Description

As accounting firms’ non-attest offerings to their attest clients become more diversified, such engagements increase firms’ exposure to independence violations. In order to thread the needle of providing value-added services and upholding their independence obligations, firms need to have a strong foundational understanding of the applicable ethical and independence rules which govern these engagements. In this course, we’ll review the relevant sections of the AICPA Code of Professional Conduct regarding independence, objectivity, and conflicts of interest. The course will focus on the Code’s Independence Rule and common threats to auditor’s independence. In particular, the course will focus on those unique considerations related to non-attest services, both from the perspective of AICPA interpretations and other applicable rules and regulations. PLEASE NOTE: THIS COURSE COVERS GENERAL ETHICS AND IS APPLICABLE IN STATES IN WHICH STATE-SPECIFIC ETHICS IS NOT REQUIRED.

Instructor: Sharon Martin

Target Audience

All CPAs

Course Objectives

Identify the key sources of guidance on auditor independence

Recall key components of applicable independence guidance from the AICPA, SEC and other regulators

Assess independence risks related to common client situations

Subjects

Auditor independence and its importance to the public accounting profession

Common threats to auditor independence

AICPA’s framework for assessing conflicts of interest

Unique threats related to non-attest services to attest clients

Common safeguards to help assure compliance with relevant rules and regulations

Prerequisites

Experience in financial reporting