Wade Fanning

Background

Wade is a director in the KPMG Accounting Advisory Services service line focusing on assisting clients in addressing complex technical accounting issues. He has worked on a wide range of engagements including, but not limited to, financial statement restatements, on-call technical accounting, and accounting change services. 

Wade also has over two years' experience in process and control documentation and Sarbanes-Oxley assistance services. He has experience in the planning, execution, and delivery of internal audit projects, including process analysis and documentation, and Sarbanes-Oxley 404 testing.

Prior to joining KPMG, Wade spent one year working at the Financial Accounting Standards Board as a postgraduate technical assistant. 

Professional and industry experience

Wade has experience with several accounting topics and industries (e.g., transaction processing, insurance brokerage and third-party administration services, and software). His primary areas of focus include revenue recognition and financial reporting.   

• Wade has performed research and drafted memos summarizing accounting conclusions under both US GAAP and IFRS.
• Wade has reviewed legal documents and evaluated organizational structures for potential accounting implications.
• Wade has led multiple engagements assisting clients in assessing the impact of ASC 606, Revenue from Contracts with Customers, on their business.
• Wade has assisted with financial statement restatements and materiality assessments for both public and private companies. Many of these engagements focused on revenue recognition issues under ASC 605, Revenue Recognition, and/or ASC 606. During these engagements, Wade prepared analyses related to various topics including, but not limited to, the measurement and timing of revenue recognition, concessions, and gross versus net presentation considerations.
• Wade worked on a large carve-out transaction. His primary responsibilities related to technical research and analysis of topics, including segment reporting, goodwill, stock compensation, discontinued operations, and financial reporting.