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Auditing

The New AICPA Auditor’s Report (SMAA31/20)

By |2019-06-19T01:17:20-04:00July 25th, 2019|

The auditor’s report is getting a facelift. Following both the IAASB and PCAOB, the AICPA undertook a massive project to update the new report. SAS 134, Auditor Reporting and Amendments?Addressing Disclosures in the Audit of Financial Statements, was issued in April 2019. We’ll cover the new order of the report, changes to presentation as well as introduce the concept of KAM. We’ll cover when KAM is required as well as what constitutes KAM. This course is a must for auditors. The new report is effective for periods ending on or after December 15, 2020. Early implementation is NOT permitted.

Learning Objectives: 
•  List changes to the auditor’s report
•  Define Key Audit Matters

Prerequisites:  Prior experience with audit standards of the AICPA
Preparation:  None
Program Level:  Update
Field of Study:  Auditing

Who Should Attend:
Auditors from small to large firms involved in the audit of private company financial statements

Surgent’s Guide to SSARS No. 21 Preparation of Financial Statement and Compilation Engagements (COM4) (SSAA60/19)

By |2019-06-19T01:17:22-04:00June 30th, 2019|

Be the go-to person on compilation and financial statement preparation engagements. Specifically designed for preparation and compilation practitioners and their staff, this course will provide you with a hands-on application for performing preparation and compilation engagements. You will learn the ins and outs of relevant sections of SSARS No. 21, Clarification and Recodification, the most significant change to the SSARS since their inception over thirty years ago. This course will bring you up to date on SSARSs requirements and guidance as it relates to preparation and compilation engagements. More importantly, it will provide you with practical examples and illustrations to help you effectively and efficiently perform those engagements. Plus, the course will cover new guidance relevant to compilation and preparation engagements which was introduced by SSARS No. 22, Compilation of Pro Forma Financial Information, and SSARS No. 23, Omnibus Statement on Standards for Accounting and Review Services - 2016.

Surgent’s Reviewing Workpapers – Avoiding Deficient Audits (Audit Skills Training: Level 6) (A6M1) (SSAA37/19)

By |2019-06-19T01:17:25-04:00June 30th, 2019|

Upper-level reviewers have significant responsibilities for ensuring high quality audit engagements. Unfortunately, deficient audits have serious negative consequences for both the CPA firm and the profession as a whole. This module highlights the most important considerations for those with quality control responsibilities on audit engagements.

Surgent’s How to Do a GAAS Audit (GAAS) (SSAA85/19)

By |2019-06-19T01:17:26-04:00June 30th, 2019|

In arriving at and providing an opinion on the financial statements, auditors follow approximately 1,000 pages of generally accepted auditing standards (GAAS)! It takes a great deal of effort and energy to keep up with the current requirements. Designed for everyone in the firm, this course will replenish your tank with a deep understanding of GAAS needed to fuel high-performance audits under today's standards. The course materials utilize a highly illustrative and innovative format. Over 30 focused exercises are included to provide an enhanced working knowledge of today's GAAS.

Surgent’s Internal Control Fundamentals (Audit Skills Training: Level 1) (A1M7) (SSAA06/19)

By |2019-06-19T01:17:27-04:00June 30th, 2019|

Obtaining an understanding of the entity and its environment is part of assessing risk of material misstatement, in order to design the nature, timing and extent of further audit procedures necessary to obtain sufficient appropriate audit evidence to support the auditor's report. A critical component of understanding the entity and its environment is to evaluate the design and implementation of internal control over financial reporting.

Surgent’s Key COSO Concepts: Managing Risk to Achieve Your Business Objectives (COS4) (SSAA62/19)

By |2019-06-19T01:17:31-04:00June 30th, 2019|

All successful entities, regardless of nature, size, and complexity, must have a well-designed and effectively operating system of internal controls over reliable financial reporting, in addition to managing other risks. This course will provide practical guidance on exactly what a sound system of internal controls "looks like" and the resulting impact on the reliability of financial statements, particularly for smaller entities. In addition, we will explore COSO's 2013 Internal Control - Integrated Framework that is used to better manage the unique and challenging risks of today's entities.

Surgent’s Internal Control Testing for Operating Effectiveness (Audit Skills Training – Level 3) (A3M4) (SSAA18/19)

By |2019-06-19T01:18:06-04:00June 30th, 2019|

Properly designed and effectively operating internal control over financial reporting is critical for preventing, or detecting and correcting, material misstatement. This module will describe how to satisfying the audit requirements related to internal control, while promoting an effective and efficient financial statement audit.

Surgent’s Assessing Risk for a Higher Quality Audit (Audit Skills Training – Level 4) (A4M3) (SSAA25/19)

By |2019-06-19T01:18:13-04:00June 30th, 2019|

The biggest factors that lead to an effective and efficient financial statement audit are the properly identification, evaluation, and response to risk of material misstatement. Assessed risk of material misstatement leads to the generation of the nature, timing and extent of further audit procedures. This module will focus on how to enhance the engagement team brainstorming and discussions to leverage knowledge to create a high-quality and profitable audit approach.

Surgent’s Responsibilities When Reviewing Workpapers (Audit Skills Training – Level 4) (A4M2) (SSAA24/19)

By |2019-06-19T01:18:29-04:00June 30th, 2019|

Audit documentation provides the principal support for an auditor's report. Therefore, it is critical for workpaper reviewers to perform quality control procedures to ensure that professional and regulatory standards are met. In addition, the workpaper review process should be used as a tool for professional development and promoting efficient audits. This module will provide the tips and tools for satisfying these important workpaper reviewer responsibilities.

Surgent’s Auditing Estimates (Audit Skills Training – Level 4) (A4M5) (SSAA27/19)

By |2019-06-19T01:18:31-04:00June 30th, 2019|

Accounting estimates are an approximation of a monetary amount in the absence of a precise means of measurement. The risks of material misstatement for areas of estimation tend to be higher due to the dependence on future events and the intended actions of management. This module will discuss tips and techniques for gathering sufficient appropriate audit evidence to support conclusions related to accounting estimates.

Surgent’s AICPA Update (AICU) (SSAA48/19)

By |2019-06-19T01:18:44-04:00June 30th, 2019|

Designed for accounting and auditing practitioners at all levels in both public accounting and business and industry, this course provides an overview of the AICPA's new special purpose framework, Financial Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEsT); a Compilation and Review Update, including a discussion of the recently issued SSARS No. 22 and 23; as well as recent activities of the Auditing Standards Board (ASB) and other AICPA Boards and affiliated organizations. You will learn about the latest standards, exposure drafts, and guidance focusing on issues applicable to accountants and auditors in public accounting and private industry.

Surgent’s Accounting, Audit, and Attest Update for Practitioners with Small-Business Clients (SMBP) (SSAA107/19)

By |2019-06-19T01:21:17-04:00June 30th, 2019|

Specifically tailored for practitioners who do not perform audits, but provide other attest and non-attest services to small and medium-sized businesses, this course is a comprehensive update covering recently issued accounting, compilation, and review standards, as well as other professional guidance impacting small and medium-sized business accountants. The course uses practical examples and illustrations to help you understand and apply the material in practice.

Surgent’s Current Issues in Accounting and Auditing: An Annual Update (AAU4) (SSAA39/19)

By |2019-06-19T01:21:22-04:00June 30th, 2019|

Designed for accounting and attestation practitioners at all levels in both public accounting and business and industry, this course provides an overview of recent accounting, compilation, preparation, review, and attestation matters including: recently issued Accounting Standards Updates (ASUs); the FASB's comprehensive new Revenue Recognition standard - Topic 606; Lease Accounting - Topic 842; Financial Instruments; SSARS No. 21, Clarification and Recodification and other new standards issued by the ARSC; recent AICPA and PCAOB releases; and other important A&A practice matters you should be aware of.

Surgent’s Small-Business Accounting, Audit, and Attest Update (SMP4) (SSAA108/19)

By |2019-06-19T01:21:26-04:00June 30th, 2019|

Specifically tailored for practitioners who do not perform audits, but provide other attest and non-attest services to small and medium-sized businesses, this course is a comprehensive update covering recently issued accounting, compilation, and review standards, as well as other professional guidance impacting small and medium-sized business accountants. The course uses practical examples and illustrations to help you understand and apply the material in practice.

Surgent’s Properly Identifying, Evaluating and Documenting Results of Presumed Risk Assessment Audit Procedures (IEDC) (SSAA95/19)

By |2019-06-19T01:19:54-04:00June 30th, 2019|

Recent auditing standards have emphasized the initial information gathered and important conclusions reached during risk assessment procedures to identify and evaluate risk of material misstatement in a financial statement audit. These important procedures provide the basis for determining how much effort will be invested in evaluating the design and implementation of internal controls. In addition, these procedures provide the rationale for effectively and efficiently designing the nature, timing and extent of further audit procedures (which includes tests of controls for operating effectiveness and substantive audit procedures).

Surgent’s Guide to SSARS No. 21 Preparation of Financial Statement and Compilation Engagements (COM4) (SSAA59/19)

By |2019-06-19T01:19:55-04:00June 30th, 2019|

Be the go-to person on compilation and financial statement preparation engagements. Specifically designed for preparation and compilation practitioners and their staff, this course will provide you with a hands-on application for performing preparation and compilation engagements. You will learn the ins and outs of relevant sections of SSARS No. 21, Clarification and Recodification, the most significant change to the SSARS since their inception over thirty years ago. This course will bring you up to date on SSARSs requirements and guidance as it relates to preparation and compilation engagements. More importantly, it will provide you with practical examples and illustrations to help you effectively and efficiently perform those engagements. Plus, the course will cover new guidance relevant to compilation and preparation engagements which was introduced by SSARS No. 22, Compilation of Pro Forma Financial Information, and SSARS No. 23, Omnibus Statement on Standards for Accounting and Review Services - 2016.

Surgent’s Annual Accounting and Auditing Update (ACAU) (SSAA44/19)

By |2019-06-19T01:21:31-04:00June 30th, 2019|

Designed for accounting and attestation practitioners at all levels in both public accounting and business and industry, this course provides a comprehensive review of recent standard setting activities of the PCC, FASB, ASB, and ARSC. Not only will this course bring you up-to-date on the requirements, it also provides you with many hands-on examples and illustrations to help you apply the guidance in practice. You'll learn about the latest standards, exposure drafts, and guidance focusing on issues applicable to accountants and attestation practitioners in public accounting and private industry. This course also includes a discussion of common audit quality issues noted in peer reviews; updates practitioners on the latest developments impacting compilation, preparation, and review engagements; and discusses other matters of interest to all accountants.