Course ID: PAAU
A&A Update: Highlights of the Latest Accounting and Auditing Issues
This course provides a practical overview of the most important issues facing most companies and their accountants. The focus is on explaining the basis behind major issues and trends in plain language, enabling professionals to understand the most important aspects of relevant standards and why any planned or potential changes are coming down the pike.
- Describe “hot topics” in accounting and financial reporting.
- Explain how to manage risk associated with audit and nonaudit services.
- Discuss practical examples of implementing changing technical, professional and relevant regulatory requirements.
- When and why you should implement the private company GAAP alternatives.
- The latest FASB standard-setting activity, including significant projects on the horizon.
- Preparing for implementing the new revenue recognition model.
- Understanding impact of changing lease accounting.
- The impact of new financial instruments accounting rules as it relates to entities not in specialized industries such as financial institutions and insurance.
- Frequently asked questions related to SSARS 21 financial statement preparation, compilation and review engagements.
- When to apply the latest attestation standards contained in SSAE No. 18.
- Mitigating risk associated with nonattestation services, including responding to requests for third party verification (comfort letters).
- Recent revisions to generally accepted auditing standards, including PCAOB audit and reporting requirements.
- Highlights of COSO’s internal control and enterprise-wide risk management guidance.
- Current fraud trends in today’s business environment.
- Other matters that should be on your radar.
Who Should Attend
Public and industry accountants at all levels interested in remaining current on professional, technical and relevant regulatory requirements
Fields of StudyAccounting, Auditing
Knowledge of currently effective professional and technical standards.