Current Audit Environment and ASB Activity
2.50 Credits
Member Price $99
Non-Member Price $119
Overview
Understanding the current audit environment
You’ll explore the current audit environment, including the audit challenges triggered by the current environment. Additionally, you’ll do a comprehensive review of recent audit pronouncement and exposure drafts.
Topics you’ll cover include those critical to success in today’s rapidly changing regulatory environment, such as:
Highlights
Prerequisites
Accounting professionals with audit experience
Designed For
CPAs
Objectives
- Determine the importance of obtaining a sufficient understanding of the client and the client's environment to effectively plan the audit in response to the risk of material misstatement.
- Determine how the key economic trends currently affecting U.S. businesses affect the auditor in assessing the risk of material misstatement.
- Identify the key risk issues determined by executives and unique challenges for audit engagements.
- Identify key elements of recent Statements on Auditing Standards (SASs).
- Identify the auditor's responsibilities relating to fraud in an audit of financial statements.
- Recognize key provisions from recently issued Technical Questions and Answers.
- Distinguish key elements included in the recently issued Statements on Quality Management Standard (SQMS) No. 1,
- A Firm's System of Quality Management
- , SQMS No. 2,
- Engagement Quality Reviews
- , and SQMS No. 3,
- Amendments to QM Sections 10
- , A Firm's System of Quality Management,
- and 20
- , Engagement Quality Reviews.
- Identify key elements of Statement on Standards for Accounting and Review Services (SSARS) No. 26,
- Quality Management for an Engagement Conducted in Accordance With Statements on Standards for Accounting and Review Services
- .
- Identify key elements of Statement on Standards for Attestation Engagements (SSAE) No. 23,
- Amendments to the Attestation Standards for Consistency With the Issuance of AICPA Standards on Quality Management.
Leader(s):
Leader Bios
Anne Oestriecher, AICPA
Anne Oestriecher, CPA, is a vice-president in charge of Accounting Policy and control manager at Hibernia National Bank in Metairie, La. She is responsible for development of accounting policies and implementation of new accounting standards, accounting for technical matters, development and documentation of internal controls, due diligence for merger partners and supervision of accounting staff.
Kurt Oestriecher, Partner, Oestriecher & Company, CPAs
Kurt G. Oestriecher, CPA is a partner with Oestriecher & Company CPAs in Alexandria, La., and is the partner in charge of accounting and auditing. He is Past-President of the Louisiana Society of CPAs and has served on numerous LCPA and AICPA Committees. He has facilitated CPE courses since 1992 and has received the AICPA Outstanding Discussion Leader Award 12 years and the LCPA Outstanding Discussion Leader Award four times.
Non-Member Price $119
Member Price $99