22 Feb.

Accounting, reporting, and controls update

Private Companies

Tuesday, 02:00 p.m.  ET | 1 hr
Credits offered: CPE Event language: English

Participants will identify new and existing accounting pronouncements and internal control considerations that pertain to private companies and will assess potential impacts to their own organization.


Key takeaways

Host: Kirsten Vosen, Partner in Charge of Private Company Matters, Deloitte & Touche LLP
Presenter: Chris Chiriatti, Kevin Jensen, and Tim Kolber

1 Overview CPE credit | Accounting

The implications of new and complex accounting pronouncements can be wide-ranging for private companies. What should your organization consider when responding to recent changes, especially as they relate to internal controls? We’ll discuss:

  • Potential effects of new and often-challenging accounting pronouncements, including rules for revenue recognition and leasing
  • Possible implications of changes to current expected credit losses (CECL) rules for non-bank entities
  • The role that internal controls play in risk management
  • Practical considerations for internal control rationalization as your company grows and changes

Meet the speakers

Kirsten Vosen

Kirsten Vosen

US Deloitte Private Audit & Assurance Leader

With more than 30 years of audit and accounting experience, Kirsten Vosen serves as the Audit & Assurance Private leader, focused on strategic growth in the private segment. In addition, Kirsten serves as the Partner in Charge of Private Company Matters in the National Office Audit Group at Deloitte & Touche LLP. In this role, she is charged with leading the consultation and rollout of our Private Audit Methodology, including leadership involvement in our private company centers of excellence and a variety of global transformation efforts.

Chris Chiriatti

Chris Chiriatti

CS Managing Director | Audit and Assurance

Chris is a managing director in Deloitte’s National Office, Accounting and Reporting services group. In this role, Chris consults with engagement teams and clients on complex accounting matters and works with clients on analyzing and implementing complex accounting standards under both US GAAP and IFRS. Chris’ primary areas of expertise are revenue recognition, leasing, accounting for cloud computing arrangements, business combinations, accounting for long lived assets, income taxes and CECL for commercial entities. Chris also leads our accounting standards implementation service offering related to revenue recognition, CECL for non-financial institutions and cloud computing arrangements while providing technical support for lease implementation projects. Chris is also the revenue recognition subject matter lead for the National On-call Accounting and Reporting Advisory practice.

Tim Kolber

Tim Kolber

Tim is a Managing Director in Deloitte’s Accounting Advisory & Transformation Services practice where he leads the Accounting Standard Implementation market offering and the Lease Accounting Standard service offering on a National level. In this role, Tim leads or serves as a technical resource on various accounting standard implementation projects where he assists clients with the application of complex accounting guidance and the implementation of new accounting standards. Recent experiences include assisting various entities with the implementation of the FASB’s and IASB’s new lease accounting standards. Tim has close to 20 years of experience in the accounting profession (more than 14 of those years at Deloitte) and is one of the firm’s leading lease accounting experts from both the US GAAP (ASC 842/ASC 840) and IFRS (IFRS 16/IAS 17) perspectives. In this role, he engages in discussions with professionals at the other Large Firms on interpreting the new guidance and interacts with various industry groups and Fortune 100 companies on how to apply the guidance. Tim is also one of the primary authors of Deloitte’s A Roadmap to Applying the New Leasing Standard.

Dbriefs resources

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Tuesday, 22 Feb 2022 02:00 p.m. ET
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