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Livestream: Auditing Deficiencies in Peer Reviews: Focus on Engagement Quality

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Monday, June 1, 2020 @ 1:00pm 4:30pm
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Description

With the AICPA's heightened focus on enhancing audit quality, increased oversight of the peer review process and the auditor's overall responsibility to provide high quality services, the focus on compliance with professional standards has never been greater. Recent peer reviews have indicated that auditors are often failing to perform and/or document certain critical components of an audit such as the auditor's assessment of risk and linking the results of the assessment to substantive procedures performed. In addition, auditors are not adequately documenting their consideration of fraud, expectations in analytical procedures and the appropriate level of work needed to understand an entity's internal control. Now is time to revisit the way that auditors are performing and documenting the work performed to meet professional standards since nonconforming engagements can result in an auditor's referral to the AICPA Ethics Committee. This course will focus on the most significant items resulting in deficiencies identified in the peer review process. We will also discuss the applicable audit standards, documentation requirements and best practices. The objective of the course is to provide the insights necessary to help an auditor improve not just the quality of their work but also the perception of the accounting profession as a whole.

Credits

Category Amount
Accounting&Auditing 4.00

Course Materials

Links to the e-materials will be listed with your course registration in your account on the MSCPA website seven calendar days before the course. You will receive an e-mail when the materials are available.



Leaders

Bob Mims

Bob Mims, CPA is a financial consultant & COO of a membership-based start-up venture. He has served as CFO and Controller of large non-profits and was an auditor & recruiter with KPMG. Bob has extensive training & facilitation experience working on national conferences & international engagements. He served terms on two advisory councils for FASB & currently chairs the Environmental Roundtable. Bob lives in Memphis, TN.