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Instructor : Melisa Galasso

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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    Learning Objectives

    • Identify types of engagements CPAs can perform on ESG related items
    • Describe current projects of accounting standard setters

    Level

    Basic

    Prerequisites

    None

    Advanced Preparation

    None

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Yellow Book & UNI Guidance  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 take a look at the major changes in the 2024 Compliance Supplement as well as the changes to the Uniform Guidance. We'll close with major deficiencies identified by the federal agencies and peer reviewers. Identify changes to single audits as a result of the 2024 Compliance Supplement Describe the changes to Chapter 5 of Yellow Book.

Field(s) of Study: Auditing
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    Learning Objectives

    • Recognize changes to the Uniform Guidance 
    • Recall common deficiencies found related to Single Audits 
    • Recall the independence requirements in Yellow Book Identify the proper method of identifying and testing internal controls over compliance

    Level

    Update

    Prerequisites

    Prior experience with GAGAS and the Uniform Guidance

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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. 

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

    • Recall ASUs impacting small businesses 
    • Identify reporting options for small entities other than GAAP
    • Recognize the changes to quality required of small firms 

    Level

    Update

    Prerequisites

    Prior experience with GAAP and GAAS

    Advanced Preparation

    None

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More and more entities need Yellow Book engagements, including a growing number of for-profit entities. In this course, we will review the unique independence requirements in GAGAS. We'll also review the recent changes to quality management in Yellow Book. We'll close with a reminder of common deficiencies found in Yellow Book engagements. Describe the changes to Chapter 5 of Yellow Book .

Field(s) of Study: Auditing Governmental
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    Learning Objectives

    • Recognize common Yellow Book deficiencies 
    • Recall the independence requirements in Yellow Book Learning Objectives 

    Level

    Intermediate

    Prerequisites

    Prior Experience with GAGAS

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This course will review common deficiencies identified by the AICPA and state boards of accountancy. It features discussion on a variety of topics, including analytical procedures, sampling, group audits and risk assessment. We will review the areas of concern and how you can overcome them by employing best practices.

Field(s) of Study: Auditing
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    Learning Objectives

    • Describe common audit deficiencies
    • Identify proper methods of performing risk assessment and analytical procedures
    • Recall best practices for audit sampling
    • Recognize changes to auditing standards for group audits and risk assessment

    Level

    Intermediate

    Prerequisites

    Prior experience with GAAS

    Advanced Preparation

    None

  • Events
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The AICPA's Auditing Standards Board has several large projects that will be impacting entities in the near future. We'll take a deep dive into the changes related quality management as well as group audits. We'll also review common audit deficiencies. This course will keep auditors up to date on the work of the ASB.

Field(s) of Study: Auditing
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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 course will start off with a look at the Accounting Standard Updates (ASUs) issued by the FASB that will be effective in 2024 as well as those that may be great for early adoption. The course will also review year 2 issues in lease accounting including how to handle lease modifications. We'll then turn our attention from accounting to auditing where we will cover the audit standards coming down the pike including group audit and quality management.

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

    • Recognize changes to financial reporting effective in 2024
    • Identify the requirements for lease modification accounting
    • Identify changes to the requirements for group audits
    • Recall the impact of quality management on A&A practices

    Level

    Update

    Prerequisites

    Prior experience with GAAP and GAAS

    Advanced Preparation

    None

  • Events
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The Not-for-Profit Advisory Committee has been busy discussing several projects that the FASB is working on and their impact on nonprofits. In

this course, we will review the key issues and discussions from recent NAC meetings. We'll also take a look at ASUs issued by the FASB that may impact nonprofit financial statements. After a break, we then transition from accounting to auditing with a look at the common deficiencies found in nonprofit Yellow Book audits with a focus on CPE, reporting, and independence.

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

    • Recall the impact of ASUs on nonprofit organizations
    • Recall the activities of the nonprofit advisory committee
    • Identify common deficiencies in Yellow Book Engagements
    • Recall the independence requirements in Yellow Book

    Level

    Update

    Prerequisites

    Prior experience with nonprofit financial reporting and GAGAS

    Advanced Preparation

    None

  • Events
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The course will start with the Accounting Standard Updates effective in 2024 for public entities, private entities, and nonprofits. We will also review year 2 implications of the leases standard including modification accounting. We will then switch our attention to the items coming down the pike, including a look at the projects identified by the FASB's Invitation to Comment: Agenda Consultation.

Field(s) of Study: Accounting
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    Learning Objectives

    • Identify the impact of ASUs that are effective in 2024 on financial reporting
    • Describe the impact of the lease modification on financial reporting
    • Identify FASB ASUs that will be effective after 2024

    Level

    Update

    Prerequisites

    Prior experience with GAAP

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AU-C Section 315 requires the auditor to gain an understanding of the entity and its environment and the entity's internal controls in order to design appropriate audit procedures. This course will review the key requirements of COSO which is one of the most widely used internal control frameworks. We'll also review the limitations of internal controls. Additionally, this course will introduce the risk assessment process and the various audit procedures to evaluate controls and to determine whether to test the operating effectiveness of controls.

Field(s) of Study: Auditing
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The GASB has been working on some big projects lately. We kick off this course with a look at the GASB standards that are effective this year including GASB 100, Accounting Changes and Error Corrections and GASB 101, Compensated Absences. We will then switch gears to the GASB standards coming down the pike, including the major projects of the GASB. 

Field(s) of Study: Accounting Governmental
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    Learning Objectives

    • Recall the impact of GASB 100 and 101 on financial reporting for governments
    • Recall the impact of standards effective in 2024
    • Recall major projects the GASB is working on Identify GASB standards effective after 2024

    Level

    Update

    Prerequisites

    Prior experience with governmental financial reporting

  • Events
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2024 NOT-FOR-PROFIT GAAP UPDATE This course will review the Accounting Standard Updates issued by the FASB that impact nonprofit entities. We will also look at the work of the Not-for-Profit Advisory Committee (NAC) and the projects they are advising the FASB on. 

Field(s) of Study: Accounting Governmental
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    Learning Objectives

    • Recall the impact of ASUs on nonprofit organizations
    • Recognize the activities of the nonprofit advisory committee Learning Objectives Field of Study

    Level

    Update

    Prerequisites

    Prior experience with nonprofit GAAP

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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.

Field(s) of Study: Regulatory Ethics
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This course will serve as an introduction to conducting effective walkthroughs to gain an understanding of the client's transaction processes as well as identifying internal controls within each process. This course will review the procedures, questions to ask, and documentation requirements of walkthroughs. It will also include real-world examples of the red flags that may arise while executing a walkthrough.

Field(s) of Study: Auditing
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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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Sampling is often identified as a common audit deficiency in peer review. This course will review when is sampling applicable and basics of planning a sample. We'll then focus on the application of sampling in financial statement audits with a look at sampling for substantive procedures. We'll look at the use of monetary unit sampling and tools that can be leveraged to reduce bias in sampling.

Field(s) of Study: Auditing
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    Learning Objectives

    • Identify when a procedure requires sampling
    • Recall key elements of a sampling plan
    • Recognize proper application of AU-C 530 for tests of details
    • Perform MUS sampling

    Level

    Basic

    Prerequisites

    None

    Advanced Preparation

    None

  • Events
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We kick off this course with a look at the GASB standards that are effective this year including GASB 100, Accounting Changes and Error Corrections and GASB 101, Compensated Absences. We will then switch to the audit side of the house to examine the impact of the 2024 Compliance Supplement on Single Audits and the changes to the Uniform Guidance. We close with a look at common deficiencies found in Single Audits. 

Field(s) of Study: Accounting Governmental
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    Learning Objectives

    • Recall the impact of GASB 100 and 101 on financial reporting for governments
    • Recall the impact of standards effective in 2024
    • Identify changes to single audits as a result of the 2024 Compliance Supplement
    • Recall common deficiencies found related to Single Audits
    • Recognize changes to the Uniform Guidance

    Level

    Update

    Prerequisites

    Prior experience with governmental financial reporting and auditing

  • Events
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AU-C Section 315 requires the auditor to gain an understanding of the entity and its environment and the entity's internal controls in order to design appropriate audit procedures. This course will review the key requirements of COSO which is one of the most widely used internal control frameworks. We'll also review the limitations of internal controls. Additionally, this course will introduce the risk assessment process and the various audit procedures to evaluate controls and to determine whether to test the operating effectiveness of controls.

Field(s) of Study: Accounting
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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

    Basic

    Prerequisites

    None

    Advanced Preparation

    None

  • Events
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The Not-for-Profit Advisory Committee (NAC) has been meeting with FASB to discuss the impact of various standards on the nonprofit community. In this course, we will explore the work of the NAC and the impact they've had. We then transition to the Accounting Standards Updates (ASUs) issued by the FASB that are impacting nonprofit entities, including a review of year 2 issues with respect to the leases standard including modification accounting. We will close with a look at common deficiencies found in nonprofit financials.
Field(s) of Study: Accounting Governmental
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    Learning Objectives

    • Recall the impact of ASUs on nonprofit organizations
    • Recall the activities of the nonprofit advisory committee
    • Identify the financial reporting impact of modification of lease contracts
    • Identify common deficiencies in nonprofit accounting
    • Recall proper accounting for common deficiencies found in nonprofit financial reporting

    Level

    Update

    Prerequisites

    Prior experience with nonprofit GAAP

  • 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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    Learning Objectives

    • Recall OAR and ORS rules impacting CPAs
    • Describe changes to the AICPA Code of Professional Conduct

    Level

    Basic

    Prerequisites

    None

    Advanced Preparation

    None

  • Events
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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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    Learning Objectives

    • Describe the minimum documentation requirements from AU-C 230
    • Recall common work paper deficiencies identified by the AICPA

    Level

    Intermediate

    Prerequisites

    Prior experience with GAAS

    Advanced Preparation

    None

  • Events
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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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    Learning Objectives

    • Recall safeguards that can be used to reduce threats to an acceptable level
    • Identify threats to independence

    Level

    Basic

    Prerequisites

    None

    Advanced Preparation

    None

  • Events
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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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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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    Learning Objectives

    • Distinguish between the four different personality styles of communication.
    • Recall best practices in facilitating remote presentations.

    Level

    Basic

    Prerequisites

    None

    Advanced Preparation

    None

  • Events
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