Description

This course covers recently issued standards from the AICPA Auditing Standards Board and AICPA Accounting and Review Services Committee including the new Quality Management Standards. The session will highlight projects in progress at the Public Company Accounting Oversight Board, and International Auditing and Assurance Standards Board. The course will also recap recent changes and present common peer review findings and best practices to improve practice quality. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Presented by Pennsylvania Institute of CPAs

Target Audience

Members in public

Course Objectives

After attending this presentation, you will be able to...

• Recall the most recent changes in auditing, reviews, compilations and other attestation engagements
• Apply practice tips for achieving high quality engagements.
• Recognize updates on enhancing audit quality
• Analyze AICPA’s new Quality Management Standards
• Recognize trends in the practice landscape, how AICPA’s Enhancing Audit Quality Initiative is improving practice quality
• Recall SQMS implementation resources.

Subjects

The major topics that will be covered in this course include:

• AICPA Accounting and Review Services Committee standards update and new practice aid
• AICPA Auditing Standards Board standards update including recent changes to the audit and attestation standards
• AICPA’s new Quality Management Standards - Overview, implementation considerations, timeline, and AICPA implementation resources
• PCAOB, IAASB standard-setting agenda and potential future AICPA ASB standards changes
• Update on AICPA’s Enhancing Audit Quality Initiative
• Trends in audit quality including the DOL’s audit quality study
• Frequent peer review findings and practice tips for achieving high practice quality
• Latest on the DOL’s audit quality study