The Impact Of Fair Value On The Banking Industry
|Date / Time:
Fair value measurement in financial reporting is a controversial topic in the banking industry.
Investors indicate that they prefer the information that fair value conveys when making an investment decision. Some preparers are concerned if fair value is worth the cost and complexity for their needs.
The Credit Crisis highlighted the impact of fair value on financial institutions. Fair value measurement requires certain judgment in which also presents unique challenges to preparers and auditors.
"The Impact of Fair Value Measurements on the Banking Industry" will provide the audience on the current status of fair value in financial reporting, particularly with financial institutions. Regulators' viewpoints on measuring fair value and other audit concerns will also be discussed.
History of Fair Value Measurements in Financial Reporting in Banking
Common Accounting Standards With Fair Value as the Unit of Measurement
- Fair Value and the Credit Crisis
- SEC Findings
Fair Value and Bank Business Combinations
- ASC 820 Fair Value Measurement
- ASC 805 Business Combinations
- ASC 350 Goodwill and Other Intangible Assets
- ASC 825 Fair Value Option
Testing Goodwill for ImpairmentFair Value of Swaps and Other Financial InstrumentsRegulators and Fair Value
- Examples of Acquired Intangible Assets
- Special Issues With Core Deposits
Fair Value Quality Initiative
- Security and Exchange Commission Guidance
- SEC Enforcement Actions
- PCAOB Guidance for Auditing Fair Value
- PCAOB Audit Deficiencies Related to Fair Value Measurements
- Issues in Auditing Fair Value
Future of Fair Value in Financial ReportingAbout The Presenter
- History and Development
- Current Status
- Credentials for Valuation Specialists
Mark L. Zyla, CPA/ABV, CFA, ASA
- Managing director of Acuitas Inc in Atlanta, Georgia
- Experienced practitioner with fair value measurements
- Wrote Fair Value Measurement: Practical Guidance and Implementation 2nd ed. published by John Wiley & Sons; also co-wrote several portfolios on fair value topics published by BNA Bloomberg; wrote "Fair Value Accounting" course published by the AICPA
- Served on several professional committees which developed best practices in fair value including the AICPA’s Accounting and Valuation Guide, Testing Goodwill for Impairment and the Appraisal Foundation’s Contributory Asset Charges monograph
- Member of the AICPA’s FVS Executive Committee as well as the Business Valuation Committee of the American Society of Appraisers
- Conducts a two day workshop twice a year for the AICPA on Fair Value Measurements
- Inducted into the AICPA’s Business Valuation Hall of Fame in 2013
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