Compliance Audits under AICPA Professional Standards (Currently Unavailable)

Author: Salvatore Collemi

This on-demand course discusses the applicability and objectives of auditors performing Compliance Audits under AICPA Professional Standards (AU-C 935) as well as management’s responsibilities. It provides a high-level overview of the key definitions and requirements under the Standards.

Publication Date: July 2019

Designed For
Professionals in public practice who are required by law or regulation, to perform a compliance audit.

Topics Covered

• What is a Compliance Audit?
• Introduction to AU”C 935
• Management's Responsibilities
• Terminology
• Requirements
• Documentation Requirements
• Reporting
• Resources
• Closing Remarks

Learning Objectives

• Identify key terminology used in Compliance Audits (AU-C 935)
• Differentiate when AU-C 935 is applicable to an engagement
• Describe management's responsibilities in a compliance audit and distinguish them from the auditor's responsibilities
• Describe the key professional requirements of AU-C 935
• Recognize correct statements with respect to compliance audits
• Identify purpose for establishing a materiality level in a compliance audit
• Identify a situation in which there may be a risk of material noncompliance that is pervasive to the entity's noncompliance
• Recognize what should be included in a report on compliance only
• Differentiate AU-C Sections and how they apply
• Identify a type of engagement within the scope AU-C Section 935
• Describe Statements on Standards for Attestation Engagements (SSAEs)
• Recognize which AT-C Section is applicable to performing and reporting on an examination of internal control over compliance if the entity is required to undergo a compliance audit and an examination of internal control over compliance
• Identify when an auditor should establish and apply materiality levels for the compliance audit
• Identify a responsibility or requirement of management that should be included in their respective representations
• Describe correct statements with respect to an auditor's consideration of subsequent events

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Auditing (2 hours)

Program Prerequisites
None

Advance Preparation
None