes throughout the U.S. and its territories, now is the time to get clear on what you need to know.
In this presentation, Steven Morrison will guide you through the latest information so you can be best enabled to address the concerns of those in recent hurricane-affected areas and those who may face natural disaster in the future.
Steven Morrison, CPA, serves in National Assurance at CohnReznick, bringing experience as an engagement partner, quality control reviewer, and as a standard setter in a variety of industries, including automotive dealerships, employee benefit plans, freight forwarding/mail courier, retail, and wholesale/distribution. His experience encompasses effectively addressing unique accounting and audit issues of entities in the United States, Asia, Europe, Oceania, and the Americas. Steven addresses specific issues for companies in a variety of other industries and has extensive experience in effectively communicating simple and complex technical matters to all levels of personnel. His current responsibilities also include advising engagement teams on accounting and auditing matters.
From 2015 to 2018, he served on the American Institute of Certified Public Accountants’ (AICPA) Auditing Standards Board (ASB), a senior committee that promulgates U.S. Generally Accepted Auditing Standards. As a part of his responsibilities on the board, he served as the final chair of the going concern taskforce, which updated the going concern standard with SAS 132. He also served on the audit evidence taskforce, which is considering updates to AU-C 500, Audit Evidence, and other standards for issues such as blockchain and artificial intelligence.
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