- NY Credits : 16.0
- TX Credits : 16.0
TPart of planning an audit involves consideration of the business and economic environment in which the client operates. Thus, auditors need deal with the volatility in the business climate, auditors should focus their efforts in key areas and should take lessons from litigation. This course provides guidance to perform more efficient engagements, understand the new auditor's report guidance found in SAS Nos. 134-139 and agreed-upon engagements in SSAE No. 19. The course focuses on recalling, recognizing and identifying rules related to auditing standards including new developments pertaining to those standards as well as auditing issues related to the coronavirus (COVID-19).
Upon successful completion of this course, the user should be able to:
recognize the implications of the current economic issues peculiar to auditors including cases of fraud, litigation and COVID-19;
determine the alternatives for limiting an auditors' liability and the viability of the Big Four firms;
recognize the impact of Enron, Sarbanes-Oxley, and Dodd-Frank on auditors;
identify going concern issues as well as the top technology issues identified by the AICPA;
recognize the peer review process;
identify developments in the practice of accounting and auditing in volatile times;
recognize how to run efficient engagements and deal with practice issues relating to auditing;
recall the impact of the DOL and audits of employee benefit plans;
recognize the ASB agenda the six-point plan to improve audits;
recognize auditor-provided tax services; and
recall the major changes made to auditing standards as a result of SAS Nos.134 through 139 as well as SSAE No. 19.