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Retail Industry Leaders Association (RILA)

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Retail Litigation Center Names Walgreens General Counsel to Board of Directors
Today, the Retail Litigation Center (RLC) announced that Elena Kraus, senior vice president & general counsel of Walgreens, had been elected to its board of directors.

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Title = Retail Finance Execs Meet for Benchmarking, Hot Topics FileRef = /news/retailcheckout/Lists/Posts/367_.000 Author = Caroline Stec (Contact) Editor = Caroline Stec (Contact) FSObjType = 0 PermMask = 0x7fffffffffffffff ProgId = File_x005F_x0020_Type = Body = <div class="ExternalClass0802E1B3D37548DC83E4FB5248B75BCF">This summer, RILA brought together chief accounting officers, treasurers, and controllers for its Finance Leaders Council (FLC) meeting at Target Corporation's headquarters in Minneapolis. The annual two-day meeting is an opportunity for retail industry finance leaders to connect with peers and discuss top-of-mind issues facing the industry.An executive spotlight session featuring Target's Chief Finance Officer Cathy Smith provided insight into the ongoing transformation of the retail industry and the evolving important role of finance leaders in supporting companies' efforts.  <img src="https://fonteva-customer-media.s3.amazonaws.com/00D61000000dOrPEAU/aDDbopfD_2018-06-28%20FLC%20Meeting.jpg" alt="" style="margin:5px;width:350px;height:263px;" /> RILA's Kathleen McGuigan with Target Chief Finance Officer Cathy Smith This year's meeting featured relevant updates from RILA's government affairs experts on current public policy issues significantly impacting retailers including trade, payments, and tax policy. In addition, RILA's Senior EVP and General Counsel Deborah White and MultiState Associations CEO and Principal Joe Crosby provided an update and insights on the US Supreme Court's recent decision in the South Dakota v. Wayfair case. For more information on the case and RILA's efforts, read the Wall Street Journal's feature <a href="https://www.wsj.com/articles/retailers-careful-strategy-to-overturn-sales-tax-precedent-1529691546">here</a>. Attendees also heard from FLC sponsor Ernst & Young (EY) on the hot topics in international and state tax, led by EY Tax Partners Jill Schwieterman and Jason Phillips. <img src="https://fonteva-customer-media.s3.amazonaws.com/00D61000000dOrPEAU/YcFLkxdX_photo7.jpg" class="ms-rtePosition-4" alt="" style="margin:5px;width:350px;height:263px;" /> Attendees heard directly from several Target finance executives including Bob Harrison, Matthew Liegel, Katy Hill, Laurie Kwapick, and Michael Ryan in a case study presentation on lessons learned from an early adopter of Financial Accounting Standards Board Accounting Standards Codification (ASC) 842 (Leases). Representatives from EY's Financial and Accounting Advisory Services, Bob Malinowski and Julie Kunkel, also led discussions on ASC 842 including impairment, separating lease/non-lease components, embedded leases, and practical considerations for adoption and implementation. Mindy Dragisich, partner in EY's assurance practice and Katie Neibert, senior manager of assurance at EY provided an update on SEC comment letter and restatement themes. Ms. Neibert later shared a presentation on Service Organization Controls Report (SOC 1) and the audit implications of qualified reports.  <img src="https://fonteva-customer-media.s3.amazonaws.com/00D61000000dOrPEAU/SEqFyAqq_photo15_target%20team.jpg" alt="" style="margin:5px;width:350px;height:263px;" /> RILA's Kathleen McGuigan with Target team RILA members often find the opportunity to discuss issues of importance candidly with industry peers to be one of the most valuable aspects of attending member meetings. The FLC meeting featured two robust benchmarking sessions covering a variety of topics, including automation and technology in finance, NGOs and sustainability disclosures, hiring and retaining qualified and diverse staff, the GAAP/non-GAAP impact of tax reform, and more.To learn more about this meeting or to get involved with RILA's Finance Leaders Council, please contact RILA Senior Vice President and Deputy General Counsel <a href="mailto:kathleen.mcguigan@rila.org">Kathleen McGuigan</a>. </div> File_x005F_x0020_Size = PublishingRollupImage = Comments = ID = 367 Modified = 2018-08-15 14:33:16 Created = 2018-08-15 14:20:36 _Level = 1 PublishedDate = 2018-08-15 14:14:00 WebId = efbeee77-4209-4a75-a7af-aee9adefaf7f ListId = 538abc7d-dcd6-46f2-8316-01bd11cd855b _x007B_94f89715_x002D_e097_x002D_4e8b_x002D_ba79_x002D_ea02aa8b7adb_x007D_ = news/retailcheckout/Lists/Posts/367_.000 PubDate = Wed, 15 Aug 2018 18:33:16 GMT FileExtension = FileSize = DocumentIconImageUrl = /_layouts/15/IMAGES/icgen.gif LinkUrl = https://www.rila.org/news/retailcheckout/Lists/Posts/367_.000 Style = RetailCheckoutFirstPost GroupStyle = DefaultHeader __begincolumn = True __begingroup = False
Retail Finance Execs Meet for Benchmarking, Hot Topics
This summer, RILA brought together chief accounting officers, treasurers, and controllers for its Finance Leaders Council (FLC) meeting at Target Corporation's headquarters in Minneapolis. The annual two-day meeting is an opportunity...