Description
Designed as an all-you-need-to-know update for accounting, auditing, and attestation practitioners at all levels in publicaccounting and industry, this course provides a comprehensive review of recent standard-setting and rulemaking activitiesof the Financial Accounting Standards Board (FASB), American Institute of Certified Public Accountants (AICPA), PublicCompany Accounting Oversight Board (PCAOB), and Securities and Exchange Commission (SEC).
On the financial accounting front, we will cover the FASB’s Post-Implementation Review (PIR) report for revenuerecognition under ASC 606 and discuss the best practices in applying the standard and identifying any ongoing issuespractitioners are experiencing with applying the standard. We will also discuss the more than a dozen ASUs the FASB hasissued since the beginning of 2023 and into 2025 covering crypto assets, disaggregated expenses, businesscombinations, and leases for entities under common control.
Our focus on AICPA standards includes a detailed discussion of revamped AICPA quality management standards. TheAICPA updated and modernized the standards by issuing Statement on Quality Management Standards 1, 2, and 3(SQMS 1, SQMS 2, and SQMS 3, respectively), SSARS No. 26, and SAS 146, Quality Management for an EngagementConducted in Accordance with Generally Accepted Auditing Standards (SAS 146). These standards, effective December15, 2025, modernize quality management standards to reflect an increased focus on risk assessment, technology use,and the presence of outside experts on engagements.
We will also cover new rules impacting public company audits and present case studies on recent fraudulent accounting stories and best practices for detecting and preventing such frauds.
In summary, the course is your go-to source for all things A&A and will prepare you for your upcoming engagements throughout the rest of the year.
Required Knowledge: Experience in accounting and attestation
Advanced Preparation: None
Who Should Attend: Accounting and auditing practitioners at all levels desiring to remain up to date on recent pronouncements and other standard setters’ activities
Objective
Review and apply recently issued and proposed FASB, PCAOB, SEC, and AICPA pronouncements Recall and apply AICPA quality management standards (SQMS 1, SQMS 2, and SQMS 3) Understand the major findings of the FASB’s PIR report for ASC 606 and best practices in applying ASC 606 Be familiar with other important A&A practice matters you should be aware of Recall key provisions in SAS 146 and SSARS No. 26 Utilize hands-on examples and illustrations to increase your overall understanding and application of the material
Credit Types
- Accounting: 4
- Auditing: 4
Event Speaker(s)
Registration Fees
| Registration | Type | Price |
|---|---|---|
| Surgent: Live Online (8 hours) | Members | $295.00 |
| Surgent: Live Online (8 hours) | Non Members | $500.00 |
The North Carolina Association of Certified Public Accountants is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org/.For information regarding refund, complaint, program cancellation or other policies, visit our Registration Policies page or call 800-469-1352.