This course explains the varied and unusual details of Generally Accepted Accounting Principles (GAAP) and Generally Accepted Audit Standards (GAAS) that impact the accounting and auditing principles for privately held entities.
Publication Date: June 2020
Designed For
CPAs in public practice, professionals in business, industry, and other accounting professionals working in the accounting and audit areas of under the COVID-19 issues. In addition, the AICPA’s Code of Professional Conduct (as revised) is also important to understand as it relates to independence, documentation, and form and content of financial statements.
Topics Covered
- Remote Audit Procedures
- Going concern
- Emphasis of Matter
- Scope Limitations
- Subsequent Events
- Uncertainties and risks
Learning Objectives
- Recognize difficulties of auditing for management and auditors in this pandemic
- Describe Selected Accounting Standards (GAAP) and COVID”19 Issues from the Financial Accounting Standards Board (FASB
- Describe Selected Auditing Standards (SASs) from the AICPA Auditing Standards Board (ASB) and COVID”19 Issues
- Recognize changes from the AICPA Professional Ethics Executive Committee (PEEC)
Level
Intermediate
Instructional Method
Self-Study
NASBA Field of Study
Accounting (2 hours)
Program Prerequisites
A basic understanding of accounting and auditing using GAAP, GAAS, and Ethics standards that are important in the accounting industry.
Advance Preparation
None
Instructor
Pat Patterson
Cecil Patterson, (Pat), CPA, MBA, is an award-winning, nationally recognized author, speaker, and discussion leader for continuing education courses and numerous state societies. He has experience at the local and national CPA-firm level and as an adjunct university professor.
Pat holds an MBA from the University of North Florida and is a CPA and owner of the firm of Cecil Patterson, CPA. His firm provides, accounting, tax preparation and tax planning services, wealth management services, and consulting for businesses and other professional firms.
Pat has served on the AICPA Council, the FICPA Council, and the FICPA Educational Foundation Board of Trustees.