2019 Crowe Virtual Retail & Restaurant Symposium: Issues and insights

2019 Crowe Retail and Restaurant Virtual Symposium: Issues and insights

Discover how leading retail and restaurant organizations are evolving their risk management plans

Location: Webinar
Start date:

5/2/2019 12:00 PM Eastern

End date:

5/2/2019 3:20 PM Eastern

Services: Transaction Services, Benefit Plan Audit, Business Risk, Regulatory Compliance Risk, Technology Risk, Federal Tax, State and Local Tax
Industries:
2019 Crowe Virtual Retail & Restaurant Symposium: Issues and insights
Event details

Professionals in today’s retail and restaurant industries are facing challenges like never before, due in part to greater competition, tighter margins, and increasing customer expectations. Compounding these hurdles is an array of changing compliance obligations. 

With so many issues involved, it can be difficult for leaders to determine how to spend time and resources to make the most significant impact. During this special Crowe online event, we will explore innovative strategies – developed by leadership within some of the most successful retail and restaurant brands – that specifically address these diverse requirements.
In our virtual symposium, you will have the opportunity to participate in focused sessions that will cover:

  • PCI compliance case studies that spotlight leading practices, the impact of technology in this area, and what’s next for the industry
  • The effects of the Supreme Court’s South Dakota v. Wayfair Inc. decision on companies, including changes required for internal processes and the personal responsibility some states are putting on financial professionals
  • The impact of the new lease accounting standard, how technology is streamlining compliance, and risks and opportunities organizations may be overlooking
  • Changing threats in cybersecurity, as well as how enterprises are managing risks related to employees, consumers, and franchises

From the technical breakout sessions addressing the topics listed above to the closing panel, this event is designed to help you and your organization thrive even as regulations and external threats become more complex.

Register now

Session lineup

Opening keynote: Gaining and Sustaining Credibility: How to Earn the Trust and Confidence of Others

Bill Watts
Principal, Risk Consulting
Crowe

Don Levonius 
Certified speaker and master facilitator

Breakout sessions

Are Vendors Clouding Your PCI Responsibilities?
Cybersecurity Beyond PCI Compliance
Revisiting Wayfair: Downstream Impacts of the New Sales Tax Nexus Standard 
Lease Accounting Standard Rollout at the Mid-Point: What We’ve Learned and Where We Are Going

Closing keynote

Managing the Continuum of Change and Where We Go From Here
Issues and Insights Panel Discussion: Featuring speakers from renowned retail and restaurant brands
 

Continuing professional education

This session is recommended for up to 3.0 hours of CPE credit.

Additional CPE information 

Advance preparation: None 
Prerequisites: None 
Program level: Basic 
Field of study: See session descriptions 
Delivery method: Group internet 

Contact information

For additional information please contact Hannah Schierbeek.

Opening session

Gaining and Sustaining Credibility: How to Earn the Trust and Confidence of Others

Credibility is about earning the trust and confidence of others. People with credibility know how to influence others, unify groups, and instill confidence – even in the midst of uncertainty. Those without credibility simply cannot. If you want others to recognize you as a person of character, a trusted advisor, and an admirable leader – learn how to gain and sustain credibility.
 
As a result of participating in this session you will:

  • Identify qualities people admire in leaders they choose to follow
  • Explain how conviction, commitment, and action affect credibility
  • List principles proven to help leaders gain and sustain credibility
  • Create an action plan to immediately implement credibility principles 

Join us for the opening session to gain tangible leadership insights on gaining and sustaining credibility in today’s fast-paced evolutionary environment.

Track 1 - Session 1: Are Vendors Clouding Your PCI Responsibilities?

Are Vendors Clouding Your PCI Responsibilities?
 
In today’s world of cloud computing, there is a substantial amount of misconception as to who owns the PCI compliance responsibility.  Making matters more complex, it may not be the same in every organization.  With more scrutiny than ever on PCI compliance, organizations must have a clear understanding of their internal processes for data management, compliance, and review – including those of third-party vendors.

As a result of participating in this session you will be able to:

  • Identify current internal processes for cardholder data management and compliance throughout your organization
  • Recognize joint responsibilities and outsourced relational involvement as it relates to cloud computing
  • Identify areas of focus and how to maximize your compliance efforts
  • Articulate the reputational risk associated with PCI compliance failure and the downstream financial impacts they may have
  • Map out a holistic compliance effort

Your organization may be thinking only of the technical side of cloud computing and could be just scratching the surface.  Join us to see how your organization may be able to get a pulse of what you could be doing to better identify and understand potential risks along the way.

Program level: Basic
Prerequisites: None
Advance preparation: None 
Field of study: Specialized knowledge

Track 2 - Session 1: Revisiting Wayfair: Downstream Impacts of the New Sales Tax Nexus Standard

Revisiting Wayfair: Downstream Impacts of the New Sales Tax Nexus Standard
 
Now that the dust has settled around the Wayfair decision and state-by-state requirement compliance efforts are in full swing, new challenges and complexities are emerging. Executives need to be aware of the penalties for negligent and intentional failure to collect the tax as well as the states in which they may be held personally liable for uncollected sales taxes including New York. This webinar will address a variety of evolving challenges relating to Wayfair and examine how leading organizations are dealing with the new compliance standards.

As a result of participating in this event, you should be able to:

  • Identify and address challenges for organizations related to the change in sales tax and remittance landscape
  • Recognize compliance responsibilities, potential personal liabilities, and the interplay with Amazon and other marketplace facilitators
  • Evaluate possible areas of focus within collection and remittance for your organization. 

Multi-jurisdictional compliance can be costly and complex, particularly now that Wayfair has made physical presence irrelevant. Fortunately, Crowe has the knowledge and expertise to provide clarity to the new compliance standards and what is required of your organization. Join us to learn more.

Program level: Basic
Prerequisites: None
Advance preparation: None 
Field of study: Tax

 
Track 1 - Session 2: Cybersecurity Beyond PCI Compliance

Cybersecurity Beyond PCI Compliance
 
When it comes to managing cybersecurity threats, compliance is not a destination but a stop on the journey. For organizations that interface with customers directly such as retailers and restaurants, the evolutionary nature of new technologies that make the consumer experience better and backend processes more efficient may also be injecting new IT risks into the organization. While many organizations are focused on compliance (primarily with PCI), they may be missing significant threats in other parts of the business, including a dynamic workforce, proper segmentation of store, corporate and PCI systems, as well as the growing number of network-connected devices in stores belonging to consumers, employees, or the organization. 

As a result of attending this session, participants will be able to:

  • Identify top cybersecurity risks of focus for the next two years
  • Define specialized areas of review that go beyond traditional assessments such as network penetration testing
  • Implement effective and targeted cybersecurity training of your workforce
  • Evaluate your organization’s detective controls to better identify and investigate potential breaches

This session will go beyond PCI compliance to assess key areas of risk to your operations, distinguish top priorities for leaders today, and relate important cybersecurity steps you need to take in the weeks and months ahead. It will also examine specific threats to these business areas and provide actionable strategies for addressing them.

Program level: Basic
Prerequisites: None
Advance preparation: None 
Field of study: Specialized knowledge

Track 2 - Session 2: Lease Accounting Standard Rollout at the Mid-Point: What We’ve Learned and Where We Are Going

Lease Accounting Standard Rollout at the Mid-Point: What We’ve Learned and Where We Are Going
 
Whether yours is a private or public company, the adoption of the FASB’s ASU No. 2016-02 on Leases is now a reality for your organization. Public companies have moved from adopting to maintaining and better understanding the changes to their operations, while private companies look to use lessons learned from their peers that walked the road ahead of them as they get their efforts underway to comply by December 2019. With a narrowing of the Lease Accounting Standard’s scope by the FASB in late 2018, it is time to examine how leaders in the retail/restaurant sector are doing, what work is left, and how they are using technology to streamline their efforts.

As a result of participating in this session you will be able to:

  • Interpret the new standard and the impact of advanced aspects such as embedded leases
  • Recognize the role that technology can play in managing the process, as well as what it cannot do for your team
  • Map out your compliance efforts, estimate required time, and assess gaps in your current staffing 
  • Identify possible areas of audit focus and how to maximize your compliance efforts
  • Distinguish ways to gain ROI while complying with the new standard

Getting organized with your organization's leases is just the starting point and may only get you half way to your compliance goal. Join us to see how you can maximize your team’s efforts, streamline the process of starting, and stay compliant with the new lease accounting standard.

Program level: Basic
Prerequisites: None
Advance preparation: None 
Field of study: Accounting


Closing keynote 

Managing the Continuum of Change and Where We Go From Here

Setting the stage for what’s next, Crowe’s 2019 Retail and Restaurant Virtual Symposium wraps up with a distinguished panel of industry leaders sharing their insights on challenges facing the profession. Facilitated by Crowe’s Industry Leader Bill Watts, the session will explore perspectives from subject matters experts in internal audit, risk management, and information technology on lease accounting, Wayfair, cybersecurity, and PCI compliance.
 
Featured special guest:
 
Chris Schmidt, IT Director - Denny’s
What you need to know: Founded in 1953, operates more than 1,700 locations worldwide (corporate and franchise operations), with yearly revenues over $630 million

 
After attending this session, you will be able to:

  • Articulate key risks facing the industry and what leading organizations are doing to prepare.
  • Outline opportunities predicted to enhanced operations and customer experiences in the year ahead.
  • Develop a critical conversation checklist to assess gaps in current approaches to leases, Wayfair, cybersecurity, and PCI compliance.

This panel discussion is your chance to rub elbows with peers at the top of their game and hear their thoughts and insights on vital issues facing the retail and restaurant industry.

Program level: Basic
Prerequisites: None
Advance preparation: None 
Field of study: Specialized knowledge

Contact Information

For additional information please contact Hannah Schierbeek.