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NORFOLK

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.

Hilton Norfolk The Main November 15-16, 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

Granby Ballroom Granby Ballroom

Making Sense Out of Change Jonathan Kraftchick, CPA

Navigating Virginia’s Political Landscape Gary Thomson, CPA

9:45 – 10:00 am Break 3

Technology Update Randy Johnston, MCP, CNA

Salon D

GASB Update Tracy M Bedgood, CPA and Krista Edoff, CPA

Salon F

FASB Update Michael Cheng

Salon A

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

Salon B

Accounting for Federal Contracts Brad Tress, CPA and Jacob Barclay

Salon G

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

Salon C

11:45 – 12:35 pm Lunch ‘N Learn Sessions - Optional 9

Granby D

Employee Benefit Plan – Retirement Plan Perspectives: Auditor, Plan Sponsor, Plan Participant & Tax Compliance Lisa Germano, CPA, CGMA, J.D.

Granby E

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

State & Local Tax Challenges Terry Barrett, CPA Cybersecurity: A Practical Guide Randy Johnston , MCP, CNA

Salon B

Salon D

How to Identify a Flawed Valuation Harold Martin, Jr., CPA/ABV/CFF, ASA, CFE GASB Update – (REPEAT OF SESSION 4) Tracy M. Bedgood, CPA & Krista Edoff, CPA

Salon G

Salon F

Accounting & Auditing Update for Nonprofits - (REPEAT OF SESSION 8) Dick Larkin, CPA

Salon C

FASB Update - (REPEAT OF SESSION 5) Michael Cheng

Salon A

2:30 – 2:45 pm Break 17

How to Identify a Flawed Valuation – (REPEAT OF SESSION 13) Harold Martin, Jr., CPA/ABV/CFF, ASA, CFE

Salon G

No Session

-------------

Accounting for Federal Contracts – (REPEAT OF SESSION 7) Brad Tress, CPA and Jacob Barclay

Salon F

Today’s Analytical Procedures– A Practical Approach – (REPEAT OF SESSION 6) Joan Renner, CPA, CGMA

Salon A

State & Local Tax Challenges – (REPEAT OF SESSION 11) Terry Barrett, CPA

Salon B

Tax Policy Update - Corporate Art Auerbach, CPA, CGMA

Salon D

4:25 – 4:40 pm Break EVENING

Presiding: Gary Thomson, CPA, Dixon Hughes Goodman

Granby Ballroom

4:40 pm 5:30 pm

AICPA Enhancing Audit Quality Update – Continuing the Journey to Excellence Jim Brackens, Jr., CPA, CGMA

5:30 – 7:00 pm Networking Reception

Hilton Norfolk The Main November 15-16, 2018 Day 2 - Schedule

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

Session

Day/Time 7:30 am 8:20 am

Room

Granby Ballroom Granby Ballroom

BONUS SESSION: VSCPA Update Maureen Dingus, CAE

OPENING

Presiding: Maureen Dingus, CAE, CFO, VSCPA

8:25 am 9:15 am

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

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

Tax Policy Update - Individual Art Auerbach, CPA, CGMA

Salon D

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

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

Salon G

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

Salon E

Update on Requirements & Best Practices for Preparation, Compilations & Review Engagements Mike Glynn, CPA, CGMA Managing Your Professional Liability – Risk Management Best Practices Duncan Will, CP, ABV/CFF, CFE

Salon A

Salon F

Managing Your Insurance Needs Burman Clark, RHU, CSA

Salon C

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

Granby D

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

Granby E

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

GAO Yellow Book Update: The Latest Developments in Government Auditing Standards Kristen Kociolek, CPA, CDGM Managing Your Professional Liability – Risk Management Best Practices – (REPEAT OF SESSION 30) Duncan Will, CP, ABV/CFF, CFE

Salon C

Salon F

Global Finance, Banking, Treasury & Payments Update Jeff Lewis, CPA, MBA, RR, CTP Managing Your Insurance Needs – (REPEAT OF SESSION 31) Burman Clark, RHU, CSA

Salon D

Salon G

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) Cindy Gross, CPA, CISA GAO Yellow Book Update: The Latest Developments in Government Auditing Standards (REPEAT OF SESSION 34) Kristen Kociolek, CPA, CDGM Global Finance, Banking, Treasury & Payments Update - (REPEAT OF SESSION 36) Jeff Lewis, CPA, MBA, RR, CTP Virginia-Specific Ethics Course 2018 - (REPEAT OF SESSION 28) Jim Cole, CPA, CGMA A Tale of Two Nonprofits: Useful Applications of the Changes Fostered by ASU 2016-14, Nonprofit Financial Statements – (REPEAT OF SESSION 38) Cathy Pennington, CPA, CGMA Update on Requirements & Best Practices for Preparation, Compilations & Review Engagements – (REPEAT OF SESSION 29) Mike Glynn, CPA, CGMA

Salon B

Salon A

2:25 1:50 – 2:05 pm Break 40

Salon C

Salon D

Salon E

Salon B

Salon A

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

BIOs OF SPEAKERS FOR FALLS CHURCH CONFERENCE

Marcus J. Aron , CPA, CGMA , is Acting Chief, Division of Accounting Services, Employee Benefits Security Administration, U.S. Department of Labor, Washington, D.C. Mr. Aron has nearly thirty years of experience in working with audits of ERISA-covered plans. He is responsible for the day-to- day implementation of EBSA’s CPA Firm Inspection Program, providing technical assistance to plan filers and plan professional s, and providing ERISA-related accounting and auditing expertise within EBSA. Mr. Aron is a certified public accountant and holds a B.B.A. degree with a major in accounting from the College of William and Mary in Virginia. 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 b oard 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. Terry Barrett, CPA, is a Tax Senior Manager with Keiter, an accounting firm located in Glen Allen, Virginia, where her focus is on assisting clients in better understanding and becoming compliant with their various state and local tax requirements. She has over 28 years of tax experience working with large and small businesses operating in Virginia as well as in multiple states. She consults with clients on income, sales and use, and local (business license, machinery and tools, and business personal property) tax matters. Some of the services Terry provides include state and local tax reviews, tax nexus studies, voluntary disclosures, audit resolution and appeals, and refund/exposure reviews to determine refund opportunities as well as corrective measures for various state and local taxes, with particular focus on sales and use tax and local business taxes. Prior to joining Keiter Terry managed her own state and local tax consulting firm, worked in the state and local practice of PricewatershouseCoopers, and was with the Virginia Department of Taxation as a Policy Analyst, thereby gaining valuable experience upon which she draws in providing consulting services to current clients. Jacob Barclay , is a senior consultant, government contracting with Dixon Hughes Goodman. He is an experienced accounting professional, servicing companies in the government contracting arena ranging from start-ups to billion-dollar corporations. As a consultant, he assists clients in navigating the rigorous compliance rules, regulations, and standards prescribed to government contractors. Jacob has successfully assisted clients in the following techniques: Led a team to provide indirect rate & pricing analysis for one of the largest government contractors in the Hampton Roads region; Developed indirect cost structure & forward pricing analysis for a $300M international manufacturing corporation; Provided proposal pricing support on $650M contract which required a 21-day turnaround; successfully won by the contractor. He has a BS from James Madison University. 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 Auditi ng 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. James (Jim) W. Brackens Jr. , CPA, CGMA, is vice president of ethics and practice quality at the American Institute of CPAs (AICPA). His responsibilities include providing strategic and tactical direction for peer review, professional ethics, the Employee Benefit Plan Audit Quality Center and the Governmental Audit Quality Center. Prior to joining the AICPA in 2006, Jim was associated with both international and local public accounting firms including managing his own practice for 17 years in which he served primarily closely held businesses and nonprofit organizations. He also served as a peer reviewer and performed more than 300 peer reviews of local accounting firms. Jim is a member of the AICPA, the North Carolina Association of CPAs (NCACPA) and the Virginia Society of CPAs (VSCPA) and has served in various volunteer leadership positions for both the AICPA and VSCPA including chairing the VSCPA’s Peer Review Committee, serving as vice chair and member of the VSCPA’s Board of Directors and as a member of the AICPA’s Professional Ethics Executive Committee. Through a joint effort of the VSCPA and Vir ginia Business magazine, Jim was voted by his peers as being one of the top CPAs in Virginia in small business consulting (2001 through 2004) and assurance services (2004 and 2005). In 2004, he was the initial author and primary presenter of the VSCPA’s CPE course "Ethics 2004 — Your License Depends on It!" and continued in this capacity until joining the AICPA. Jim received his bachelor's degree in accounting from Virginia Tech in 1977. Michael (Mike) K. Cheng joined the staff of the Financial Accounting Standards Board (FASB) in 2012 as a project manager. He serves as the Private Company Council (PCC) coordinator where he is responsible for all PCC related matters. He also leads the board’s private company decision making framework project focused on determining whether and in what circumstances it is appropriate to adjust financial reporting requirements for private companies following U.S. GAAP. In addition, he served on the FASB project teams working on policies and procedures for consolidations. Burman S. Clark is President of Muneris. He has 25 years of experience in the insurance and employee benefits industry. Cla rk’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 ma lpractice 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). Maureen Dingus , CAE, is the chief operating officer at the Virginia Society of CPAs. Maureen works to achieve the VSCPA's mission, vision and goals through oversight of strategy and internal operations. She began her career at the VSCPA as a marketing coordinator in 1993 and is a graduate of Virginia Commonwealth University. 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 nonprofit 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. 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 continuit y 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). Kevin Humphries , CPA, is an assurance partner at PBMares, LLP in Harrisonburg, Virginia. He joined the firm in 2001, after practicing with national and regional accounting firms and serving two exempt organizations as chief financial officer. He serves not-for-profit organizations, employee benefit plans and privately owned businesses. In addition to assurance services, he performs business valuations, peer reviews and related consulting services. He received a BS Degree in Accounting and Business Administration from Washington and Lee University and his MBA from Eastern Mennonite University. He is credentialed as a Certified Public Accountant, Certified Valuation Analyst, Charter Global Management Accountant and Certified in Financial Forensics. Kevin is a member of the American Institute of Certified Public Accountants and previously served on its Technical Standards Sub-Committee; and is a past- chair of the Virginia Society of CPA’s Professional Ethics Committee. He currently serves as chair of the VSCPA Peer Review Committee. Kevin also serves as a director for several not-for-profit organizations and as a member of the School of Accounting Guiding Executives (SAGE) board at James Madison University. 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. Kristen A. Kociolek, CPA, CGFM, is a director on the Government Accountability Office’s (GAO) Financ ial Management and Assurance Team where she leads audits on Department of Defense financial management issues. Ms. Kociolek has been a member of GAO’s audit s tandards team responsible for developing, drafting, and maintaining Government Auditing Standards (The Yellow Book) and Standards for Internal Control in the Federal Government (the Green Book). Ms. Kociolek has also led GAO’s financial statement audits of the U.S. Securities and E xchange Commission and the Federal Deposit Insurance Corporation. Prior to joining GAO, Ms. Kociolek worked as an audit manager with Ernst & Young in Harrisburg, PA, where her work focused on financial audits of state and local governments. Ms. Kociolek graduated from Elizabethtown College in Elizabethtown, PA with a Bachelor of Science degree in Accounting. She is a Certified Public Accountant, a Chartered Global Management Accountant, and a Certified Government Financial Manager. She is a member of the American Institute of Certified Public Accountants, where she serves on the Auditing Standards Board and the Government Performance and Accountability Committee, and a member of the Pennsylvania Institute of Certified Public Accountants. 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 effo rts and is a frequent 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). Dick Larkin , CPA, is a Technical Director for the Assurance Department of BDO. Prior to joining BDO, Dick spent 31 years of his professional career with PricewaterhouseCoopers. He is widely considered to be one of the premier experts in accounting issues for nonprofit organizations, having extensive experience in the creation and interpretation of nonprofit financial accounting, reporting and auditing standards. In addition, Dick has decades of experience serving numerous nonprofit organizations as both a board member and treasurer. He is also a widely known author on accounting issues in the nonprofit industry. 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.

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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