Participants will get an overview of new developments in the area of accounting and auditing. Coverage will be updated to reflect the most recently issued official pronouncements. The course will highlight issues faced by private companies and the CPAs who provide a range of services to them.
Learning Objectives
Upon completion, participants will be able to:
Get up-to-date on what is happening in the profession today and the major issues and challenges the profession faces
Implement recent FASB standards on going concern and intangibles reporting, as well as the Board’s overhaul of not-for-profit financial reporting
Obtain a progress report on standards affecting revenue recognition, leases, and financial instruments
Gain an understanding of the accounting and audit consequences of evolving cybersecurity risks and their effects on smaller companies.
Receive a comprehensive update on SSARS 21, including engagement-driven compilations and preparation (plain paper) engagements and the effect on current compilation and review standards
Be aware of recent FASB standards and how they will affect your clients
Recognize which of the recently clarified ASB standards are affecting audit practice
Recognize current and proposed standards involving EITF, FASB, PCAOB, ASB, and IASB
Major Topics
Audit risk and the economy
Implementing recent FASB standards
Cybersecurity: Accounting & audit risks
ASU 2014-09: Revenue recognition
AICPA’s project to enhance audit quality
SSARS 21: Compilation and review update
Recent FASB pronouncements
ASB standards
Course Level
Update
Professional Area of Focus
Accounting & Auditing
Business & Industry
Practitioners
CPE Field of Study
Accounting
4
Auditing
4
Who Should Attend
Accountants in public practice and industry who need a comprehensive review of recent accounting and auditing pronouncements
Instructor(s)
William Engelbret Ray Thompson
Prerequisites
Prior learning or experience in accounting and auditing
Advanced Preparation
None
Location
Loyola University Maryland Graduate Center Columbia Campus
