Getting internal audit up-to-speed on income taxes 


Client challenge

A large, regional bank came to us needing in-depth training on ASC 740 Accounting for Income Taxes for their internal audit department. The catch? It needed to be rolled out in a matter of weeks, not months, prior to their professionals going out to the field to conduct their audits.

No problem. We’ve got options! Did they want a live, synchronous learning solution delivered on-site or via webinar? Or did they prefer an asynchronous learning solution like eLearning, purchasing bulk licenses to our online course collection, ASC 740 Accounting for Income Taxes?   

Ultimately they chose the webinar option because they desired tailored training and wanted the class discussion created by a live facilitator, but didn’t want to take their people away from their jobs for an all-day, in-person training.


Our solution

Using existing ILT content from our dynamic library and excerpts from their annual report, we quickly developed two, 2-hour webinars tailored to the bank, that provided a “deep dive” into the accounting for income taxes under ASC 740.

Webinar #1

  • Introduction to ASC 740
  • Current tax provision
  • Uncertainty in income taxes
  • Applicable tax schedules and financial statement disclosures
  • Workshop: Risks and related audit procedures

Webinar #2

  • Deferred taxes and related valuation allowance
  • Applicable tax schedules and financial statement disclosures
  • Workshop: Risks and related audit procedures
  • Highlights of recent U.S. tax reform

We scheduled the webinars two weeks apart. This gave participants tims to reflect on the information in the first webinar and how it would impact their audits prior to receiving more information. No need for information overload when it comes to income taxes!

We used the GoToWebinar platform and two expert facilitators, along with a producer, to monitor questions from the participants, in order to deliver the CPE-compliant webinars to their internal audit department – just prior to them starting their audits. Talk about just-in-time training! 

Participants received the slides, solutions to the mini cases, and a marked-up copy of their annual report highlighting the disclosures required by ASC 740. We also provided the bank with a mp4 video file of the recorded webinar for upload onto their LMS, giving the people who were unable to attend the live webinar access to the information.


Their transformation

The training was clearly a hit hit based on the participants’ responses when asked “What did you like about the webinars and why?”

  • Facilitators made the topic more enjoyable and engaging
  • Dual windows of presenters talking and the slides
  • Interaction and practical application of the standard
  • Participation in exercises via polling questions
  • Presenters were very energetic and fun to watch

We weren’t surprised, since our webinars consistently receive great feedback.

And when ASC 815 Derivatives and Hedging was amended, the bank came back for more training for their internal audit department! Are you looking to get your internal audit or accounting departments up-to-speed on a specific accounting topic? Let’s talk!

Cookies on the GAAP Dynamics website

To give you the best possible experience, this website uses cookies. By continuing to browse this website you are agreeing to our use of cookies. For more details about cookies and how to manage them, please see our privacy policy.