Newswise — Irvine, CA - (October 04, 2019) – The University of California, Irvine’s Paul Merage School of Business is holding their annual Audit Summit on Oct. 4, a half-day educational summit for audit committee members, board members, senior management, and audit professionals.
The 2019 Audit Committee Summit allows company leaders and audit committee members to exchange ideas and receive important updates from key government agencies such as the U.S Securities and Exchange Commission (SEC) and the Public Company Accounting Oversight Board (PCAOB).
The summit, held at the Pacific Club in Newport Beach, kicks off with a keynote discussion with leaders from the PCAOB and the SEC moderated by the Merage School’s Academic Director of the Master of Professional Accountancy Program Patricia Wellmeyer. This will be followed by two panel discussions addressing top current and emergency issues impacting the important work of audit committees, including Critical Audit Matter disclosures, and effective practices for audit committee and board oversight of data privacy and cyber-risk management.
“At the Merage School, we are committed to hosting unique events that probe a wide-range of complex issues in an era of digital transformation” said Dean Eric Spangenberg. “Audit committees across the globe are preparing for the impact of cyber threats and the Merage School will remain at the forefront of these developments.”
This keynote discussion will feature Kathleen Hamm, PCAOB board member, and Marc Panucci, deputy chief accountant for the SEC.
Hamm’s work with the PCAOB has helped shape the organization’s five-year strategic plan which includes enhancing audit quality, driving transparency, and preparing for the effect of emerging technologies. She will discuss the way data analytics will fundamentally change how financial information is reported and audits are conducted.
Panucci has more than 22 years of public accounting, standard-setting and regulatory experience. He leads the Office of the Chief Accountant’s Professional Practice Group, which requires a deep understanding of investor and audit committee perspectives.
The subsequent panel discussions will address recent legislative developments and SEC and PCAOB initiatives. Both panels will explore the topics of cyber-risk and lessons learned from recent privacy breaches.
“Emerging technology is providing companies and their auditors with unprecedented access to a wealth of data and analytical tools. While leveraging new technologies and data streams affords greater insights into all aspects of a company’s business, doing so exposes firms to a host of new risks involving data privacy and cyber breaches,” warns Wellmeyer, who also serves as a clinical professor of accounting with the Merage School.
“Management’s ability to manage these risks through internal controls and effective risk management is a significant issue that has justifiably emerged at the top of many audit committee agendas.”
Summit attendees will receive four hours of CPE credit. Learn more and register at https://merage.uci.edu/events/2019/10/audit-summit-2019.html.
About The Paul Merage School of Business
The Paul Merage School of Business at UC Irvine offers four dynamic MBA programs – plus PhD, specialty masters and undergraduate business degrees – that prepare business leaders for our digitally driven world. Through our programs, students acquire the exceptional ability to grow their organizations through strategic innovation, analytical decision-making, digital information technology and collaborative execution. While the Merage School is relatively young, it has quickly grown to rank consistently among the top five percent of all business programs worldwide through exceptional student recruitment, world-class faculty, a strong alumni network and close relationships with both individual business executives and global corporations. Additional information is available at merage.uci.edu.
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