cira - cpa · pdf fileagenda covers examples of cira fraud cases; how compilation and review...

Trillion

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C I R ACommon Interest Realty Associations

Nov. 6-7, 2014 | Orlando

C O N F E R E N C E

Billion Million

Estimated value of homes in

U.S. community associations

Estimated value of homes in

Florida community associations

Estimated number of

people living in Florida

community associations

Number of community

associations in Florida

Florida's state rank for number

of community associations

CIRA Brochure 2014.indd 1 8/11/14 11:30 AM

2 | Common Interest Realty Associations Conference

Florida’s common interest realty association market points to

opportunity and demand for your services.Whether it’s your firm’s specialty or a new line of business, we designed this conference to give you the advantage when seeking and serving community association clients.

The 2014 FICPA Common Interest Realty Associations Conference agenda covers examples of CIRA fraud cases; how compilation and review standards apply to CIRAs; emerging industry issues; technical A&A matters pertaining to CIRAs and much more.

1Source: The 2013 Statistical Review for U.S. Homeowners Associations, Condominium Communities and Housing Cooperatives by the Foundation for Community Association Research; available at www.cairf.org.

CPE CreditThis conference qualifies for 16 hours of CPE credit and is subject to change. CPE credit is subject to approval by the Florida Department of Business and Professional Regulation. Type of credit is dependent upon breakout selection.

@ficpa and use #ficpaCIRAto tweet about this conference.

Follow the FICPA on

This conference was developed in part by the Common Interest Realty

Associations Committee.


2 | Common Interest Realty Associations Conference www.ficpa.org/cpe | 3

CONFERENCE at-a-glanceThursday November 6

8-8:30 a.m. Introduction and Opening Remarks

8:30-9:20 a.m. Specific CIRA Fraud Cases

9:20-10:10 a.m. Homeowner Fraud

10:30-11:20 a.m. Internal Controls

11:20 a.m.-12:10 p.m. Considerations for Cloud Computing

1-1:50 p.m. Affordable Care Act Update

1:50-2:40 p.m. Reserve Study Concepts for CPAs

3-3:50 p.m. A&A Update

3:50-4:40 p.m. Comp and Review Update

Friday November 78-8:50 a.m. DBPR Update and Current Issues

8:50-9:40 a.m. Emerging CIRA Issues

10-11:45 a.m. Breakout 1: Case Study – Phase 1

10-10:50 a.m. Breakout 2: Interactive Discussion: Advanced AA topics

10-10:50 a.m. Breakout 3: Lecture: Reserves Defiencies and Practical Applications

10:55-11:45 a.m. Breakout 4: Interactive Discussion: Advanced Tax Topics

10:55-11:45 a.m. Breakout 5: Lecture: Florida Time Share Finanical Performance Study

12:45-2:25 p.m. Breakout 6: Case Study – Phase 2

12:45-1:35 p.m. Breakout 7: Interactive Discussion: Hot CIRA Topics

12:45-1:35 p.m. Breakout 8: Lecture: Peer Review – It’s Coming…What Do I Need to Know?

1:40-2:30 p.m. Breakout 9: Interactive Discussion: Budget Process

1:40-2:30 p.m. Breakout 10: Interactive Discussion: Financial Reporting and Budgeting Deficiencies in Time Shares

2:45-3:35 p.m. Multi Generations: How to Make It Work?

3:35-4:25 p.m. Dos and Don’ts of Auditor Communication



THURSDAY November 67:30-8 a.m.Registration & Continental Breakfast

8-8:30 a.m.Introduction and Opening Remarks

8:30-9:20 a.m.Specific CIRA Fraud Cases (1 AA)Bill Michaelson, CPAFirm Owner and President / Michaelson & Co., P.A.West Palm BeachThis session will be a discussion of actual fraud cases in community associations. The discussion will include how the frauds were perpetrated; how they were discovered; the ultimate resolution to the fraud; and what could have been done to prevent the frauds from occurring.

9:20-10:10 a.m.Homeowner Fraud (1 TB)Michael StevensDetective / Orlando Police DepartmentOrlandoand Hilary BledsoeDetective / Orlando Police DepartmentOrlandoHear about local Orlando frauds and scams in timeshare from two detectives from the Orlando Police Department’s Economic Crimes Unit.

10:30-11:20 a.m.Internal Controls (1 TB)Cecil Patterson Jr., CPA, MBAPatterson CPA Group, Inc.Ponte Vedra BeachIs a CIRA a not-for-profit entity or a commercial entity? What are the correct Internal Control Policies and Procedures for a CIRA? Do the COSA standards apply to CIRAs? What areas in CIRA accounting and auditing issues present the most problems and technical challenges? How should

professionals address these issues? Who is responsible for Internal Controls?

11:20 a.m.-12:10 p.m.Considerations for Cloud Computing (1 TB)Stuart C. RosenbergPresident / WhiteOwlMiamiWhat should you know about doing business in the cloud? From Office 356, SAAS vs hosted solutions, Microsoft Azure and Amazon Web Services-what direction should you take to sleep at night.

1-1:50 p.m.Affordable Care Act Update (1 TB)Robert A. “Robin” Word Jr, CPATax Manager / Averett Warmus DurkeeOrlandoLearn the newest developments related to the Affordable Care Act, including individual and employer mandate updates as well as frequently asked questions by clients.

1:50-2:40 p.m.Reserve Study Concepts for CPAs (1 TB)David T. Schwindt, CPA, RS, PRAPresident / Schwindt & CompanyPortland, ORThe inclusion of reserve information in financial statements requires CPAs to have a basic understanding of the reserve study process. This presentation will include elements of a reserve study; national CAI standards; Florida State Statute requirements; how to read the reserve study; financial statement disclosure requirements; and effective management letter comments and consulting.

CONFERENCE SCHEDULE



CONFERENCE SCHEDULE

3-3:50 p.m.A&A Update (1 AA)Cecil Patterson Jr., CPA, MBAPatterson CPA Group, Inc.Ponte Vedra BeachThis session will be a selected review of current GAAP, GAAS, SSARS and other pronouncements that impact Common Interest Realty Associations. Get a quick review of the most difficult and frequently-found accounting and auditing issues in Common Interest Realty Associations (CIRAs).

This program reviews new FASB pronouncements, new SASs and new Compilation and Review issues that will be used in a CIRA engagement. Engagement letters, reporting, reserve and turnover situations for residential and commercial condominium associations (condos) and

homeowners’ associations will be covered. We also will discuss any newly-issued Florida Statutes or FACs.

3:50-4:40 p.m.Comp and Review Update (1 AA)Keith A. Jowers II, CPAPartner / Carr, Riggs & Ingram, LLCMiramar BeachThis session will provide an overview of compilation and review standards (SSARS) and how they apply specifically to CIRAs. The presenters will focus on recent changes to the SSARS, upcoming developments and what types of documentation would typically be expected in a CIRA compilation or review engagement.



FRIDAY November 78-8:50 a.m.DBPR Update and Current Issues (1 TB)Patrick W. Flynn Government Analyst II / State of Florida Department of Business & Professional RegulationsTallahasseeThis year DBPR is amending rules that will affect condo association, come find out the details.

8:50-9:40 a.m.CIRA Emerging Issues in Florida Legislature (1 TB)Jennifer J. Green, CAE, DPLPresident / Owner / Liberty Partners of Tallahassee, LLCTallahasseeandJustin A. ThamesGovernmental Affairs Manager / FICPATallahasseeThis session will discuss emerging issues affecting condominium and homeowners associations, including 40-year inspection requirements, association documents and HUD requirements.

10-11:45 a.m.Breakout 1: Case Study – Phase 1 (2 AA)Keith A. Jowers II, CPAPartner / Carr, Riggs & Ingram, LLCMiramar BeachThis session will cover the basics of audit planning and risk assessment through the typical substantive procedures performed in a CIRA audit.

10-10:50 a.m.Breakout 2: Interactive Discussion: Advanced AA Topics (1 AA)Lena G. Combs, CPA, CGMAPrincipal/Shareholder / Averett Warmus DurkeeOrlandoandDavid J. Hochsprung, CPAPartner / Cavanaugh & Co, CPA, LLPSarasotaThis session is a roundtable format for discussion of advanced and technical A&A matters as they pertain to CIRAs. From disclosures to presentation to complex accounting matters, join us in a lively discussion with your peers about the types of issues that are being encountered in the industry. Bring your own questions to submit to the group for discussion and get the opinions of the professionals in the room.

10-10:50 a.m.Breakout 3: Interactive Discussion: Reserves Deficiencies and Practical Applications (1 AA)Nicole K. Johnson PendergrassDirector of Operations / Hafer & Company Certified Public Accountants and ConsultantsPalm Beach andKevin M. Payne, CPAShareholder / Proctor, Crook, Crowder & Fogal, PAStuartThis roundtable discussion will center on reserve deficiencies in financial statements and practical examples.



10:55-11:45 a.m.Breakout 4: Interactive Discussion: Advanced Tax Topics (1 TB)Laura M. Barbery, CPA, MSTPartner / Barbery & Associates, CPA, IncLake MaryandPercy J. Legendre III, CPAManaging Partner / Bashor & Legendre, LLPTampaThis will be an open forum to discuss current CIRA-related tax issues.

10:55-11:45 a.m.Breakout 5: Lecture: Florida Time Share Finanical Performance Study (1 AA)Lena G. Combs, CPA, CGMAPrincipal/Shareholder / Averett Warmus DurkeeOrlandoThis session will discuss the financial trends of timeshare associations in Florida over the past 10 years and will provide financial benchmarks as a result of the analysis data.



FRIDAY November 7 (continued)

12:45-2:25 p.m.Breakout 6: Case Study – Phase 2 (2 AA)Keith A. Jowers II, CPAPartner / Carr, Riggs & Ingram, LLCMiramar BeachThis session will be a continuation of the Case Study Phase 1. We will complete our discussion of the typical substantive procedures performed in a CIRA audit and cover the basics of the audit completion process, including typical audit procedures and client deliverables.

12:45-1:35 p.m.Breakout 7: Interactive Discussion: Hot CIRA Topics (1 TB)Steven M. Gladstone, CPAOwner / Gladstone & Company, CPAsSunriseandDonna R. Seidenberg, CPADirector / Fuoco Group, LLCBoca RatonJoin us for an interactive discussion on some of today’s hottest CIRA topics, and frequently found accounting and auditing issues, including foreclosures and bad debt, rental income from association owned units, turnover, special assessments, loans and related expenses, and more.



12:45-1:35 p.m.Breakout 8: Lecture: Peer Review: It’s Coming…What Do I Need to Know? (1 AA)Cecil Patterson Jr., CPA, MBAPatterson CPA Group, Inc.Ponte Vedra BeachWho is covered by the new Florida Statutes on Peer Review? What should the CPA expect in the first Peer Review? How can the CPA prepare for the first Peer Review? What dates are to be reviewed? What engagements will be reviewed? Who do we contact for information? Will the Florida Board of Accountancy receive a copy of the Peer Review?

1:40-2:30 p.m.Breakout 9: Interactive Discussion: Budget Process (1 AA)Laura L. GelmanPartner / Rogers Wood Hill Starman Gustason, Inc.Marco IslandandPatricia O. Gordon, CPAOwner / Patricia O. Gordon, CPAPalm BeachBe a part of this interactive discussion covering budget meeting requirements according to Florida Statutes and documents and the correct presentation of the pooling of reserves, including the formula to use as well as the format for budget presentations. You’ll receive examples of good and bad budgets.

1:40-2:30 p.m.Breakout 10: Lecture: Financial Reporting and Budgeting Deficiencies in Time Shares (1 TB)Patrick W. Flynn Government Analyst II / State of Florida Department of Business & Professional RegulationsTallahasseeThis session will discuss financial statements, budgets, ad valorem tax statements and much more.

2:45-3:35 p.m.Multi Generations:How to Make It Work? (1 TB)TBAThere are four generations vying against each other in today’s workplace. The sounds of generational conflict can be heard around the water cooler, at the cafeteria table and over coffee. Who are they and what makes them tick? What do they think of each other? And more importantly, how can they all work together?

3:35-4:25 p.m.Dos and Don’ts of Auditor Communication (1 AA)C Michael Halfast, CPAProfessional Liability Specialist / Risk Avoidance Managers, IncSt. PetersburgandDuncan B. Will, CPA/ABV,CFF, CFEA&A Loss Prevention Specialist / CamicoSan Mateo, CAComments or communication, especially those in writing, can create liability for the auditor. Learn what you should and should not say to your client (or third parties) when auditing a CIRA entity.



CONFERENCE Info2013-2014 CIRA CONFERENCE Committee

Lena G. Combs, Chair

CONFERENCE SITE and AccommodationsRosen Centre Hotel9840 International DriveOrlando, FL 32819

FICPA Room Rate: $119.00; Additional Person $20.00

Hotel Cutoff Deadline:Friday, October 3, 2014Reservations made after the cutoff date will be subject to availability and current room rate.

For reservations, please contact the Rosen Centre Hotel directly at 1-800-204-7234. Be sure to mention the FICPA Common Interest Realty Associations Conference to receive the special group rate.

CONFERENCE EZMaterialsAre you using all of the FICPA Conference EZMaterials advantages?

• Available in Advance – Download the EZMaterials PDFs to your laptop, tablet or other device seven days before the event.

• Searchable – Save time by jumping right to a subject – no more flipping through pages or reading extra.

• Portable – Upload your materials to the cloud or save to a flash drive and access anywhere.

• Green – Help preserve our beautiful planet by saving paper.

More convenient, greener and so much EZer!

GROUP DISCOUNTS AvailableRegister five or more people from the same organization and receive special group discounts! Restrictions may apply. For more information, visit www.ficpa.org/policies.

DID YOU Know…You can apply your nonmember fee from this event towards an FICPA membership. Visit www.ficpa.org/policies for more details and an application.

CPE POLICIESyou may need to knowCPE policies may be found on our website at www.ficpa.org/policies or on the confirmation sent upon completion of registration.

Laura M. BarberyMark E. BrechbillKevin J. Carlson

Amelia C. CooperRonald A. DiCrescenzo

Carol EskewJohn F. Fesh

Laura L. GelmanSteven M. Gladstone

Patricia O. GordonPaul F. Imboden

Nicole K. JohnsonKeith A. Jowers, II

Cecil “Pat PattersonKevin M.Payne

Donna R. SeidenbergGuy Strum

CONFERENCE SPONSOR



REGISTRATIONways to register for FICPA CPE Programs

4Internet www.ficpa.org/cpe • Fax (850) 681-2433 • Call (800) 342-3197, or (850) 224-2727

Mail Continuing Professional Education, FICPA, P.O. Box 5437, Tallahassee, FL 32314-5437

1 CONTACT INFORMATIONName ____________________________________ FICPA Member No. ____________________________

Firm ____________________________________________________________________________________

Address ___________________________________ City/State/ZIP ________________________________

Telephone (________) ________________________ E-Mail ______________________________________

m In accordance with ADA requirements, if you are disabled and require special services, please check here. Someone from our office will contact you.

3 METHOD OF PAYMENT

Cardholder Name _________________________________________________________________________

Signature ______________________________________ Exp. Date __________________________________

m Check enclosed in the amount of $ ___________.

m Please charge my company-issued credit card:

m Please charge my personal credit card:

m VISA m MasterCard m American Express m Discover

Card Validation Code: (3 or 4 digit code located on the credit card)

Common Interest Realty Associations Conference (CIRA) Member Price Nonmember Price

Early Bird Price* $450 $700

Regular Price (as of 10/27/2014) $505 $755

2 PRICING

Subtotal $ ___________________

Total $ _____________________

Friday, November 7, 2014 – Choose one breakout per time slotYou will be automatically registered for all General Sessions. Please check one breakout session for each time slot indicating the concurrent session you wish to attend.

10:00-10:50 a.m. m BO1 m B02 m BO3 10:55-11:45 a.m m BO4 m B05

12:45-2:25 p.m. m BO6 m B07 m BO8 1:40-2:30 p.m. m B09 m B1O

The FICPA is not responsible for checks or registrations delayed or lost in the mail.

*Take advantage of the Early Bird Price by registering more than 10 days before the course date and receive $55 off the Regular Price.

** Nonmembers of the FICPA must add an additional $125 per day of instruction to the registration price. Save money and apply this fee to your FICPA membership fees. Visit www.ficpa.org/cpe for more details.

m Check here if registration reflects an address change.m Check the following box(s) to receive membership information for: m Florida CPA/PAC m FICPA Educational Foundation


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cira - cpa · pdf fileagenda covers examples of cira fraud cases; how compilation and review...

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