This session will highlight the current practice landscape and related trends, recap the impact of the AICPA's Enhancing Audit Quality Initiative on the peer review process and results, and evaluate how to address keys risks stemming from the current business climate. Discuss common peer review, ethics and regulatory findings and provide tips for ensuring practice quality. Discuss key aspects of the AICPA's new Quality Management Standards and implementation strategies. Consider how emerging technologies are changing the nature of assurance. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Learning Objectives
After attending this presentation, you will be able to...
- Distinguish the impact of major trends in the current practice environment on audit quality
- Recall updates on the AICPA's Enhancing Audit Quality Initiative including the AICPA Peer Review Board's areas of focus
- Identify current business climate risks
Major Topics
The major topics covered in this course include:
- Overview of the trends in the practice environment impacting audit quality
- Update on the AICPA's Enhancing Audit Quality
- AICPA Peer Review Board's areas of focus
- Common peer review, ethics, and regulatory findings
- How the current business climate is challenging compliance with professional standards and the key areas to focus on during the audit risk assessment process
- Common practice issues and tips for achieving high quality engagements
- AICPA's Quality Management Standards and strategies for implementation
- Emerging technologies and new assurance opportunities
