Live Stream: Accounting and Auditing Conference

The FASB has stayed busy the last few years with 11 ASUs issued in less than a year and a half. In this module, we'll review those newly issued ASUs and the items on the FASB's technical agenda. We will also review previously issued ASUs which will be effective for 2024 annual reporting.

Auditing and attestation standards are updated to respond to a changing environment, recent technological advancements, emerging trends, and feedback from peer reviews. In this module, we will review new and previously issued SASs and SSAEs which will need to be considered on 2024 engagements not covered elsewhere in this conference.

With the initial reporting period which incorporated ASC 842 behind us we will focus on newly released guidance and ongoing considerations for those auditing or accounting for lease arrangements. We will also cover frequently asked questions we have gotten from clients and what key provisions prevent the greatest challenges for preparers and auditors.

We will discuss what you need to know to perform financial statement preparations, compilations, and review engagements this year. We will focus on managing your SSARS No. 21-26 services in compliance with professional, ethical, and technical requirements and discuss recent peer review feedback on SSARS engagements.

As accountants, did we think we would also become technologists? Or did we think we would ever have an AI companion? Technology and its associated risks are constantly evolving at warp speed. Auditors and our clients are rapidly updating our technology tools to capitalize on these emerging trends. We'll discuss these latest audit tech trends, along with other industry hot topics, with a focus on the risks associated with technological change and how we can address them.

Our systems of quality management protect our reputation and work products. The new AICPA standards move us from a policy approach to a risk-based approach. We discuss these changes along with recent peer review results surrounding audit engagement quality. This session will also cover what we are doing well and where there is room for improvement, alongside any changes to the guidance on peer reviews from the AICPA.

ASC 326, Credit Losses, is not just applicable for banks. Rather, it applies for all entities that extend credit, including accounts and leases receivable. In this session, we'll review the core requirements of the CECL model and focus on how non-lending institutions will address the guidance going forward.

The auditor's responsibilities related to risk assessment have overgone their biggest overhaul in decades! This power-packed session will empower you with the working knowledge of SAS No. 145, Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement, to successfully apply the standard. This course will also discuss two highly related standards (i.e., SAS Nos. 143 and 148) which auditors will be implementing at the same time.

Multiple new ethics updates and interpretations have become effective recently or will be effective over the next year. These updates can significantly impact independence assessments and update our professional responsibilities in several key areas. In this session, we will review the changes, their impact and the effective dates of the changes.

Applying three sets of auditing standards for a single client is tough. This is precisely what the auditor does in applying GAAS, the Yellow Book, and the OMB requirements to a single audit. With each update of the compliance supplement, these audit requirements are frequently being updated.This session will get you up to speed on current events related to Single Audit requirements.