COVID-19: Impact on the Audit

Description

This webinar is one in a series providing cutting-edge insight on the impact of the COVID-19 pandemic on accounting and audits. Allison Henry, CPA, CGMA, PICPA’s Vice President of Professional and Technical Standards, will discuss the key standards and considerations related to COVID-19 audit issues, critically evaluating risk assessment, changes to internal controls, working remotely and assessing the impact of the auditor's report. 
 
This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Date/Time

Monday, April 12, 2021
Registration Time: 12:30pm
12:30pm – 2:30pm

Add to Outlook calendar

Course Type

On-line Live Vendors

CPE Credit

2.00 hours CPE credit

Field of Study

Auditing

Level of Knowledge

Intermediate

Designed For

CPAs in public practice and members in industry

Vendor

CPA Crossings

Prerequisites

General knowledge of auditing

Advanced Preparation

None

Highlights

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

  • Achieving a high-quality audit in a remote working environment
  • Reconsidering engagement fundamentals and critically evaluating risk assessment
  • Other challenging audit issues, including auditing inventory, performing analytical procedures, changes to the internal control systems, heightened fraud risk factors, evaluating subsequent events, considering going concern, assessing the impact on the auditors’ report

Objectives

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

  • Apply remote work processes to ensure a proper audit is performed
  • Identify fraud risks and new risk areas during times of crisis
  • Identify potential changes to internal controls and if there is any impact on significant deficiencies and material weaknesses on substantive testing.
  • Recognize factors where there can be financial statement implications including inventory valuation, accounts receivable and collectability, ASC 606, valuation of assets, change in accounting estimates, debt covenant violations, etc.
  • Apply effective analytical review procedures
  • Identify red flags with respect to going concern evaluations and analyze effects of the outbreak
  • Identify subsequent events an determine if disclosures are required
  • Determine the impact on audit engagements pertaining to nature of engagement, deadlines, appropriateness of financial reporting framework, risk assessment, fraud risk consideration and additional challenges due to remote work environment

Location

N/A (This is a webcast)
Member Fee $79.00
Non-Member Fee $79.00
Your Price $79.00

Registration for this course has passed.

View more conferences and courses

Registered for CPE? Log in to download electronic course materials.