Just two days before the 24th Annual SEC “Hot Topics” Conference presented by the Cal State Fullerton College of Business and Economics, the federal government shutdown prompted the cancellation of keynote speaker and SEC Commissioner Hester Pierce. The rapid developments underscored the dramatic regulatory and technological changes transforming accounting, auditing and compliance in 2025.
From a new administration in Washington to a serious trade war to the rise of AI and cryptocurrency, the business world is rapidly changing, and the Oct. 3 event provided a versatile introduction through panel discussions and expert speakers from both the public and private sectors.
The Shifting Regulatory World of 2025
Brian Lane, partner of Gibson Dunn, filled in for Pierce to provide an introduction to the changes in the SEC, followed by a look at changes in financial accounting standards by Mary Mazzella, assistant director of the nonprofit Financial Accounting Standards Board. After discussing the government shutdown and predicting it might last weeks but will ultimately be transient, Lane focused on the new priorities of the SEC under the new administration, noting the need for more simplified disclosure considering the increase in bureaucracy over the past three decades. “There will be more focus on what investors need to know,” said Dunn. “I don’t think the commission is fond of such complex rules as it’s currently constituted.”
The president’s proposal of twice annual as opposed to quarterly reporting was also discussed, with a snap poll of attendees showing 40% blanket approval and 40% approval for small businesses only. Only 20% of attendees were opposed.
“Quarterly projections encourage short term planning instead of long-term planning,” said Lane. “But there will be resistance from the accounting profession and law firms.”
Disclosure regime for cryptocurrency tokens was discussed, recognizing that there is much movement ahead to make crypto an asset that investors and corporations can hold.
Crypto, Tax and Trade Updates
In years to come, leveraging AI and cryptocurrency in a safe and responsible manner will be front and center for accounting and finance professionals. Attendees of the SEC Conference heard from Bill Dummett, chief privacy officer of Genesys; Nicolas Dumont, vice president and director of Lockton; Jack Karagulleyan, tax principal and co-leader of BDO’s National Digital Asset Practice; Akemona CEO Ravi Srivastava; and Frances Waldmann, a partner at Gibson Dunn, all professionals on the cutting edge of this revolution.
Tax changes wrought by the Big Beautiful Bill and other federal and state changes were the topic of a discussion that included former IRS Commissioner Charles Rettig, along with Gibson Dunn attorney David Horton and Lineage Cell Therapeutics CFO Jill Howe. Rettig provided highlights of leading the nation’s tax agency, including how he oversaw the prosecution of illegal activities such as illicit drug trafficking, terrorism and sex crime networks.
Finally, a discussion on the supply chain impacts of tariffs and the trade war featured EY Global Trade Partner Lynlee Brown; Zulema Garcia, a partner at CNM; and Deloitte global trade leader Kirti Jadeja. The moderator will be Chip Morgan, managing director and international tax services for BDO.
“The SEC Conference illustrates how the college continues to foster thought leadership that supports and informs the business community,” says Dean Sri Sundaram. “It also demonstrates our commitment to excellence in business and accounting education and connects our students and faculty with leaders who are shaping the future of the profession. By engaging with our partners, alumni, and policymakers, we continue to promote the innovation that prepares our students to thrive in a rapidly changing world.”
Vivek Mande, co-director of the Center for Corporate Reporting and Governance which presented the event and director of the School of Accountancy, says that the event exemplifies the impact and outreach of accounting education at CSUF. “Our faculty are world-class, our research is top-notch, and our industry partnerships are vast, to the benefit of the community as well as the students. At our annual conference, we see the culmination of a year of hard work and dedication, as we achieve a goal of being the accounting and tax education leader of the West Coast,” he says.
About the Center for Corporate Reporting and Governance
Since 2003, the Center for Corporate Reporting and Governance has brought together policymakers, professionals and students for the SEC “Hot Topics” Conference, as well as the Haskell & White Academic Conference held the week before this major annual event.
Through thought leadership, professional development and support for academic programs on accounting compliance, the center is at the forefront of the college’s commitment to tech-focused accounting education.
The college’s status as the only dual accredited business school in both business administration and accounting in Orange County testifies to this commitment.
For more information, contact the center or explore our articles on corporate reporting, including coverage of past conferences.
