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Instructor : 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 key the 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 recently issued and soon to be effective ethics rules that CPAs in both industry and public accounting need to know to be compliant. We'll close with a look at ethical dilemmas and technology.

Field(s) of Study: Regulatory Ethics
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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
    • Describe Kidder’s Nine Checkpoints for Ethical Decision Making

    Level

    Basic

    Prerequisites

    None

    Advanced Preparation

    None
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Environmental, Social and Governance (ESG) has become a hot topic among standard setters. This session will look at the work of the FASB, GASB, and AICPA in the areas of ESG. We’ll also look at the types of engagements CPAs can provide to entities who want assurance around their ESG reporting.

Field(s) of Study: Auditing, Accounting
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This course will look at the various rules related to Independence and compare and contrast the requirements. This overview course will help auditors understand the nuances of independence and insure they meet the requirements to perform attest services for their clients. We will review the requirements for the AICPA, GAO, DOL and PCAOB.

Field(s) of Study: Auditing
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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 recently issued and soon to be effective ethics rules that CPAs in both industry and public accounting need to know to be compliant.

Field(s) of Study: Regulatory Ethics
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    Learning Objectives

    • Recall the impact of interpretations issued by PEEC
    • Identify changes to the independence standards

    Level

    Update

    Prerequisites

    Prior experience with the AICPA Code of Professional Conduct

    Advanced Preparation

    None

  • Events
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The 2023 Oregon ethics course has been updated to include recent changes to the ethics rules issued by the AICPA last year. We’ll start out with a review of Oregon Administrative Rules & Oregon Revised Statutes and the Code of Professional Conduct. Then we will switch to the AICPA and address recent interpretations. The course includes a look at examples of ethics violations as well as case studies. 

Field(s) of Study: Regulatory Ethics
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The course will start off with a look at the Accounting Standard Updates (ASUs) issued by the FASB that will be effective in 2023. We'll also review late breaking changes to the lease standard that may impact common control entities. We'll then turn our attention from accounting to auditing where we will cover the key SASes effective this year including new standards around auditing accounting estimates an risk assessment. This course focuses on what you need to know this year to be ready for 2023 year end financial reporting and audits. 

Field(s) of Study: Accounting, Auditing
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    Learning Objectives

    • Recognize changes to financial reporting effective in 2023
    • Recall the definition of a lease under Topic 842
    • Identify changes to the requirements for audit evidence

    Level

    Update

    Prerequisites

    Knowledge of and experience with financial statements and FASB standards

    Advanced Preparation

    None

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For many small businesses, the standards issued by the FASB may have little to no effect as they impact topics that do not reflect the type of transactions that these entities most frequently experience. This class will focus on the Accounting Standards Updates (ASUs) that are most likely to impact small businesses with a focus on ASUs initiated by the Private Company Council (PCC). We'll then look at alternative reporting options to GAAP including FRF for SMEs and IFRS for SMEs for entities who don't necessarily need to prepare GAAP financial statements but want to use accrual accounting. Finally, we will transition to audit standards that small business auditors will need to implement this year, including changes to auditing accounting estimates and risk assessment. 

Field(s) of Study: Accounting, Auditing
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    Learning Objectives

    • Recall ASUs impacting small businesses 
    • Identify the impact of SAS 143 on audit engagements
    • Identify the changes to risk assessment as a result of  SAS 145
    • Identify reporting options for small entities other than GAAP

    Level

    Update

    Prerequisites

    Knowledge of and experience with accounting and auditing standards as applied to small businesses

    Advanced Preparation

    None

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The Enhancing Audit Quality Initiative has identified inadequate or nonexistent audit documentation as one of the biggest issues facing the profession. Over half of the engagements reviewed by the AICPA did not meet the requirements of AU-C 230. This course will look at common misconceptions related to audit documentation and help attendees address these deficiencies with best practices.

Field(s) of Study: Auditing
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Individuals who work in a governmental environment have many rules of ethics that must be followed. The Government Accountability Office (GAO) issues Yellow Book providing rules related to ethics and independence, which received a significant update in 2018. We'll review some of the key elements of ethics relevant to governmental entities and auditors to prevent independence noncompliance.

Field(s) of Study: Regulatory Ethics
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The Auditing Standards Board has completed their update of the three engagement types in the SSAEs. We’ll review the changes to the examination, review and agreed upon procedures standard to provide you with a look at the changes to performance and reporting requirements.


Key Topics:

  • Agreed Upon Procedures
  • Examination Engagements
  • Attestation Standards
Field(s) of Study: Auditing
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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 attestation standards

    Advanced Preparation

    None

  • Events
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The AICPA's Auditing Standards Board has issued numerous standards that are effective in 2023. We'll review the impact of the changes to auditing estimates, risk assessment, noncompliance with laws and regulations (NOCLAR), as well as the changes coming down the pike for quality management. This course will keep auditors up to date on the work of the ASB. 

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Field(s) of Study: Auditing
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Prior to the COVID-19 pandemic, telework was not often embraced as a form of employment. As the pandemic declines, organizations are beginning to experience the benefits of remote work and are reevaluating hiring practices to offer more telework and hybrid work options, not simply as a result of an emergency. This course will review various telework options and best practices for success.

Field(s) of Study: Business Management & Organization
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Introducing: Melissa Critcher


During this presentation, the most common mistakes made by employee benefit plan auditors, as well as, plan sponsors will be identified. Best practices for handling specific issues that arise during the course of the engagement will also be explored. This discussion will help auditors recognize potential pitfalls in audit procedures/documentation and assist plan sponsors with compliance issues.

Field(s) of Study: Auditing
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While SSARS 21 has been around for nearly a decade, preparation, compilation and review engagements continue to be a hot topic for peer review. This course will concentrate on the most common peer review findings with a focus on how to comply in an efficient but practical perspective. This course will discuss the root cause of noncompliance so that overall engagement quality increases.

Key Topics:

*  Compilation and review engagements

*  Peer review

Field(s) of Study: Auditing
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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: Auditing Governmental
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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
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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
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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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Quality management will have a big impact on CPA firms. This course will cover both SQMS 1 and 2 as well as the related engagement level standards (SAS 146 and SSARS 26). The new standards will require a risk-based approach to quality management as well as the documentation of an information & communication process. SQMS 1 is required to be implemented at all accounting firms by December 15, 2025 but due to the size of the effort, firms should start their implementation process ASAP. SQMS 2 covers the appointment and eligibility of the engagement quality reviewer and the performance of the reviews. SAS 146 addresses the specific responsibilities of the auditor regarding quality management at the engagement level for an audit of financial statements and the related responsibilities of the engagement partner. SSARS 26 amends AR-C Sections to be consistent with these new standards. This two hour class will provide a deep dive into what you need to know to start your implementation process!
Field(s) of Study: Auditing
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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.

Field(s) of Study: Auditing
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One of the three major forms of occupational fraud, along with corruption and asset misappropriation, is financial statement fraud.  From improper asset valuation to fictitious revenues, this course will review financial statement fraud red flags and examine real-life examples. 

Field(s) of Study: Auditing
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Yellow Book and Single Audit engagements are considered must select engagements for Peer Review. This course will cover the Yellow Book independence requirements which are required any time an auditor is performing a Yellow Book or Single Audit even when the engagement is for a for-profit entity. 


We'll also review the new alternative engagements that have been created by various federal agencies to provide alternatives to Single Audits including SVOG, CSLFRF, and PRF engagements. We'll close with a look at the major changes in the 2023 Compliance Supplement and the COVID deficiencies identified by the federal agencies and peer reviewers.

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Field(s) of Study: Auditing Governmental
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    Learning Objectives

    • Identify changes to single audits as a result of the 2023 Compliance Supplement 
    • Describe alternative engagements to single audits subject to Yellow Book 
    • Recall common deficiencies found related to COVID-19 funding 
    • Recall the independence requirements in Yellow Book

    Level

    Update

    Prerequisites

    Knowledge of and experience with government audits using Yellow Book

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This two hour course will cover the GASB standards that are effective this year with a deeper dive into GASB 94, Public Private Partnerships and GASB 96, Subscription Based IT Arrangements. We'll also look at smaller standards that are effective for 2023 year ends.

Field(s) of Study: Accounting Governmental
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    Learning Objectives

    • Recall the impact of GASB 94 on financial reporting for governments 
    • Describe the accounting for subscription based IT arrangements 
    • Recall the impact of standards effective in 2023

    Level

    Update

    Prerequisites

    Experience with and knowledge of Governmental GAAP standards

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CPAs in public practice are required to maintain independence. In this course, we will discuss concepts associated with independence and review the rules from the AICPA Code of Professional Conduct with a focus on their practical application. 

We will also review the recently issued ethics interpretations from the Professional Ethics Executive Committee (PEEC), which impact independence, and discuss practical methods of implementation.

Field(s) of Study: Regulatory Ethics
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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.

Field(s) of Study: Auditing
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  • The Uniform Guidance identifies COSO and Green Book as best practices in internal control. This course will cover the background on COSO and its 2013 update. We’ll also review the application of COSO to Green Book. Attendees will learn how to leverage Part 6 of the Compliance Supplement for documentation of internal controls. 
Field(s) of Study: Auditing Governmental
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Based on an AICPA Enhancing Audit Quality study, 23% of all single audits subject to enhanced oversight were materially non-conforming with professional standards due to failure to properly test controls over compliance. 


This course will provide an overview of internal controls over compliance specifically related to Single Audits. We will discuss how to apply the concept of internal controls to various compliance requirements. Additionally, a common finding in the audits of governmental entities receiving federal grants is the misidentification of controls and mistaking compliance for a control. That's why this course will also focus on identifying compliance versus controls over compliance. 


Key Topics: 

Internal controls over compliance 

Compliance requirements 

COSO 

Field(s) of Study: Auditing Governmental
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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
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Nonprofits face unique accounting challenges. This course will introduce attendees to the financial statements and unique accounting principles applicable to not-for-profit organizations. Specifically, we will focus on the typical transactions and account balances unique to NFPs, including net assets, agency transactions, contributions, endowments, and programmatic investments.

Key Topics:

  • Contributions
  • Net asset categories
  • Endowments
  • Programmatic Investments
Field(s) of Study: Accounting Governmental
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Single Audits are an area of focus for the AICPA's Enhancing Audit Quality Initiative. The Uniform Guidance provides very unique audit requirements when auditing federal funds. This course will look into the unique performance and reporting requirements in Single Audits. Participants will have a basic understanding of internal controls over compliance, compliance requirements, how to use the Compliance Supplement, and the elements of a finding in a Single Audit.

Key Topics:

  • Uniform Guidance
  • Internal Controls over Compliance
  • Reporting
Field(s) of Study: Accounting Governmental
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Performing engagements in accordance with Generally Accepted Government Auditing Standards (GAGAS or “Yellow Book”) requires additional reporting, ethics, and performance requirements. This course will identify and review the guidance found in the Yellow Book and analyze the relationship between Government Auditing Standards and the AICPA Code of Professional Conduct. We will review the Yellow Book requirements for financial statement audits while also touching upon ethical principles and independence.

Key Topics

  • Ethical requirements and independence Reporting
  • Financial statement audit differences
Field(s) of Study: Auditing Governmental
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