Bergen Chapter Kicks Off Season Pass with an A&A Update
On Thursday, Sept. 21, the Bergen Chapter held it’s annual Accounting & Auditing Update at Bergen Community College.
Michael Kaplan, CPA, delivered a general accounting and audit update on the new FASB, SSARS and audit standards in effect for 2023 as well as future standards. He fielded questions from the audience and had a robust conversation about the implementation hiccups with the new lease standard.
John Raspante, CPA, delivered a dynamic presentation about professional liability and risks associated with assurance services. Case studies were discussed that highlighted the need for detailed, clear engagement letters in the event there is a claim filed against the preparer.
John provided the audience with his top 10 engagement letter requirements in order for them to be protected.
The audience walked away with a deeper understanding of the new accounting and auditing standards as well as a need to review their engagement letters for professional liability protection.
The chapter thanks event sponsor, CounterPoint, a cloud-based system that seamlessly manages the entire lifecycle of your employees from talent acquisition to culture and engagement to payroll, benefits administration and performance management.