Day 2 of this 2-day chapter event is designed to assist those who want or need to remain up to date on recently issued and effective guidance impacting small privately held entities and not-for profits.
Learning Objectives
- Upon completion of this course, you will be able to:
- Recognize recently issued and effective auditing and attestations standards and interpretations issued by the AICPA, including SAS Nos. 143 – 149, including changes to risk assessment.
- Recall frequent GAAS peer review deficiencies identified in the most recent AICPA’s Peer Review Oversight Report, including single audit, NFP and ERISA deficiencies.
- Identify how the quality management standards will impact an accounting firm’s practice.
- Recognize the differences between the existing quality control standard (Quality Control Standard No. 8) and the new quality management standards.
- Recall the types of engagements outside the scope of the quality management standards.
Major Topics
Learn about the AICPA’s recently issued Statements on Auditing Standards (SASs) Nos. 143 – 149, including the significant changes to risk assessment. Understand the impact the new quality management standards will have on your firm’s practice.