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Monday, January 27, 2025 Live Webcast

Update on Recent AICPA Standard Setting: Staying Current in a Changing Environment (X1-USS4-2025-01-WEBNR-27-01)

1:30 PM - 5:30 PM 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.

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

Margaret Thomas

Margaret Shaw Thomas, CPA, CGMA, MHA

Marci Thomas, MHA, CPA, CGMA, licensed as a CPA in Georgia and North Carolina, is an author and nationally recognized speaker on various accounting and auditing topics to companies, nonprofits, CPA firms, and state societies of CPAs around the country. A frequent speaker at local, regional, and national conferences, she also writes and teaches courses in governance, financial management, grants accounting, strategy, and various operational topics. Marci is a clinical assistant professor in the School of Public Health at the University of North Carolina at Chapel Hill. She works with numerous accounting firms, performing quality control and efficiency reviews; and with boards on strategic planning, internal control, and governance issues. Marci serves on the Not-for-Profit Committee for the North Carolina Association of CPAs. Marci has written and co-written several books, including Essentials of Physician Practice Management, published by Jossey Bass in 2004. Her book Best of Boards: Sound Governance and Leadership for Nonprofit Organizations was published by the AICPA and Wiley Publishing in 2018 and is on its second printing. Her book on health care financial management was published by Wiley Publishing in 2014, with a new edition expected in 2020. Marci received her Bachelor in Business Administration with a concentration in accounting from the Georgia State University and her Masters in Health Administration from the University of North Carolina at Chapel Hill.

PRICING

$149.00 - Member

$159.00 - Nonmember

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Note: Online pre-registration will close on January 27 at 1:00 PM.

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COURSE DEVELOPER

Surgent