Deep Dive into Quality Management
Title : Deep Dive into Quality Management
Instructors : Melisa Galasso
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Learning Objectives
- Recall the components of quality management under SQMS 1
- Describe the objective of an engagement quality review under SQMS 2
- Identify the specific responsibilities of the auditor regarding quality management under SAS 146
- Recall the responsibilities of the engagement partner in SSARS engagements
Level
IntermediatePrerequisites
Experience with and knowledge of SQM Standards, SAS 146 and SSARS 26
Introduction to Single Audit
Title : Introduction to Single Audit
Instructors : Melisa Galasso
Single Audits are a critical area of focus under the AICPA's Enhancing Audit Quality Initiative, requiring a thorough understanding of the Uniform Guidance's unique audit requirements for federal funds. This course examines the distinctive performance and reporting standards in Single Audits, equipping participants with foundational knowledge to navigate these complex audits effectively. Key topics include an overview of internal controls over compliance, understanding compliance requirements, using the Compliance Supplement, and identifying the elements of a finding in a Single Audit. This course is ideal for professionals seeking a clear and practical introduction to the essentials of Single Audits.
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Learning Objectives
- Recall the unique auditing requirements in the Uniform Guidance
- Identify the requirements of major program determination
- Recognize when a single audit is required
- Identify the elements of a finding in a Single Audit
- Recall the reporting requirements for a Single Audit
- Identify internal controls over compliance
- Identify the compliance requirements in the Compliance Supplement
Level
BasicPrerequisites
None
Advanced Preparation
None
Electronic Audit Evidence in Employee Benefit Plans
Title : Electronic Audit Evidence in Employee Benefit Plans
Instructors : Melissa Critcher
A significant amount of information is electronically initiated, recorded, processed, or reported, and information to be used as audit evidence may be available only in electronic form. During this session we will look at different types of information commonly presented to an auditor during the audit of an employee benefit plan, and identify considerations for auditors when evaluating information to be used as audit evidence.
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Learning Objectives
- Identify types of information obtained during employee benefit plan audits
- Recognize what constitutes audit evidence in accordance with SAS 142, Audit Evidence
- Determine if sufficient appropriate audit evidence has been obtained
- Identify ways in which auditors might document the type, source, form, and procedures performed to information used as audit evidence
Level
UpdatePrerequisites
Knowledge of and experience with employee benefit plans
Advanced Preparation
None
Strategic Government Budgeting
Title : Strategic Government Budgeting: Tools for Long-Term Sustainability
Instructors : Alex Romero
This course equips participants with the tools and strategies needed to create sustainable, long-term budgets that align with policy goals and ensure fiscal responsibility. Participants will explore key budgeting frameworks, learn techniques for forecasting revenue and expenditures, and analyze scenarios to mitigate financial risks. The course incorporates practical exercises and case studies to provide hands-on experience with scenario planning, enhancing budget transparency and resilience. By the end of the session, attendees will have the knowledge and confidence to design and implement budgets that support long-term governmental priorities and strengthen financial stability.
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Learning Objectives
- Recall budgeting frameworks and tools to improve long-term budgeting
- Recognize how to create multi-year budgets that ensure fiscal responsibility and align with long-range policy goals
- Identify ways to forecast revenue, plan expenditures, and analyze scenarios to manage financial risks and uncertainties
Level
Basic
Introduction to Yellow Book
Title : Introduction to Yellow Book
Instructors : Melisa Galasso
Performing engagements in accordance with Generally Accepted Government Auditing Standards (GAGAS), commonly referred to as the ""Yellow Book,"" involves additional reporting, ethics, and performance requirements that go beyond those outlined in AICPA Generally Accepted Auditing Standards (GAAS). This course provides an overview of the guidance found in the Yellow Book and explores its relationship with the AICPA Code of Professional Conduct. Participants will gain an understanding of the unique CPE requirements for GAGAS engagements and review the Yellow Book standards for financial statement audits, with a focus on ethical principles and independence. This course is designed to equip professionals with the foundational knowledge needed to navigate the complexities of Yellow Book engagements effectively.
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Learning Objectives
- Recognize the unique auditing requirements in the Yellow Book
- Recognize the independence requirements for Yellow Book engagements
- Identify the CPE requirements for Yellow Book engagements
- Recall the reporting requirements of Yellow Book
Level
BasicPrerequisites
None
Advanced Preparation
None
Bytes, Bias, and Balance
Title : Bytes, Bias, and Balance - Data Ethics for Tech Savvy Accountants
Instructors : Peter Zender
This course explores the transformative role of artificial intelligence (AI) in accounting and auditing, highlighting its vast potential while addressing the associated risks and ethical considerations. Participants will discover how to harness AI tools to enhance efficiency and innovation, while mitigating challenges such as overreliance, data security vulnerabilities, and ethical dilemmas. Through case studies and interactive discussions, you'll gain practical skills to navigate AI complexities, ensure trustworthy outputs, and uphold ethical standards in today's fast-paced digital environment.
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Learning Objectives
- Recognize procedures over the reliance on technology-driven outputs
- Recall data security challenges associated with increased use of artificial intelligence and technology
- Identify ethical considerations and best practices for maintaining professional integrity while leveraging AI tools
Level
BasicPrerequisites
None
Advanced Preparation
None
Addressing Common Documentation Deficiencies
Title : Addressing Common Documentation Deficiencies
Instructors : Jacyln Veno
The Enhancing Audit Quality Initiative has identified inadequate or nonexistent audit documentation as one of the most significant issues facing the profession today. Over half of the engagements reviewed by the AICPA failed to meet the requirements of AU-C 230, highlighting a critical need for improvement.
This course addresses common misconceptions about audit documentation and provides actionable strategies to overcome these deficiencies. Attendees will learn best practices to ensure compliance with professional standards, enhance audit quality, and mitigate risks associated with poor documentation. Whether you are an experienced professional or new to auditing, this course will help you strengthen your documentation practices and uphold the highest standards of the profession.
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Learning Objectives
- Identify the minimum documentation requirements from AU-C 230
- Recall common work paper deficiencies identified by the AICPA
Level
IntermediatePrerequisites
Prior experience with GAAS
Advanced Preparation
None
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Accounting & Auditing for Cryptocurrency
Title : Accounting and Auditing for Cryptocurrency
Instructors : Jacyln Veno
Bitcoin and crypto have been in the news recently for a
variety of reasons. This course will cover the basics of accounting and
auditing for cryptocurrency including recent standard setting by the FASB as
well as a look at the AICPA's Accounting for and Auditing of Digital Assets
practice aid.
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Learning Objectives
Recall the impact of recent standard setting by the FASB on digital assets
Describe audit considerations for cryptocurrencies
Level
BasicPrerequisites
None
Advanced Preparation
None
How to Audit: Accounting Estimates
Title : How to Audit: Accounting Estimates
Instructors : Jacyln Veno
When auditing management's accounting estimates, increased professional skepticism is necessary as there is always the potential for bias in areas of increased subjectivity & complexity. This course will demonstrate procedures to test the process used by management to develop estimates, as well as walk through common examples of accounting estimates that are included in the financial statements. It includes the updated requirements in SAS 143.
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Learning Objectives
- Perform audit procedures to obtain comfort over the reasonableness of management's estimates
- Recall circumstances that require accounting estimates
Level
BasicPrerequisites
None
Advanced Preparation
None
Internal Controls Best Practices
Title : Internal Controls Best Practices
Instructors : Melisa Galasso
Internal control frameworks help organizations identify the right controls without recreating the wheel. This webinar is designed to provide an overview of the updated 2013 COSO Internal Control – Integrated Framework as well as the Standards for Internal Control in the Federal Government (AKA the "Green Book“). We will review a history of COSO and its evolution until today. The updated Framework formalizes 17 principles which must be present and functioning in order to demonstrate effective internal controls. We’ll discuss each of these principles and related points of focus in detail including practical waits to implement. We’ll then look at how GAO leveraged the update of COSO to update the Green Book. We’ll then take a closer look at enterprise risk management and provide an overview of how entities can perform an effective risk assessment and mitigate risks through a control self-assessment (CSA) process. We’ll review the steps for control self-assessments and how small to medium entities can leverage CSAs to improve their internal controls.
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Learning Objectives
- Identify types of controls.
- Recall the five components of internal control
- Identify steps in performing a control self-assessment
- Distinguish between ICFR and ICOC
Level
BasicPrerequisites
None
Advanced Preparation
None