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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2025 AICPA Regulatory Ethics Update - VBOA
Title : 2025 AICPA Regulatory Ethics Update: Virginia Approved
Instructors : Melisa Galasso
Stay ahead of the curve with this VBOA-approved ethics course designed to meet Virginia's ethics requirements while keeping you informed on the latest developments at the AICPA. The Professional Ethics Executive Committee (PEEC) has been active recently, issuing new guidance and updating existing rules. In this session, we'll explore the most impactful changes, including updates on fees, recruiting, CPE, and NOCLAR (noncompliance with laws and regulations). CPAs in both industry and public accounting will gain the insights needed to stay compliant in an evolving regulatory environment. We'll also provide a sneak peek at key projects PEEC is expected to finalize soon, ensuring you're prepared for what's next.
This course is for CPAs Licenced in the Commonwealth of Virginia. If you do not need Virginia specific ethics, please take our standard 2025 AICPA Regulatory Ethics Update.
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Learning Objectives
- Identify the impact of recently issued ethics interpretations on independence
- Recognize changes to ethics standards issued by PEEC
- Identify proposed changes to ethics requirements
Level
BasicPrerequisites
None
Advanced Preparation
None
Government Ethics: Theory & Application - Virginia Approved (2025 Edition)
Title : Government Ethics - Theory & Application - Virginia Approved (2025 Edition)
Instructors : Alex Romero
As a VBOA-approved ethics course, this training begins with the 2025 VBOA Ethics Updates. From there, we will delve into the ethical principles outlined in the Yellow Book, including serving the public interest, maintaining integrity, objectivity, and professional behavior. Practical applications of these ethical principles will be discussed, including strategies for adhering to independence standards, maintaining objectivity, and avoiding conflicts of interest. Gain valuable insights to support unbiased, professional audits while reinforcing your commitment to ethical practices in governmental auditing.
This course is for CPAs Licenced in the Commonwealth of Virginia. If you do not need Virginia-specific ethics, please take our standard "Yellow Book Ethics" course.
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Learning Objectives
- Identify independence rules in Yellow Book
- Recognize the ethical principles in GAGAS
Level
BasicPrerequisites
None
Advanced Preparation
None
Power Skills: Your Guide to Professionalism and Client Interactions
Title : Power Skills: Your Guide to Professionalism and Client Interaction
Instructors : Jacyln Veno
Client interactions and professionalism are at the core of what we do as accountants. However, communication with clients is not always as straightforward as it may seem. Sometimes there will be difficult conversations and disagreements that can be tough to navigate. During this course, we will discuss best practices when communicating with the client, and also walk through complicated scenarios to practice what we learn.
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Learning Objectives
- Recall best practices in professionalism during oral and written communication with clients
Level
BasicPrerequisites
None
Advanced Preparation
One year of auditing experience
Introduction to Ethics & Professional Skepticism
Title : Introduction to Ethics & Professional Skepticism
Instructors : Jacyln Veno
Ethics and professional skepticism are a cornerstone of public accounting. This course will review the Code of Ethics for Professional Accountants that practitioners must adhere to. This course will outline the pressures, opportunities, and rationalizations that lead to instances of fraud. In addition, this class will walk through some interactive examples to illustrate various scenarios of noncompliance during engagements.
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Learning Objectives
- Recognize noncompliance with ethical standards during engagements
- Recall the five fundamental principles of ethics for professional accountants
Level
BasicPrerequisites
None
Advanced Preparation
None
Internal Controls Over Compliance vs Compliance
Title : Internal Controls Over Compliance vs Compliance
Instructors : Melisa Galasso
Course Description: Accurately identifying and testing controls over compliance is critical, yet it remains a common deficiency highlighted in peer reviews. This course offers a comprehensive overview of internal controls over compliance, with a focus on their application to Single Audits. Participants will learn how to effectively align internal controls with specific compliance requirements. Additionally, we will address one of the most frequent findings in audits of governmental entities receiving federal grants: the misidentification of controls and the confusion between compliance and control processes. This course will help clarify the distinction, equipping you with the tools to enhance audit quality and ensure compliance effectiveness.
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Learning Objectives
- Identify internal controls over compliance for a given compliance requirement
- Recognize compliance requirements per the Compliance Supplement
- Identify an audit procedure to test the operating effectiveness of a given control
Level
BasicPrerequisites
None
Advanced Preparation
None
SAS 145 - Risk Assessment
Title : SAS 145 - Risk Assessment
Instructors : Melisa Galasso
SAS 145, Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement, was issued in October 2021. The audit standard amends AU-C 315 including many changes to address common audit deficiencies. This course will provide an overview of SAS 145 and its changes to AU-C 315.
Key Topics
Risk Assessment
AU-C 315
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Learning Objectives
Identify changes to AU-C 315
Describe the new risk assessment standard
Level
UpdatePrerequisites
Prior experience with risk assessment standards of the AICPA
Advanced Preparation
None
2025 Accounting and Auditing Update
Title : 2025 Accounting and Auditing Update
Instructors : Melisa Galasso
Stay informed and prepared with this comprehensive annual update on the latest developments in accounting and auditing. We'll begin with a deep dive into the Accounting Standards Updates (ASUs) effective in 2025, followed by insights from the FAF's 2024 PCC Review and an overview of FASB's Invitation to Comment - Agenda Consultation, which will shape the future of accounting standards. On the auditing side, we'll tackle the essential changes in quality management standards that firms must implement by the end of 2025. The session will also highlight common deficiencies identified by the DOL in EBP (Employee Benefit Plan) engagements and provide a peek at upcoming projects from the Auditing Standards Board (ASB). Join us to gain practical insights and actionable takeaways to navigate these updates with confidence.
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Learning Objectives
- Recognize the impact of Accounting Standards Updates effective in 2025 on financial reporting
- Recall the changes made to PCC processes as a result of the 2024 PCC Review
- Identify potential topics identified by advisory groups in the FASB's ITC agenda consultation
- Identify the components of quality management
- Recall deficiencies identified by the DOL for EBP audits
- Recall key projects of the Auditing Standards Board
Level
UpdatePrerequisites
Prior experience with GAAP and GAAS
Advanced Preparation
None
2025 Arizona Ethics
Title : 2025 Arizona Ethics
Instructors : Melisa Galasso
This course is designed to meet the four-hour ethics CPE requirements mandated by the state law in which the course is offered. We'll start the session with a review of key areas of the Arizona Administrative Rules for CPE and Professional Conduct. Then we'll review the key Arizona Revised Statutes relating to licensing and registration. We'll then transition to the AICPA ethics standards as the Professional Ethics Executive Committee (PEEC) of the AICPA has been very busy issuing new and updating existing ethics rules. This course will provide an overview of ethics rules that are recently issued and soon to be effective. CPAs in both industry and public accounting need to know these to be compliant.
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Learning Objectives
- Recall the impact of interpretations issued by PEEC
- Identify changes to the independence standards
- Recall state laws, regulations and rules regarding the practice of public accounting
Level
UpdatePrerequisites
Prior experience with the Code of Professional Conduct
Advanced Preparation
None
2025 Yellow Book Update
Title : 2025 Yellow Book Update
Instructors : Melisa Galasso
The Government Accountability Office (GAO) has released the 2024 Generally Accepted Government Auditing Standards (GAGAS). This course will examine the major changes, including the shift from quality control to quality management and the introduction of key audit matters. The 2018 Yellow Book remains effective until the implementation of the 2024 edition, which applies to: financial audits, attestation engagements, and reviews of financial statements for periods beginning on or after December 15, 2025, as well as Performance audits beginning on or after December 15, 2025. Organizations must design and implement a system of quality management by December 15, 2025, and complete an evaluation of the system by December 15, 2026. Early adoption of the 2024 Yellow Book is allowed. Gain the insights you need to navigate these critical updates effectively.
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Learning Objectives
- Recall the components of quality management in the 2024 Yellow Book
Level
UpdatePrerequisites
Prior experience with Yellow Book engagements
Advanced Preparation
None
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