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FALLS CHURCH

48 TH ANNUAL VIRGINIA ACCOUNTING & AUDITING CONFERENCE

FALLS CHURCH MARRIOTT FAIRVIEW PARK

SEPTEMBER 27–28, 2018

HOTEL ROANOKE & CONFERENCE CENTER

OCTOBER 1–2, 2018

HILTON NORFOLK THE MAIN

NOVEMBER 15–16, 2018

CO PRESENTED BY:

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KEEP CPA BUSINESSES THRIVING The Virginia Society of CPAs (VSCPA) advocates on behalf of all Virginia CPAs, because we value you and the esteem the CPA license holds. When you contribute to the Virginia Society of CPAs Political Action Committee (VSCPA PAC), your voice joins thousands of Virginia CPAs, ensuring that you are heard at the Virginia General Assembly. Contribute to the VSCPA PAC today.

Virginia Society of Certified Public Accountants Political Action Committee

48 th Annual Virginia Accounting & Auditing Conference Housekeeping List NEW! Online Verification of Attendance Form • You should have received an email with a link to the conference verification of attendance form. It is also available in the VSCPA Events Mobile App, and you’ll receive another email with the link upon completion of the conference. • Mark all conference sessions that you attended and the form will automatically calculate the number of minutes. If you only attended part of a session, please indicate the number of minutes you attended. • Make sure to enter your name, email address and phone number. • You will receive a CPE certificate via email from the VSCPA within three weeks of the conference. • If you need help with this new electronic process or have questions, please visit the registration desk or contact the VSCPA at cpe@vscpa.com or (800) 733-8272. Materials • All presentations are subject to change. • Any updated presentations will be added to the conference e-materials link within a week of the event. Evaluations • A link to the conference evaluation will be sent at the conclusion of the conference to the email address you provided at registration. • Notes pages have been provided in the back of your packet for keeping track of sessions and presenters. Connect Community • Connect ( http://connect.vscpa.com ), the VSCPA’s members-only online community, has a special community for all conferences. All member attendees are automatically included in the community. See who else is attending the conference and connect with each other before and after the event. • Conference presentations, electronic materials and other relevant documents will be loaded to the conference community within a week of the conference. • Use the discussion board of the event community to communicate with your fellow attendees on session topics, speakers and conference highlights. Social Media • If you’re on Twitter, use the hashtag #VSCPA to tweet about your conference experience. And follow us @VSCPANews • If you’re on Instagram, use the hashtag #VSCPA to tag us in your event pictures.

Falls Church Marriott Fairview Park September 27-28, 2018 Day 1 - Schedule

6:30 – 8:00 am Registration & Continental Breakfast OPENING

Presiding: Lynn Almond, CPA, Department of Accounting & Information Systems, Virginia Tech

Session

Day/time 8:00 am 8:50 am 8:55 am 9:45 am 10:00 am 11:40 pm 10:00 am 11:40 pm 10:00 am 11:40 pm 10:00 am 11:40 pm 10:00 am 11:40 pm 10:00 am 11:40 pm 11:45 am 12:35 pm 11:45 am 12:35 pm 12:50 pm 2:30 pm 12:50 pm 2:30 pm 12:50 pm 2:30 pm 12:50 pm 2:30 pm 12:50 pm 2:30 pm 2:45 pm 4:25 pm 2:45 pm 4:25 pm 2:45 pm 4:25 pm 2:45 pm 4:25 pm 2:45 pm 4:25 pm 2:45 pm 4:25 pm

Room

Making Sense Out of Change Jonathan Kraftchick, CPA

Salon IV-V

Navigating Virginia’s Political Landscape Gary Thomson, CPA

Salon IV-V

9:45 – 10:00 am Break 3

Technology Update Randy Johnston, MCP, CNA

Salon IV

Falls Church/ Vienna Great Falls/ Arlington Salon I – III

How to Identify a Flawed Valuation Harold Martin, Jr., CPA, ABV/CFF Managing Your Insurance Needs Burman Clark, RHU, CSA

Today’s Analytical Procedures – A Practical Approach Joan Renner, CPA, CGMA

Accounting for Federal Contracts Bill Walter, CPA, CGMA

Salon VI – VIII

Accounting & Auditing Update for Nonprofits Lee Klumpp, CPA, CGMA What Happened to My Itemized Deductions? Bill Young, CPA, CGMA

Salon V

11:45 – 12:35 pm

Lunch ‘N Learn Sessions - Optional

Salon IV

Employee Benefit Plan – Retirement Plan Perspectives: Auditor, Plan Sponsor, Plan Participant & Tax Compliance Lisa Germano, CPA, CGMA, J.D. and Diane Walker, CPA Update on Requirements & Best Practices for Preparation, Compilations & Review Engagements Mike Glynn, CPA, CGMA

Salon I – III

12:35 – 12:50 pm Break 11 12:50 pm 2:30 pm

Salon VI – VIII

Cybersecurity: A Practical Guide Randy Johnston, MCP, CNA How to Identify a Flawed Valuation (REPEAT OF SESSION 4)

Salon IV

Falls Church/ Vienna Salon I – III

GASB Update Tracy M Bedgood, CPA and Krista Edoff, CPA Accounting & Auditing Update for Nonprofits (REPEAT OF SESSION 8)

Salon V

Great Falls/ Arlington

Managing Your Insurance Needs (REPEAT OF SESSION 5)

2:30 – 2:45 pm Break 17

Update on Requirements & Best Practices for Preparation, Compilation & Review Engagements (REPEAT OF SESSION 11)

Salon VI – VIII

GASB Update (REPEAT OF SESSION 14) Accounting for Federal Contracts (REPEAT OF SESSION 7)

Salon I – III Falls Church/ Vienna

Today’s Analytical Procedures – A Practical Approach (REPEAT OF SESSION 6)

Salon IV

Great Falls/ Arlington

State & Local Tax Challenges Seth Davis, CPA Tax Policy Update - Corporate Art Auerbach, CPA, CGMA

Salon V

4:25 – 4:40 pm Break EVENING

Presiding: Stephanie Peters, CAE, President & CEO, VSCPA

Salon IV-V

4:40 pm 5:30 pm

AICPA Enhancing Audit Quality Update – Continuing the Journey to Excellence Ian MacKay, CPA, CGMA

5:30 – 7:00 pm Networking Reception

Falls Church Marriott Fairview Park September 27-28, 2018 Day 2 - Schedule

6:30 – 8:25 am Registration and Continental Breakfast

Session

Day/Time 7:30 am 8:20 am

Room

BONUS SESSION: VSCPA Update Stephanie Peters, CAE

Salon IV-V

OPENING

Presiding: Stephanie Peters, CAE, President & CEO, VSCPA

8:25 am 9:15 am

Key Virginia Board of Accountancy Disciplinary Actions in 2018 Robert Cox, J.D., MBA

Salon IV-V

9:15 – 9:30 am Break 26 9:30 am 11:10 am

Tax Policy Update - Individual Art Auerbach, CPA, CGMA

Salon V

9:30 am 11:10 am 9:30 am 11:10 am 9:30 am 11:10 am 9:30 am 11:10 am 9:30 am 11:10 am 11:15 am 12:05 pm 11:15 am 12:05 pm 12:20 am 1:50 pm 12:20 am 1:50 pm 12:20 am 1:50 pm 12:20 am 1:50 pm 12:20 am 1:50 pm 2:05 pm 3:45 pm 2:05 pm 3:45 pm 2:05 pm 3:45 pm 2:05 pm 3:45 pm 2:05 pm 3:45 pm 2:05 pm 3:45 pm

Cybersecurity: Mitigating Risks Through an Effective Cybersecurity Risk Management Program Cindy Gross, CPA, CISA

Salon VI -VIII

Virginia-Specific Ethics Course 2018 Jim Cole, CPA, CGMA

Salon IV

Great Falls/ Arlington Falls Church/ Vienna Salon I – III

State & Local Tax Challenges (REPEAT OF SESSION 21)

Nurturing Diversity in the Workplace Kimberly Ellison-Taylor, CPA, CGMA

FASB Update Robert Cherry, CPA

11:15 am – 12:05 pm

Lunch ‘N Learn Sessions - Optional

Overview of the Virginia Board of Accountancy Disciplinary Process Robert Cox, J.D., MBA

Salon IV

What Happened to My Itemized Deductions Bill Young, CPA, CGMA

Salon I – III

12:05 – 12:20 pm Break 34 12:20 am 1:50 pm

GAO Yellow Book Update: The Latest Developments in Government Auditing Standards Michael Bingham, CPA and Matt Zaun Managing Your Professional Liability – Risk Management Best Practices Duncan Will, CP, ABV/CFF, CFE

Falls Church/ Vienna Great Falls/ Arlington Salon VI – VIII

Global Finance, Banking, Treasury & Payments Update Jeff Lewis, CPA, MBA, RR, CTP

FASB Update (REPEAT OF SESSION 31)

Salon I – III

A Tale of Two Nonprofits: Useful Applications of the Changes Fostered by ASU 2016-14, Nonprofit Financial Statements Cathy Pennington, CPA, CGMA Cybersecurity: Mitigating Risks Through an Effective Cybersecurity Risk Management Program (REPEAT OF SESSION 27) GAO Yellow Book Update: The Latest Developments in Government Auditing Standards (REPEAT OF SESSION 34)

Salon V

Salon IV

2:25 1:50 – 2:05 pm Break 40

Falls Church/ Vienna Salon VI – VIII

Global Finance, Banking, Treasury & Payments Update (REPEAT OF SESSION 36)

Virginia-Specific Ethics Course 2018 (REPEAT OF SESSION 28)

Salon IV

A Tale of Two Nonprofits: Useful Applications of the Changes Fostered by ASU 2016-14, Nonprofit Financial Statements (REPEAT OF SESSION 38) Managing Your Professional Liability – Risk Management Best Practices (REPEAT OF SESSION 35)

Salon V

Great Falls/ Arlington Salon I - III

Nurturing Diversity in the Workplace (REPEAT OF SESSION 30)

FALLS CHURCH MARRIOTT FAIRVIEW PARK

NOTES: __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________ __________________________________________

BIOs OF SPEAKERS FOR FALLS CHURCH CONFERENCE

Arthur (Art) Auerbach , CPA, CGMA is an independent tax consultant located in Atlanta, GA., specializing in tax consulting and estate and financial planning for individuals and closely held businesses. He is affiliated with the Asbury Law Firm as a consultant. He is a member of the Georgia, Virginia, New York and Greater Washington CPA societies. Art was appointed to the AICPA Tax Executive Committee for a term beginning February 1, 2018 ending May 31, 2019. As an active member of the Georgia Society he serves on the Georgia Department of Revenue Commissioners Advisory Group, the Financial Literacy Task Force and Chairs the GSCPA Federal State Tax Task Force. He has served as an advisor to the District of Columbia Office of Tax and Revenue and the Tax Commissioners Advisory group in Virginia. Art is currently on the editorial board of the Journal of Accountancy and serves as a member of the Ethics Committee of the Virginia Society of CPA’s . Art is a nationally recognized speaker on a variety of tax topics offered for continuing education for CPA’s and financial planners. He has authored several publications and articles. Art is licensed in Georgia, Virginia, District of Columbia and New York and is a life member of the American In stitute of CPA’s. He can be reached at Arthur.Auerbach@cpa.com. Tracy M. Bedgood , CPA, As an audit manager, is responsible for all aspects of the audit process. She maintains an active presence throughout the planning, performing, supervising and reporting stages of the engagement, as well as provides direct communication and value-added services to clients. Tracy serves clients across a wide range of industry groups, specializing in attestation services for the government sector. Attestation services she provides include financial and performance audits, agreed-upon procedures, single audits and compliance audits. With over 13 years of audit experience, Tracy has also guided state and local government entities with financial statement and compliance audits in accordance with both GAAS and Government Auditing Standards, the Single Audit, and the Auditor of Public Accounts’ Specifications for Audits of Counties, Cities and Towns, and Specifications for Audits of Authorities, Boards and Commissions. Prior to joining Cherry Bekaert, Tracy practiced public accounting in Georgia for nearly 10 years. Michael Bingham , CPA, is a Senior Auditor for the Financial Management and Assurance team at the U.S. Government Accountability Office (GAO). He is part of the Yellow Book Project Team, the Yellow Book and Green Book Technical Assistance group, and also serves as a project liaison with the International Organization of Supreme Audit Institutions (INTOSAI). Mr. Bingham was the Auditor-in-Charge for the inaugural audits of the Statements of Long-Term Fiscal Projections of the United States Government and has worked on various Department of Defense financial management and financial audit engagements. Prior to joining GAO in 2008, Mr. Bingham worked for an inner city tutoring and mentoring non-profit in Chicago. He received his B.A. in Political Science from the University of Chicago and his M.A.S. from Northern Illinois University. He is a CPA licensed in the Commonwealth of Virginia. Robert (Rob) Cherry, CPA, is a senior manager with Dixon Hughes Goodman, LLP. Rob provides audits, reviews, and compilations of financial statements. He has worked extensively with management, business owners, and key stakeholders in the real estate, construction, and manufacturing/distribution industries. Burman S. Clark is President of Muneris. He has 25 years of experience in the insurance and employee benefits industry. Clark’s strong benefits background encompasses life, health, disability and retirement benefits with specific emphasis on Health Care Reform. He specializes in providing cost-effective solutions to small and mid-size employers. Clark, a Randolph-Macon graduate, earned designation as a Registered Health Underwriter (RHU) from the American College and his Certified Senior Advisor (CSA) designation in 2007. Jim Cole , CPA, CGMA, is the CEO for the Masonic Home of Virginia, a Richmond-based continuing care retirement community. Formerly controller of the Virginia Tech Foundation, he held several administrative positions at Virginia Tech following his tenure with an international accounting firm. His 35 years of experience with nonprofits and businesses includes roles as auditor, founder, officer and director of numerous organizations. He has been a licensed life insurance agent and holds two degrees from Virginia Tech. Jim is a former Virginia Society of CPAs (VSCPA) Board member and formerly chaired the VSCPA Business and Industry Conference Task Force. He has been a co-author of the 2014 – 2017 Ethics courses and an ethics instructor for 14 years. Robert (Bob) H. Cox , J.D., MBA, is a trial attorney with over two decades of experience litigating all types of business cases in courts across the nation. His experience covers a wide range of matters involving securities, business torts, contracts, antitrust, intellectual property, real estate and white collar criminal issues. He has represented parties in class actions, multi-district litigation (MDLs), government enforcement actions, private business disputes and appeals in federal and state courts. Bob has experience managing all of a telecommunications company’s litigation over a several year period, totaling well over 100 separate pieces of litigation in courts throughout the United States. The telecommunications company had a forum selection provision in its contracts setting the federal court in Alexandria and the Fairfax Circuit Court as the venue for a majority of the cases. Bob not only took part in the management of these cases, he participated in the litigation of many of these matters, including examining witnesses at hearings and trial, taking and defending depositions, arguing key motions (i.e., summary judgment and dismissal), and drafting briefs and other pleadings. Bob also has substantial experience in securities enforcement and regulatory matters involving accounting firms and auditors. Bob regularly represents accounting firms, corporations, corporate officers and directors, and financial industry professionals in civil, criminal and regulatory matters, including investigations and enforcement proceedings before the U.S. Securities and Exchange Commission (SEC), Public Company Accounting Oversight Board (PCAOB) and the Financial Industry Regulatory Authority (FINRA). In addition, he conducts internal investigations and provides compliance counseling to prevent such investigations. He also represents accounting firms and accountants in professional malpractice matters. Prior to joining Briglia Hundley, Bob was an assistant director in the PCAOB’s Division of Enforcement and Investigations for more than six years. While with the PCAOB, he handled numerous enforcement investigations and disciplinary proceedings against domestic and international accounting firms and auditors, including matters involving the Big Four and other Global Network accounting firms. He also coordinated enforcement matters with the SEC, FINRA and foreign regulatory bodies. Before the PCAOB, Bob was a partner at the largest litigation-focused law firm in the country where he handled complex antitrust, commercial and securities cases. Bob has authored several articles and treatises chapters on topics involving securities, antitrust, and litigation. For example, he is co- author of Chapter 11, Securities Damages” in Boushie, Spadea, & Cunniff, Calculating and Proving Damages (Law Journal Press 2011), a leading treatise on damages. He is also the author of Chapter 6, Collateral Estoppel and Prima Facie Effect, Antitrust Evidence Handbook, Third Edition (ABA 2016). Bob has substantial experience teaching trial advocacy, including training litigators in depositions, examination of expert witnesses and direct examination and cross-examination at

trial. In addition, he has frequently spoken at professional conferences, training workshops, and continuing legal education courses, such as the FBI Academy at Quantico, Va. and the Virginia Society of CPAs (VSCPA). Seth W. Davis , CPA, is a partner with more than 15 years of experience in public accounting. As Dixon Hughes Goodman’s (DHG) tax market leader for Metro D.C., Seth is focused on coordinating relevant U.S. federal, state and local, and international tax services that are aligned with each company’s business objectives. His experience includes serving large, privately -held and publicly-traded companies operating in a wide variety of industries, including media and entertainment, aerospace and defense, government contracting, banking and financial services, technology, and manufacturing/distribution. Seth has extensive experience with federal and state income tax planning, accounting for income taxes (ASC 740 and IAS 12) and helping companies analyze the tax implications of various merger and acquisition scenarios. His passion is serving as a strategic partner to the firm’s clients with the intent of adding value to each organization. Prior to joining DHG, Seth worked at a Big Four f irm for more than 13 years in Atlanta, Ga., Charlotte, N.C. and McLean, Va. Krista Edoff, CPA, is a Partner in Cherry Bekaert’s Hampton Roads practice, Krista has over twelve years of experience providing attestation services to governmental, commercial and nonpr ofit clients. As a member of the Firm’s Government Services industry group, local governments depend on Krista’s expertise in performing financial and compliance audits (including single audits). She also delivers audit , review, agreed-upon procedure and consulting services to middle- market clients within the manufacturing, distribution and retail industries. Krista’s duties encompass all aspects of these services from planning, performing, supervising, reporting and wrapping-up the engagement, to direct communication and value- added services to her clients. Before joining Cherry Bekaert in 2002, Krista was employed in public accounting in Florida and South Carolina, where her primary focuses were governmental accounting and small business taxation. She has been both an internal and external instructor for government-related CPE. Kimberly Ellison-Taylor, CPA, CGMA, has a lengthy history of volunteering for the profession, including serving as a member of the AICPA Business and Industry Executive Committee as well as the AICPA Board of Directors where she served as a member of the Audit and Finance committees. She also worked with the Benevolent Fund and has served as a Council representative. Kimberly is a past chair of the Maryland Association of CPAs, and has served on many of its committees including the New Young Professional Network and Tomorrow's CPA. Lisa Germano , CPA, CGMA, J.D., is president and general counsel of Actuarial Benefits & Design Company (AB&DC), an organization that assists business owners and key executives to establish and monitor retirement income goals, maintain retirement plan compliance, satisfy reporting and disclosre to government agencies and assist with internal controls and plan governance. Lisa is a member of the Virginia Bar and is licensed as a CPA by the Commonwealth of Virginia. She is a principal in the law firm of Coyner & Germano, located in Charlottesville. Lisa founded two 501(c)(3) nonprofit organizations; one for ovarian cancer research and the other a private-public partnership for public school funding for athletics and other nonacademic programs that keep students engaged. Lisa is immediate past chair of the Virginia Society of CPAs (VSCPA) Board of Directors and has served on the Board and has chaired numerous high-level committies for the American Institute of CPAs (AICPA). She was appointed by Internal Revenue Service (IRS) Commissioner Shulman to his Information Reporting Program Advisory Committee. She currently serves on the committee for the IRS EP/EO 2017 Joint Council meeting, co-chairs the IRS Mid-Atlantic Pension Liaison Group and was co-chair of the 2014 AICPA National Employee Benefits Conference. In 2015, Lisa received the Arthur J. Dixon Memorial Award from the AICPA. In 2011, she was inducted as a fellow into the American College of Employee Benefits Counsel for her contributions in the employee benefits field and also in that year received the inaugural AICPA Sustained Contribution Award for her contributions to the CPA profession. In 1996 Lisa received the Hammer Award from Vice President Gore for voluntary service on regulatory work for the Pension Benefit Guaranty Corporation. She authors several newsletters and speaks frequently on employee retirement plan related topics, small business leadership and nonprofit governance and professional networking. Follow her on Twitter at @LisaGermanoCPA. Mike Glynn , CPA, CGMA, is a senior technical manager in the AICPA Audit and Attest Standards Team. He serves as the staff liaison to the Accounting and Review Services Committee (ARSC). In addition, Mike supports the activities of Auditing Standards Board (ASB) and its subcommittees by assisting members in drafting and deliberating authoritative professional standards and interpretations. Cindy Gross , CPA, CISA, is a director in the information technology audit practice at Brown Edwards. Prior to joining Brown Edwards, Cindy was a director in one of the top 10 firms in the nation where she provided IT audit and consulting services to a wide range of entities including financial services, technology and health care entities. She has over 15 years of experience in system development and design. At Brown Edwards, she focuses on providing a full complement of value-added IT assurance and advisory services, ranging from traditional system audits and SOC engagements to penetration testing and Sarbanes-Oxley control evaluations. She also applies her depth and expertise in the areas of disaster recovery/business continuity planning, vendor management and IT risk assessments. Cindy provides services to clients throughout the firm’s nine offices. A 2006 graduate of the University of Texas at Arlington, Cindy has a Master of professional accountancy degree. In addition, she has a B.S. degree in computer programming and information systems from Shepherd University. She is a member of the American Institute of CPAs (AICPA) and the Information Systems Audit and Control Association (ISACA). Randolph (Randy) Johnston , MCS, has been a top rated speaker in the technology industry for over 40 years. He was inducted into the Accounting Hall of Fame in 2011. He was selected as a Top 25 Thought Leader in Accounting from 2011-2017. His influence throughout the accounting industry is highlighted once again this year by being a recipient of the 2016 Accounting Today Top 100 Most Influential People in Accounting award for the thirteenth consecutive year. Among his many other awards he holds the honor of being one of nine technology stars in the U.S. by Accounting Technology Magazine. Randy writes a monthly column for The CPA Practice Advisor, articles for the Journal of Accountancy, and creates articles for both accounting and technology publications, as well as being the author of numerous books. He has started and owns multiple businesses including K2 Enterprises in Hammond, Louisiana and Network Management Group, Inc. in Hutchinson, Kansas. NMGI has supported CPA firms for 30+ years and is the largest managed service provider serving the CPA profession in North America. His wife and four children enjoy many experiences together including theatre, music, travel, golf, skiing, snorkeling and model trains. Lawrence (Lee) Klumpp , CPA, CGMA, is BDO’s National Nonprofit & Education Industry Group audit and a ccounting technical leader. He recently completed a fellowship at the Financial Accounting Standards Board (FASB) where he led FASB's project to reexamine existing standards for financial statement presentation by nonprofit entities, focusing on improving the net asset classification requirements and information provided in financial statements and notes about liquidity, financial performance and cash flows. Lee has 20 years of experience serving a diverse group of nonprofit organizations while working for BDO and previously in the audit practices of Ernst & Young, LLP and KPMG. Additionally, he is an

accomplished speaker and has spoken on various nonprofit accounting, governance auditing, internal control, governance, financial reporting and single audit issue topics related to nonprofit organizations around the country. Follow him on Twitter @lklumppcpa. Jonathan Kraftchick , CPA, is senior manager of training and development at Cherry Bekaert LLP, where he is responsible for implementing and evaluating the firm's training strategies through course development and delivery. He oversees the firm’s audit training efforts and is a fr equent speaker on audit and accounting topics. He has also served as an adjunct professor at Elon University in the accounting department. Jonathan has spoken to thousands of college students, professional organizations and state societies about the power of saving early in your career. He is also a Financial Literacy volunteer for the AICPA and 360 Degrees of Financial Literacy through the NCACPA. He is a member of the AICPA and the North Carolina Association of Certified Public Accountants (NCACPA). Jennifer S. Lehman , CPA, CGMA, has 20 years of public accounting experience, joining Hantzmon Wiebel in 1997. She is a co-partner-in-charge of employee benefit plan audits, and also works with high net worth individuals and a variety of clients. Jennifer enjoys working with her clients, solving problems and helping them remain in compliance with audit and tax regulations. She also consults with her clients on human resource transition and related issues. Jennifer has served as the firm’s chief operating officer since 2007, overseeing operations, p ersonnel, marketing and technology with a special focus on creating a first-class environment for the staff. In her 20 years of professional experience, Jennifer has specialized in the employee benefit plan industry serving all types of benefit plans and plan sponsors. Most recently, she participated in an employee benefit plan collaboration team involving the Virginia Board of Accountancy (VBOA) and the Virginia Society of CPAs (VSCPA) to strengthen audit quality in Virginia. Jeffrey Lewis , MBA, RR, CTP, CCM, is president and managing partner of The Azimuth Group. His practice includes the areas of strategic planning, domestic and international finance and treasury. He has worked worldwide for a variety of multinational companies. Jeff is a frequent lecturer on global financial management, international development, electronic commerce and systems development. Published in leading professional publications and journals worldwide, he has authored several textbooks and reference manuals. Ian A. MacKay , CPA, CGMA, is the Director of Federal Regulatory Affairs with the AICPA. Mr. MacKay is responsible for directing the Employee Benefit Plan Audit Quality Center; monitoring Federal government activities (other than tax and governmental accounting) and communicating issues to AICPA members, providing technical assistance on federal legislation; liaising with Federal government agencies on audit and accounting matters, and monitoring and commenting on proposed regulation. He is a graduate of the College of William and Mary and former adjunct professor at George Washington University. Harold Martin Jr. , CPA/ABV/CFF, ASA, CFE, is the partner-in-charge of the Valuation and Forensic Services Group for Keiter in Richmond, Va. and an adjunct faculty member of the College of William and Mary Mason Graduate School of Business. He specializes in valuation and forensic accounting including financial investigations and litigation consulting and expert witness services. Harold is a former member of the American Institute of CPAs (AICPA) Business Valuation (BV) Committee, former chair of the AICPA National BV Conference Steering Committee, former editor of the AICPA ABV e-Alert and former editorial adviser and contributing author for the AICPA CPA Expert. He is a member of the AICPA BV Hall of Fame and a two-time recipient of the AICPA BV Volunteer of the Year Award. He currently serves as a commissioner for the AICPA National Accreditation Commission and as an instructor for the AICPA National BV School and AICPA ABV Exam Review Course. Harold is a former member of the VSCPA Board of Directors and is the former chairman of the Business Valuation and Litigation Services Committee. He created and serves as chair of the Virginia Society of CPA s’ (VSCPA) Annual Business Valuation, Fraud and Litigation Services Conference. He is a co- author of “Financial Valuation: Applications and Models, 3rd ed.” and a contributing author to “Cost of Capital: Applications and Examples 4th ed. Workbook and Techn ical Supplement.” Catherine M. Pennington , CPA, CGMA, has more than 30 years of experience in both public accounting and industry. She has spent 21 years in public accounting performing audits, tax planning and compliance and accounting services. Her practice is focused on nonprofit organizations. In addition, Cathy spent seven years as a nonprofit controller and five years as a controller in real estate development and property management. She provides professional services to trade associations, professional associations, sports leagues, child development centers, schools, churches and other nonprofit organizations. These professional services not only include audit and tax services but also accounting services that take advantage of her years of experience as a controller. These engagements involve functioning as either a temporary or ongoing, multi-year chief financial officer or controller. Stephanie R. Peters , CAE, is president & chief executive officer of the Virginia Society of Certified Public Accountants (VSCPA), a statewide professional association for CPAs. She has been with the VSCPA since 1997 and leads the organization on national and state professional issues, legislative and regulatory activities and external relations. As president & CEO, Peters is a member of the VSCPA board of directors and its executive committee. Nationally, Peters serves as Chair of the National Association of State Boards of Accountancy (NASBA) State Society Relations Committee. Peters has served on the American Institute of CPAs (AICPA) Peer Review Board and the AICPA/NASBA Uniform Accountancy Act Committee, and she is a past president of the CPA Society Executives’ Association. A Certified Association Ex ecutive (CAE), Peters served as president of the Virginia Society of Association Executives and has received its CEO Award of Excellence. Peters currently serves as Vice Chair of the Virginia Council on Economic Education. Peters received her Bachelor of Arts in history from the University of Virginia and her Master of Public Administration from Virginia Commonwealth University. She is also a graduate of the U.S. Chamber of Commerce Institute for Organization Management and Lead Virginia. Joan M. Renner , CPA, CGMA, has been providing audit and accounting services to nonprofit organizations for more than 30 years. She is in charge of Renner & Company's services to nonprofit organizations. Her areas of expertise include services to trade associations, scientific organizations, federal award recipients, schools and other public charities. Joan is a member of the Virginia Society of CPAs (VSCPA) Accounting & Auditing Conference Committee and the Greater Washington Society of CPAs Nonprofit Organizations Committee and has been a popular presenter at professional conferences. Joan has served on a number of nonprofit Boards, including the Goodwin House Foundation, Scholarship Fund of Alexandria, Rotary Club of Alexandria, Alexandria Chamber of Commerce, Alexandria Symphony Orchestra and Friends of the Torpedo Factory Art Center. She has also been recognized as a Living Legend of Alexandria, Rotarian of the Year (Rotary Club of Alexandria) and Board Member of the Year (Alexandria Chamber of Commerce).

Gary Thomson , CPA, is regional managing partner of Dixon Hughes Goodman's Virginia region and has more than 27 years of public accounting experience including experience with an international accounting and consulting firm. He provides a variety of accounting and tax services to all sizes of businesses and their owners including professional services, government contractors, distributors, professional services, real estate developers and contractors. Diane Walker , CPA, is a partner at Johnson Lambert LLP, a multi-office, niche-focused firm that provides audit, tax, and advisory services to employee benefit plans, insurance entities and nonprofit organizations. Diane has more than 20 years of experience providing service to clients in all three of the firm’s industry niches . She also has a significant leadership role in Johnson Lambert’s audit practice including serving as the partner responsible for the firm’s system of quality control as well as leading the firm’s employee benefit plan practice. Diane co - chairs Johnson La mbert’s Technical Committee which has the responsibility for firm-wide training, implementation of new standards and the technical content contained on the firm’s website. Diane is involved with the Texas Captive Insurance Association (TxCIA), serving as a Board Member and Treasurer. Diane’s benefit plan industry experience also includes being a member and former chair of the Employee Benefit Plans Industry Developments – Audit Risk Alert Task Force, former member of the Employee Benefit Plans Audit Quality Center Executive Committee Former Member, and former member of the Employee Benefit Plans Expert Panel. Additionally, she is a frequent speaker on a variety of accounting and auditing topics. A Summa Cum Laude graduate of The College of William & Mary, Diane joined Johnson Lambert in 1998. William (Bill) R. Walter , CPA, CGMA, is a partner at Dixon Hughes Goodman. He has more than 25 years of experience helping companies identify and resolve issues associated with cost accounting and financial management systems. He has an extensive background in the application and interpretation of rules, regulations and standards applicable to government contractors. Bill began his career as an auditor for the Defense Contract Audit Agency (DCAA). He was responsible for evaluating contractor submissions to ensure that they were based on current, accurate and complete information and were prepared according to appropriate regulations. He has developed and taught courses on cost reimbursement contracting, accounting for cost on government contracts, contract pricing and more. He also participates presents to industry groups on current issues in the federal procurement arena. Duncan B. Will , CPA/ABV/CFF, CFE, leverages his more than 30 years of experience in accounting including public accounting, forensic accounting, consulting and audit and tax compliance, while working closely with the loss prevention specialists to manage the department's efforts to deliver to policyholders the high-touch, high-quality CAMICO experience. Will's specialty is accounting and auditing-related risk management services. He advises policyholders through the CAMICO Loss Prevention Hotline and speaks to CPA groups on a wide range of topics. William (Bill) A. Young, Jr. , CPA, CGMA, is a partner at Mitchell, Wiggins & Company, LLP and has 45 years of experience in public accounting. Bill’s clients include automotive dealerships, community banks and a variety of closely held, primarily family -owned businesses. He also specializes in estate planning and estate administration. Bill is a member of the American Institute of CPAs (AICPA), the Virginia Society of CPAs (VSCPA) and is a graduate of the University of Virginia’s McIntire School of Commerce. He has been a speaker at several Virginia Acco unting and Auditing Conferences, including a time management presentation at last year’s conference. Matthew Zaun , CPA, is a Senior Auditor for the Financial Management and Assurance team at the U.S. Government Accountability Office (GAO). His areas of responsibility have included financial statement and performance audits of government entities, auditing standards (Yellow Book), and Standards of Internal Control for the Federal Government (Green Book). Mr. Zaun holds Bachelors of Science in Finance, Management, and Accounting, and a Master of Accounting and Information Systems from Virginia Tech.

The 48th Annual Virginia Accounting and Auditing Conference is co-sponsored by the Department of Accounting and Information Systems at Virginia Tech and the Virginia Society of Certified Public Accountants. Representing the Society: Representing Virginia Tech: Jim Brackens, CPA, CGMA Lynn Almond, CPA, Chair Carman Faison, CPA Jamie Dunn, CPA Kristen Kociolek, CPA, CGFM Dana Garner, CPA, Ph.D. Luke Martonik, CPA Eric Martin, CPA Linda Newsom-McCurdy, CAE, CMP Jason Sharp, CPA Joan Renner, CPA Arnita Perfater, Administrative Assistant Laura Seal, CPA Next Year’s Conference : The dates for the 2019 49 th Annual Virginia Accounting and Auditing Conference are: September 23 & 24, 2019, The Hotel Roanoke, Roanoke, Virginia September 26 & 27, 2019, Falls Church Marriott, Fairview Park, Falls Church, Virginia November 21 & 22, 2019, Hilton Norfolk The Main, Norfolk, Virginia Suggestions for the Conference: If you would like to suggest a speaker or topic for next year’s A&A Conference, please let us know. You may give the information to Lynn Almond (lalmond@vt.edu), Program Chair, or any staff member at the Conference registration desk.

Supporting the Next Generation of CPAs

ABOUT THE VSCPA EDUCATIONAL FOUNDATION

The Virginia Society of CPAs (VSCPA) Educational Foundation is dedicated to supporting future CPAs by promoting accounting education, rewarding academic excellence and encouraging students to pursue promising careers.

By making a tax-deductible donation to the VSCPA Educational Foundation, you are helping provide scholarships to the brightest students across Virginia and easing the burden of rising tuition costs. Through the generosity of our donors, we were able to award 27 scholarships to a diverse group of students this year.

Your support will help us provide even more students with financial support to achieve their career goals. Make a tax- deductible donation today at VSCPAFoundation.com and help us raise $65,500 to support the next generation of CPAs!

YOUR DONATION MAKES A DIFFERENCE

“This scholarship continues to motivate and encourage me to be persistent along my path to becoming a CPA no matter what challenges I face.” -Shai Sumpter, VSCPA Minority Scholarship

“This financial support will be a blessing to both me and my family in meeting my tuition requirements for the next academic year.” -McKenna Shirey, Kearney & Company Scholarship

“As a first-generation college student, I have always been constrained by the availability of financial resources. I am extremely grateful for the opportunity the VSCPA has provided me.” -Allen Au, Thomas M. Berry Jr. Scholarship

“Receiving a scholarship from the Foundation, will help me fulfill the immediate educational requirements of becoming a CPA and will have a lasting impact on my future career plans.” -Elena Dorogy, H. Burton Bates Jr. Scholarship

“As a double major in accounting and finance, this scholarship is allow- ing me to complete my degrees without taking many student loans.” -Avery Trent, VSCPA Undergraduate Scholarship

Support Future CPAs Today! VSCPAFoundation.com

Educational Foundation VSCPA

THANK YOU FOR SUPPORTING FUTURE CPAS

Is this an q individual gift or a q firm/company gift?

Name __________________________________________________________________________________________________________ Company name _________________________________________________________________________________________________ Mailing address _________________________________________________________________________________________________ City/State/ZIP ___________________________________________________________________________________________________ Email address ___________________________________________________________________________________________________ Phone __________________________________________________________________________________________________________

ANNUAL FUND GIFT AMOUNT q Pacesetter — $1,000 q Champion — $500

q Supporter — $50 q Contributor — $25 q Other $ __________

q Leader — $250 q Friend — $100

This would really help!

DOUBLE YOUR DONATION! q My employer offers a matching gift program. Name of Employer ____________________________________________________ *For matching gifts, please mail us your employer’s matching gift form.

RECOGNIZING OUR DONORS q I wish to remain anonymous.

PAYMENT METHOD q Check for $ __________ made payable to the VSCPA Educational Foundation VSCPA Educational Foundation 4309 Cox Road Glen Allen, VA 23060

q Credit Card: q Discover Donation Amount $ __________ Card number________________________________________________________ Expiration date_____________________________ Name on card _____________________________________________________ Signature _______________________________________________________________________________________________________ q Visa q MasterCard q American Express

q I would like to make this credit card gift recurring.* Payment frequency: q Monthly q Quarterly

q Yearly

How long should the gift be made? q Until I cancel it

q Until this date:__________

* Your first payment will be processed immediately. Future payments are processed between the 1st and 5th of the month You may also contribute by credit card online at www.VSCPAFoundation.com. All undesignated gifts will be allocated to the VSCPA Educational Foundation’s unrestricted fund for use toward current and future needs.

Learn more at: VSCPAFoundation.com

THANK YOU TO OUR SPONSORS!

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