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Friday, December 15, 2023 Live Webcast

Update on Recent AICPA Standard Setting: Staying Current in a Changing Environment (E2312282)

9:00 AM - 12:30 PM EST

Registration: 8:30 AM EST

webcast

Vendor Platform

4 CPE Credits in AA

OVERVIEW

Professional standards are changing with the times and the desire of the AICPA to move the profession into a new era where use of data analytics and artificial intelligence will play a key role in an audit. We are seeing changes already as the AICPA has recently issued standards that significantly modify the form of the independent auditor’s report. In addition, its Omnibus standard modifies several professional standards including those on related parties, consideration of fraud and the auditor’s communication to those charged with governance. The new auditing standard on employee benefit plan audits makes significant changes in the auditor’s report as well as other aspects of an employee benefit plan audit. Another revision, which has also affected the SSARs and SSAEs is a change to the definition of materiality. Other major revisions to professional standards include updated standards on audit evidence, auditing accounting estimates, use of specialists and information obtained from a pricing service and understanding the entity and its environment and assessing the risk of material misstatement. This program will cover SASs 134 through 145.

This course features a live instructor and has been specifically designed for the NJCPA.

DESIGNED FOR

Accounting and auditing practitioners at all levels desiring to stay current on AICPA professional standards

BENEFITS

  • Identify and understand the requirements of recently issued SASs and SSARS
  • Develop implementation tips and best practices related to these new standards
  • Implement best practices for enhancing engagement quality

HIGHLIGHTS

  • New SASs on reporting and key audit matters
  • Updated guidance on employee benefit plan audits
  • Going concern considerations in all professional engagements
  • Proposed SSARS on conforming U.S. and international standards
  • Recent changes to the Standards on Attestation Engagements
  • Other AICPA hot topics and standard setting initiatives

COURSE LEVEL

Intermediate

PREREQUISITES

Experience in accounting and auditing

ADVANCE PREPARATION

None

INSTRUCTOR

Thomas Newell

Thomas E. Newell, CPA

AICPA/Professional Development Institute

Thomas E. Newell, Jr., CPA Newell and Newell, P.C. / Columbus, Georgia Thomas E. Newell, Jr. (Tom) is a shareholder in the firm of Newell & Newell, P.C., which is located in Columbus, GA. Tom started the firm with his wife, Silvia Newell, CPA in 1986. Prior to that, his public accounting experience included both local firms and international firms. Tom has performed hundreds of peer reviews and has been involved with the peer review program since 1989. Tom served on the Georgia Society (GSCPA) peer review committees from 1989 to 1993. In 1993, he was selected to be one of the technical reviewers for the Georgia Society Peer Review Program and served for nine years. During his time as technical reviewer, Tom worked with the GSCPA to move the peer review committee from in-person to online meetings. Tom has also served several years on the accounting and auditing committee at the Georgia Society. Tom has been a presenter at conferences and CPE courses for over 30 years. He has been a frequent presenter for the Georgia Society of CPAs at the Southeastern Accounting Show, Tax Forum (A&A topics), and the Accounting Institute. Tom is also a discussion leader for various continuing education courses on A&A topics for other state societies. He has made presentations at Fortune 500 companies and several government agencies on accounting and auditing, internal controls, and cybersecurity. As a presenter, Tom has been described as a dynamic speaker who is able to take a boring topic (accounting and auditing) and make it interesting. He was awarded the Surgent Outstanding Discussion Leader Award in 2015, 2016, and 2018, as a result of these skills. Tom was recognized in 2018 by the AICPA as an Outstanding Facilitator for his consistently high evaluations of knowledge and presentation skills. As the world of presentations has been changing, Tom has been a champion of moving to virtual presentations. He was involved in the early years of simulcasting by various state CPA societies, as well as the recording of video and audio self-study courses. Tom is now prepared for the next wave of change toward the totally virtual classroom that simulates a true live classroom experience. Tom graduated cum laude from Georgia Southwestern College in Americus, GA in 1980.

PRICING

$189.00 - Member

$264.00 - Nonmember

Event Cancelled

This event has been cancelled.

ADDITIONAL OPTIONS

Print a registration form

ALSO AVAILABLE

COURSE DEVELOPER

Surgent