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Focus on Engagement Quality: How to Avoid Deficiencies in Peer Reviews

8:30 am–4:15 pm ET

# of CPE Credits

8

Description

With AICPA’s heightened focus on enhancing audit quality, increased oversight of the peer review process and the auditor’s overall responsibility to provide high quality services, the focus on compliance with professional standards has never been greater. Recent peer reviews have indicated that auditors are often failing to perform and/or document certain critical components of an audit such as the auditor’s assessment of risk and linking the results of the assessment to substantive procedures performed. In addition, auditors are not adequately documenting their consideration of fraud, expectations in analytical procedures and the appropriate level of work needed to understand an entity’s internal control. Now is time to revisit the way that auditors are performing and documenting the work performed to meet professional standards since nonconforming engagements can result in an auditor’s referral to the AICPA Ethics Committee. This course will focus on the most significant items resulting in deficiencies identified in the peer-review process. We will also discuss the applicable audit standards, documentation requirements, and best practices. The objective of the course is to provide the insights necessary to help an auditor improve not just the quality of their work but also the perception of the accounting profession as a whole.

Objective

* Identify key elements of the AICPA’s Enhancing Audit Quality initiative * Recognize key trends in recent peer review deficiencies noted * Identify professional standards related to performing a risk assessment, understanding and testing internal controls and linking these procedures to further audit consideration * Implement best practices to help ensure overall engagement quality

Highlights

* AICPA’s Enhancing Audit Quality initiative * Feedback from peer reviews, including areas driving deficiencies in audit * Elements of an effective risk assessment and how to link to audit procedures performed * Understanding internal controls and making the decision whether or not to test them * Best practices in documentation

Who Should Attend

Accounting and auditing practitioners at all levels desiring to improve engagement quality

Required Knowledge

Experience in accounting and auditing

Advanced Prep

None

Event Speaker(s)

Ms. Margaret S. Thomas, CPA, MHA ( Surgent McCoy CPE, LLC, Canton, GA ),

Additional Event Information

Technical Support
Contact NCACPA if you need assistance with your online program. For the quickest results, email the Online Learning Team at [email protected], and a team member will contact you shortly.

If you need assistance with internet access issues, browser capability, or when the NCACPA office is closed* please call Freestone Technical Support at 866-702-3278 or by email at [email protected].

*NCACPA office hours are 9:00 am–5:00 pm ET. Online Learning Team members will be available via phone or email 30 minutes prior to the start of a live online program.

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Also Available As

Seminar
Friday, November 13, 2020 (8:30 am–4:15 pm ET) , Morrisville
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Event Vendor:Surgent McCoy CPE, LLC
Field of Study:Auditing
Level: Intermediate
Other:New Course

Event Type:Webcast
NASBA Instructional Method:Group Internet Based
Event Code:W0021120

Registration Fees

Registration FeeEarly BirdRegular
NCACPA MemberN/A$245.00
Non-MemberN/A$345.00
CPE Sponsors LogoThe 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.