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Greater Washington AFP

GWAFP December 2014 Monthly Meeting

  • 10 Dec 2014
  • 12:30 PM - 3:00 PM
  • APLU Washington DC


Registration is closed
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Event sponsored by:



December 10, 2014 Meeting

12:30 - 1:00 p.m.           Buffet Lunch, Welcome and Introductory Remarks.  Annual Meeting and Elections

1:00 - 1:50 p.m.              Topic:”ACH Network Today & Tomorrow

This presentation will provide an update of rules and regulations for domestic and international ACH transactions as well as the roles of NACHA and the Federal Reserve.

Learning Objectives:

  • Discover how new rules and regulations affect both NACHA and Financial Institutions.
  • Learn the changes related to ACH return rules.
  • Learn how the payment system improvements may speed up payments

Speaker: Kimberly W. Rector, AAP, Senior Director of Education for MACHA

Kimberly is the Senior Director of Education for MACHA. She is responsible for providing assistance, education, and training regarding the ACH Network and related payment systems to MACHA's members. Kimberly has twenty-nine years of experience in the financial services industry at both commercial banks as well as credit unions, with a concentration in ACH operations and services. In addition to her day-to-day responsibilities as Senior Director of Education, Kimberly also represents MACHA and its members on several NACHA sponsored Work Groups, responsible for the on-going maintenance and development of new ACH Rules. Kimberly is a graduate of "The Payments Institute" and is an Accredited ACH Professional (AAP).

2:00 - 2:50 p.m.  Topic:  SSAE 16: The New SAS 70-What it is and is not?

Organizations are increasingly outsourcing systems, business processes and data processing to service providers in an effort to focus on core competencies, reduce costs and more quickly deploy new application functionality.  Historically, many organizations have relied upon Statement on Auditing Standards (SAS) 70 reports to gain broad comfort over outsourced activities.  This session will provide an overview of the three types of Service Organization Control (SOC) reports that have been defined by the AICPA to replace SAS 70 and address a broader set of specific user needs, such as addressing IT security, privacy and availability concerns.  This session will also provide details on the Statement on Standards for Attestation Engagement 16, “Reporting on Controls at a Service Organization (SOC 1 report) and the importance of this report to evaluating internal controls over financial reporting

Learning Objectives:

·         Learn three types of SOC reports replacing SAS 70.

·         Discuss user needs such as IT security, privacy and avialability.

·         Learn the importance of Reporting on Controls at a Service Organization (SOC 1) report.

Speaker:  Jim DeVaul, Partner in KPMG Federal Advisory Services

Jim DeVaul, Mr. DeVaul is a Partner in KPMG’s Federal Advisory Services practice.  He has 26 years of experience in leading, managing and performing Information Technology (IT) audits, Information Security reviews and conducting AICPA Statement on Standards for Attestation Engagements (SSAE 16), the replacement for the AICPA Statement on Auditing Standards (SAS) No. 70.   Mr. DeVaul leads KPMG’s Federal Government IT Audit practice and is the firm’s lead partner on engagements involving the FISMA.  He is a member of KPMG’s Task Force to maintain firm-wide guidance for compliance with AICPA’s SSAE 16 (SOC1 reporting) and generally accepted government auditing standards (GAGAS). He is one of the firm’s designated concurring review partners for SSAE 16 (SOC1 reports) and performance audits conducted in accordance with GAGAS.



Please register by December  8, 2014 , using our online meeting registration form (

Members: $35

Non-Members: $55


Course attendance recommended for 1 CPE, CAE or CTP credit per 50 minutes.

Delivery Method: Group-live

Program Level: Intermediate

Prerequisites: No Prerequisites Required

Advanced Preparation: No Advanced Preparation Required

Greater Washington Association of Financial Professionals is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Nashville, TN37219-2417. Website:


Sessions generally will be cancelled only for inclement weather. If the U.S. Government closes due to severe weather, the session will be cancelled.  Every effort will be made to notify registered participants of the cancellation by email. In the event of advance payments, participants may request funds be applied to the next upcoming meeting provided 48 hours of notification are given.

Complaints should be directed to the Education Committee at; if resolution cannot be achieved at this level, the complaint will be reviewed by the Executive Committee.

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For more information:

Contact: Bill Spinnell

Phone: (202) 442-7564


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