Andrew Valverde, audit senior manager at Baker Tilly, US will provide summary of the updates on standards, and some other supplementary materials.

Andrew is an Audit Senior Manager with a demonstrated history of working in public accounting for both publicly held and privately held Companies. Strong audit and accounting professional skilled in Real Estate, Manufacturing/Distribution, Cannabis, Franchising and Employee Benefit Plans. 

Specific Experience

- Serves industry recognized clients with revenues from $10

million up to $500 million in annual revenues.

- Assists clients with adopting new accounting standards,

including ASC 606, Revenue from Contracts with

Customers

- Leads engagement team efforts in matters of technical

difficulty including, but not limited to, business combinations/

asset acquisitions, real estate and other valuations, revenue

recognition, cost/managerial accounting, restructurings,

impairments, and liability/inventory provisions.

- Leads engagement teams with developing procedures to

assess risks and compliance with internal controls over

financial reporting, including evaluation of client programs

compliant with regulations of Sarbanes-Oxley (SOX)

- Manages audit and review engagements for:

- Public and private manufacturing & distribution (M&D)

companies selling products or services.

◦ Industrial equipment

◦ Industrial chemicals

◦ Consumer products and services

◦ Motorized recreational vehicles

◦ Franchisors

- Real estate investment trusts (REITs)

◦ Publicly traded

◦ Public non-traded

◦ Private Funds (Regulation D)

- Private real estate investment funds (Regulation D) and

property audits

◦ Land entitlement-development funds

◦ Commercial funds (fair value reporting)

- Employee benefit plans (401Ks, Pensions, ESOPs)

James Creech, from our Tax Advocacy group, will prepare a segment on IRS hot topics. He will walk through what is currently on the minds of the IRS such as ERC, aircraft, crypto, 5471 reporting, and then jump into a few minutes on what we expect out of Washington in 2025, such as TJCA extenders, IRS and Treasury leadership changes, and the impact of Loper Bright on how we approach areas where we believe the IRS is engaged in administrative overreach.

James Creech is a tax attorney with Baker Tilly’s Tax Controversy team.  He represents clients in a wide range of IRS matters including audits, appeals, and administrative relief requests.  He is a frequent speaker on issues such as the cryptocurrencies, the Employee Retention Credit, and partnership audit procedures.  He has been quoted in the Wall Street Journal, Washington Post, MSNBC, as well as Tax Notes, Bloomberg and Accounting Today.
 

Lastly, we will have a member from our Energy Tax Credit Team (Speaker TBD) regarding currently available tax credit strategies for businesses.
 

We have an Orange County FENG LinkedIn group.  Go to  https://www.linkedin.com/groups/3279301/ in order to join.  We are using it to circulate job leads.