Current Issues in Accounting and Auditing: An Annual Update (AAU4)
4.00 Credits
Member Price $175
Non-Member Price $225
Overview
Designed for accounting, auditing, and attestation practitioners at all levels in public accounting and business and industry, this course provides a detailed review of the multitude of FASB and AICPA standards and reports issued over the past few years, including a discussion of the FASB’s Stage 3 PIR report on ASC 606. It also provides an overview of recent PCAOB inspection report findings and SEC rulemaking activity. Through hands-on examples and illustrations, this course will help you apply the guidance in practice. We further discuss other important A&A practice matters to be aware of, including an update on the quality management standards and soon-to-be-effective requirements for engagement quality reviews.
Highlights
• Recently issued but newly implemented Accounting Standards Updates (ASUs), the PCC Update, and items on the
FASB’s Technical Agenda
• New ASUs covering disaggregated expenses, crypto assets (e.g., cryptocurrency), and business combinations
• Results and findings of the FASB’s Final (Stage 3) Post-Implementation Review (PIR) Report on Topic 606
• Recently issued SASs and other AICPA activity through SAS No. 149
• Detailed review of the three new Statement on Quality Management Standards (SQMS 1, SQMS 2, and SQMS 3)
• Other important A&A practice matters
Prerequisites
Experience in accounting and attestation
Designed For
Accounting and attestation practitioners at all levels desiring to remain up to date on recent pronouncements and other standard setters’ activities
Objectives
• Recall and apply recently issued and proposed FASB and AICPA pronouncements
• Understand the key findings of the FASB’s PIR report covering revenue recognition in ASC 606
• Understand the main provisions of SASs No. 146 to No. 149
• Identify other important A&A practice matters to be aware of
• Understand the key findings in recent PCAOB inspection reports
• Utilize hands-on examples and illustrations to demonstrate an overall understanding and application of the material
Leader(s):
Leader Bios
Daryl Krause
Daryl G. Krause, CPA, has CPA Certifications and he practices in: Illinois, Indiana, Kentucky, Michigan, Ohio and Wisconsin as Manager & CEO of his CPA firm, which he founded in 2005. Previously he enjoyed 23 years of diversified responsibilities with Ernst & Young. Industries he served included manufacturing, construction, real estate and financial services. Daryl has led more than 100 courses for the AICPA in 27 states and the District of Columbia. He also performs technical reviews during the development of certain AICPA courses.
Daryl was the Ohio Valley Area Director of Employee Benefit Plan Services specialty audit practice for 8 years responsible for the technical accuracy and quality of over 300,000 hours of employee benefit plan audit effort. Roles included sign-off partner for approximately one third of the entire area’s engagements, independent reviewer on approximately 100 additional plans per year and technical advisor for all work.
As Senior Manager in the Entrepreneurial Services group for 3 years he managed a portfolio of corporate audit client relationships. Roles included providing SEC reporting assistance to new public companies, assisting in due diligence on potential acquisitions and helping companies improve their controls and financial reporting processes.
He served in E&Y’s National Professional Development group as a Senior Manager for 5 years. Roles included designing, developing and delivering core curriculum Audit and Entrepreneurial Services training programs for the entire U.S. practice. Part of the 11 member team that completed the development effort to introduce the Ernst & Young Audit Approach training for Staff through Partner following the Ernst & Whinney and Arthur Young merger, which was deemed a critical success factor for the newly formed Ernst & Young.
Non-Member Price $225
Member Price $175