2025 Audit and Attestation Q & A
Author: Pat Patterson
| CPE Credit: |
2 hours for CPAs |
The AICPA has posted questions and answers issued since the past year. The questions and answers in this section are not sources of established authoritative principles. This material is based on selected practice matters identified by the staff of the AICPA's Technical Hotline and various other bodies within the AICPA and has not been approved, disapproved, or otherwise acted upon by any senior committee of the AICPA. The selected questions and answers are from common issues that professionals encounter in their work. Examples of these issues are important to understand so as not to create errors in financials.
Publication Date: April 2025
Designed For
Attendees should include professionals in public accounting, in business, in management, in not-for-profits, and others that would like to have the latest questions answered by the staff of the AICPA and then discussed in this session.
Topics Covered
- Implications of new SASs for audits including format and disclosures
- Issues with classifications
- Comparative statement disclosures
- Outstanding checks classifications
- Liquidity restrictions
- Classification of convertible debt
- Statement title when Net Loss
- Other commonly asked questions and answers
Learning Objectives
- Recognize certain unusual issues with financial statement preparation
- Identify and implement correct procedures for unusual issues
- Identify what the newly issued SASs call for
- Identify the required disclosures according to the new audit standards
- Identify the Quality Management requirements
- Identify the ASC topic that provides accounting and disclosure guidance relating to recognition and measurement in interim financial information
- Identify the date that systems of quality management in compliance with SQMS No. 1 are required to be designed and implemented by
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Accounting (1 hour), Auditing (Governmental) (1 hour)
Program Prerequisites
None
Advance Preparation
None
