Event Description

This course will start with the Accounting Standard Updates effective in 2023 for public entities, private entities, and nonprofits. We’ll also review major changes to common control lease arrangements issued early in 2023. We’ll 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. Then we will switch gears, switching to the audit side of the house. 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. 

Designed For

Ideal for accountants in public practice and industry.

Objectives

• Recall the impact of recently issued ASUs on financial reporting
• Describe the impact of recent SASes on audit engagements

Prerequisites

Prior experience with GAAP or GAAS