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Monday, September 20, 2021 Live Webcast

Focus on Engagement Quality: How to Avoid Deficiencies in Peer Reviews (E2109101)

9:00 AM - 4:30 PM EDT

Registration: 8:30 AM EDT

webcast

Vendor Platform

8.0 CPE Credits in AA

OVERVIEW

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.

This course features a live instructor and has been specifically designed for the NJCPA.

DESIGNED FOR

Accounting and auditing practitioners at all levels desiring to improve engagement quality

BENEFITS

  • Identify key elements of the AICPA’s Enhancing Audit Quality initiative.
  • Recognize key trends in recent peer review deficiencies noted.
  • Identify professional standards related to performing a risk assessment, understanding and testing internal controls and linking these procedures to further audit consideration.
  • Implement best practices to help ensure overall engagement quality.

HIGHLIGHTS

  • AICPA’s Enhancing Audit Quality initiative
  • Feedback from peer reviews, including areas driving deficiencies in audit
  • Elements of an effective risk assessment and how to link to audit procedures performed
  • Understanding internal controls and making the decision whether or not to test them
  • Issues related to compilations and reviews
  • Issues related to employee benefit plans
  • Issues related to Government Auditing Standards/Single Audits
  • Best practices in documentation

COURSE LEVEL

Intermediate

PREREQUISITES

Experience in accounting and auditing.

ADVANCE PREPARATION

None

INSTRUCTOR

Michael Morgan

Michael J. Morgan, CPA

Michael J. Morgan is President of Langford Educational Enterprises, Inc., a consulting firm specializing in international auditing and taxation located in Griffin, Georgia. An accomplished author and instructor with over 35 years of experience in public speaking, Morgan has traveled internationally, writing manuals, and conducting seminars on accounting- and auditing-related topics for former communist countries. He is the recipient of several “Outstanding Discussion Leader” awards from the New York, Illinois, Nevada, and Virginia Society of CPAs on the topics of accounting and auditing, staff training, governmental, and not-for-profit entities. For several semesters, he was an accounting instructor in the School of Business at Old Dominion University located in Norfolk, Virginia. In 2015 and 2016, he received the Surgent Outstanding Discussion Leader Award because of his consistently high evaluations for knowledge and presentation skills. Morgan currently practices in the greater Atlanta, Georgia, area. Morgan is licensed as a Certified Public Accountant in Georgia, Virginia, and New York. He is a past member of the Virginia Society of CPAs. He is a member of the Georgia Society of CPAs and the Association of Certified Fraud Examiners.

PRICING

$289.00 - Member

$439.00 - Nonmember

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Note: Online pre-registration will close on September 20 at 8:30 AM.

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COURSE DEVELOPER

Surgent