Idaho Society of CPAs

Surgent's Update on Recent AICPA Standard Setting: Staying Current in a Changing Environment

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  • Date/Time
    • Jan 27, 2025
    • Sign In: 11:15am (MT)
    • Program: 11:30am - 3:00pm (MT)
    • Add to Calendar
  • Location
    • Your Computer
      Your Space
      ISCPA / Surgent Webinar, ID 00000
  • Credits
    • 4.00
  • Credit Type(s)
    • Auditing (4.00)
  • Prerequisites

    • Experience in accounting and auditing

  • Vendor
    • Surgent
  • Level
    • Intermediate
  • Fields of Study
    • Auditing
  • Message
    • Virtual Experience

Description

Professional standards are changing with the times and the desire of the AICPA to move the profession into a new era where use of technology will play a key role in an audit and professional skepticism, independence, and quality are emphasized. We are seeing changes already as the AICPA has issued 15 new standards since 2019. This program will discuss SASs 134 through 149.

Designed For

Accounting and auditing practitioners at all levels desiring to stay current on AICPA professional standards

Objectives

  • Identify and understand the requirements of recently issued SASs and SSARS
  • Develop implementation tips and best practices related to these new standards
  • Implement best practices for enhancing engagement quality

Highlights

  • AICPA hot topics and standard setting initiatives
  • Discussion of suite of nine integrated SASs effective for years ended December 31, 2021
  • Discussion of new standard on audit evidence effective for years ended December 31, 2022
  • Discussion of new standard on auditing accounting estimates and disclosures effective for years ended December 31, 2023
  • Discussion of two new standards on use of specialists and information from a pricing service, and the newly updated risk assessment standard effective for years ended December 31, 2023
  • Discussion of standards that are effective beginning in 2025 including those dealing with client acceptance and questions asked of the predecessor auditor, the partner's responsibility for engagement quality, group audits, conforming changes to compliance auditing, and more

Advanced Prep

None

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Leaders

Marci Thomas

Marci Thomas is the Director of Audit Content and a discussion leader for Surgent CPE. She has over 30 years of experience in accounting, auditing and conducting quality reviews for privately held companies, nonprofit organizations and accounting firms. Prior to becoming an author and discussion leader she was a Director with Deloitte and an assistant professor at UNC Chapel Hill. Marci's most recent publications are a book on board governance, Best of Boards, published by Wiley Publishing for the AICPA (2018) and a book on Healthcare Financial Management also published by Wiley (2020).

With over 30 years experience in accounting, auditing, evaluating internal controls and the risk of fraud, writing, teaching and speaking, I use these skills to assist my clients with their accounting, reporting, financial management, internal control and governance needs.

My clients fall into 2 domains. First- nonprofits, healthcare providers (hospitals, skilled nursing facilities, hospice providers, medical practices), governments, institutions of higher education and independent schools. For these I provide consulting services.

Second is CPA firms. I perform quality control and engagement efficiency reviews, teach continuing education and provide technical expertise for the industries noted above.

Specialties: Audit, board governance, nonprofit financial analysis including health care nonprofits, internal controls and compliance, auditing, fraud.

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