Public Company Auditing Update Self-Study Webinar (1.5 Hours)

Public Company Auditing Update Self-Study Webinar (1.5 Hours)

CPE Credit: 1.5 Hours

Price: $99.00

NASBA Field of Study: Auditing

 

Overview

This self-study webinar from our popular SEC Conference will update financial professionals on the most recent PCAOB rules and standards for audits, and show them how to successfully avoid unnecessary and costly pitfalls.
 

AGENDA HIGHLIGHTS


•  PCAOB Organization & Structure

•  Developments, Research & Standard-Setting Agenda
   – Strategic plan
   – Audit Committee engagement
   – Current developments
   – Holding Foreign Companies Accountable Act (HFCAA)
   – Critical Audit Matter (CAM) requirements
   – Auditor independence
   – Quality Control Standard concept release

•  Inspection Focus Areas & Report Update
   – Changes to and deficiencies in inspection cycle
      – The impact of COVID-19– Auditing in a remote environment
      – Business combinations
      – Inventory
      – Revenue
      – Allowance for loan losses
      – Quality control
      – Customer funds and securities
      – New inspection report format

•  Reporting & CAMs
   – Expected benefits
   – Considerations for audit committees and management
   – Identifying CAMs
   – PCAOB analyses

•  Internal Controls over Financial Reporting (ICFR)
   – Management Review Controls
      – What must MRCs include?
      – Documenting and challenging an audit
      – Expectations of management
      – Assessing MRC challenges
   – Evaluating the Severity of Deficiencies
      – What is a control deficiency?
      – Guidance for management and auditors
      – Material weakness
      – Disclosure considerations

 

LEARNING OBJECTIVE  To update financial professionals on the most recent PCAOB rules and standards for audits, and show them
how to successfully avoid unnecessary and costly pitfalls.

PREREQUISITE  None.    ADVANCE PREPARATION  None.    PROGRAM LEVEL  Update.   NASBA FIELD OF STUDY  Auditing.
DELIVERY METHOD  Self-Study.

Speakers

SPEAKERS


Wes Kelly, Assurance Partner, PwC

Tina Schmelcke, Director, PwC

Detailed Learning Objectives

Recognize the degree to which the PCAOB engages with the audit committees of issuers whose audit engagements are selected for inspection

Identify the degree of significant unintended consequences from the initial year implementation of CAMs per the PCAOB

Identify Rule 2-03 guiding principles for auditor independence that must be avoided

Recognize the PCAOB’s focus areas for 2022

Identify the most common single subject matter of CAM reports among public company filers

Identify the typical use for management review type controls