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Title : Audit and Attestation Update: What's Going on at the AICPA

Presented By : Melisa Galasso

Now that auditors have adopted the new auditor reporting suite, it is time to turn our attention to SAS 142, Audit Evidence, which is effective this year. This course will review the changes driven by SAS 142 before looking further ahead to SAS 143 through 145 to understand their impact on auditing estimates and risk assessment. These standards will be effective in 2023. We will also provide an update on the changes to examination and review engagements under the SSAEs before closing with the proposed changes to quality management.

Key Topics

Audit Evidence

Risk Assessment

Auditing Estimates

Examination Engagement

Quality Management

Field(s) of Study: Auditing

NASBA Approved

Update Level

4.0 Hrs

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    Learning Objectives

    • Identify changes to the performance requirements for attestation standards
    • Recall changes to reporting requirements

    Level

    Update

    Prerequisites

    Prior experience with GAAS

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Title : Common Yellow Book and Single Audit Deficiencies

Presented By : Melisa Galasso

This course will review focus areas for peer review of Single Audits and Yellow Book engagements. We discuss the requirements for major program determination, testing compliance, testing internal controls over compliance, sampling, and reporting for Single Audits. We also address Yellow Book CPE and independence requirements. In addition to providing an overview of the common deficiencies and key trends identified by the AICPA, this course will also provide best practices for how entities can properly perform procedures in these areas. 

Field(s) of Study: Accounting Governmental

NASBA Approved

Intermediate Level

4.0 Hrs

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    Learning Objectives

    • "Recognize CPE requirements for Yellow Book engagements 
    • Perform a major program determination compliant with the Uniform Guidance 
    • Properly identify internal controls over compliance 
    • Identify compliance requirements in the Uniform Guidance 
    • Recognize the control risk and internal controls over compliance 
    • Identify the reporting requirements for Single Audits 
    • Properly perform sampling under the Uniform Guidance 
    • Recognize common audit deficiencies 
    • Recognize the independence requirements for Yellow Book

    Level

    Intermediate

    Prerequisites

    Prior experience with GAGAS and Uniform Guidance 

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Title : Deep Dive into Common Auditing Deficiencies

Presented By : Melisa Galasso

This course will review common deficiencies identified by the AICPA and state boards of accountancy. It includes discussion on a variety of topics including auditing estimates, internal controls deficiencies, documentation deficiencies, and risk assessment. We will review the areas of concern, the profession’s response to these deficiencies including SASes 143 and 145, and how you can overcome them by employing best practices

Key Topics

Estimates

Documentation

Risk Assessment

Field(s) of Study: Auditing

NASBA Approved

Intermediate Level

4.0 Hrs

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    Learning Objectives

    • Properly perform risk assessment and documentation
    • Recall best practices for auditing estimates
    • Recognize changes to auditing standards for estimates and risk assessment

    Level

    Intermediate

    Prerequisites

    Prior experience with GAAS

    Advanced Preparation

    None

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Title : SAS 134-141: The New Auditor’s Report

Presented By : Melisa Galasso

The AICPA has issued a suite of standards updating the auditor’s report. In this course, we will review SAS 134 in detail which provides the basis for the updated audit report and introduces the concept of KAM. Then we will provide an overview of the impact of this suite on other information included in an annual report, ERISA reports, special purpose frameworks, and compliance audits. This course is essential for auditors of all levels and will provide the overview you need to consider how to draft your updated audit reports. 

Key Topics: 

New audit report 

Materiality 

EBP reporting

Field(s) of Study: Auditing

NASBA Approved

Update Level

2.0 Hrs

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    Learning Objectives

    • Identify changes to the auditor's report 
    • Recognize changes to the ERISA report 
    • Recall conforming amendments to the 800 and 900 section of the auditing standards 

    Level

    Update

    Prerequisites

    Prior experience with audit standards of the AICPA

    Advanced Preparation

    None

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Title : The Continued Impact of COVID on Accounting and Auditing

Presented By : Melisa Galasso

This course will address the accounting and auditing for COVID-19 funds ranging from the CARES Act to ARP and everything in between. Attendees will address accounting issues ranging from goodwill and asset impairment to risk and uncertainty disclosures. The AICPA predicts there will be more than 10,000 new single audits due to all the federal funding related to COVID. We’ll address the impact on Single Audits including instructions in the 2021 Compliance Supplement. We’ll close with a look at remote auditing in a COVID environment. 


Key Topics:

CARES Acts 

Single Audits 

Remote work 

Field(s) of Study: Accounting, Auditing

NASBA Approved

Basic Level

2.0 Hrs

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    Learning Objectives

    Identify the impact of COVID-19 on Single Audits 

    Recognize the impact of COVID-19 on financial reporting

    Level

    Basic

    Prerequisites

    None

    Advanced Preparation

    None

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Title : Governmental Auditing Update: Yellow Book and Uniform Guidance

Presented By : Melisa Galasso

This course covers the important information needed when performing Yellow Book and Single Audit engagements. Areas of focus include the updated independence requirements in Yellow Book as well as the 2021 Yellow Book Technical correction. We'll also review the AICPA’s reporting standard and its impact on the auditor’s report as well as the Compliance report for Single Audits. We will then switch gears and cover the Uniform Guidance including the most recent changes issued in 2020 as well as the impact of COVID-19 on Single Audits.

Key Topics

  • SAS 134 and 140
  • Yellow Book Update
  • Uniform Guidance Update
Field(s) of Study: Auditing Governmental

NASBA Approved

Update Level

4.0 Hrs

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  • More Info

    Learning Objectives

    • Identify changes to the auditor’s report
    • Analyze how non audit services impact independence
    • Describe changes to the Uniform Guidance
    • Recall impact of COVID-19 on Single Audits

    Level

    Update

    Prerequisites

    Prior experience with GAGAS and Uniform Guidance

    Advanced Preparation

    None

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Title : Deep Dive into Common Auditing Deficiencies

Presented By : Melisa Galasso

This course will review common deficiencies identified by the AICPA and state boards of accountancy. It includes discussion on a variety of topics including auditing estimates, internal controls deficiencies, documentation deficiencies, and risk assessment. We will review the areas of concern, the profession’s response to these deficiencies including SASes 143 and 145, and how you can overcome them by employing best practices

Key Topics

Estimates

Documentation

Risk Assessment

Field(s) of Study: Auditing

NASBA Approved

Intermediate Level

4.0 Hrs

Enroll
  • More Info

    Learning Objectives

    • Properly perform risk assessment and documentation
    • Recall best practices for auditing estimates
    • Recognize changes to auditing standards for estimates and risk assessment

    Level

    Intermediate

    Prerequisites

    Prior experience with GAAS

    Advanced Preparation

    None

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Title : Yellow Book Ethics

Presented By : Melisa Galasso

The 2018 Yellow Book addresses key concepts of ethics including the public interest, integrity, objectivity, and professional behavior. This course will review the key concepts and their application to auditors in a governmental environment. We’ll also review changes to the independence standards in the 2018 Revision.


Key Topics

  • Independence
  • Ethical principles
Field(s) of Study: Regulatory Ethics

NASBA Approved

Intermediate Level

2.0 Hrs

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  • More Info

    Learning Objectives

    • Identify changes to independence rules in the 2018 Yellow Book
    • Recognize the ethical principles in GAGAS

    Level

    Intermediate

    Prerequisites

    Prior experience with Yellow Book

    Advanced Preparation

    None

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Title : Introduction to Governmental Accounting

Presented By : Melisa Galasso

Governmental accounting is very unique. This course will introduce the financial reporting basics for governments, including fund accounting and the modified accrual basis of accounting. Attendees will analyze the layouts of the fund financial statements as well as the government-wide financial statements. The course will also cover the concept of component units, Management Discussion & Analysis (MD&A), and the Annual Comprehensive Financial Report.

Key Topics:

  • Fund accounting
  • Governmental Financial Statements
  • Intro to Governmental Accounting
Field(s) of Study: Accounting Governmental

NASBA Approved

Basic Level

2.0 Hrs

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    Learning Objectives

    Describe the unique accounting principles and transactions applicable to governmental entities.

    Level

    Basic

    Prerequisites

    None

    Advanced Preparation

    None

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Title : Consideration of Fraud

Presented By : Melisa Galasso

AU-C 240, Consideration of Fraud in a Financial Statement Audit, (formerly SAS 99) provides auditors with guidance on the consideration of fraud when a financial statement audit is conducted and is effective for audits of financial statements. This course will help auditors understand their responsibilities for detecting fraud as well as the audit procedures for responding to the fraud risk analysis. 

Key Topics: Risk assessment; Audit procedures; Definition of fraud

Field(s) of Study: Auditing

NASBA Approved

Basic Level

2.0 Hrs

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  • More Info

    Learning Objectives

    • Define fraud 
    • Describe audit procedures required to respond to fraud risk 

    Level

    Basic

    Prerequisites

    None

    Advanced Preparation

    None

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