2020 GAAP, GAAS, & SSARS Update
Author: Pat Patterson
||2 hours for CPAs
Do you need a review of the most difficult and frequently found accounting, auditing, review, compilation, and preparation issues in the CPA profession? This program reviews new FASB pronouncements that impact Audit issues and SSARS requirements for 2018. Engagement letters, changes to reporting formats, disclosure requirements, and engagement administration matters are presented. Issues include revenue recognition, financial instruments, and leases. This session also discusses what is authoritative GAAP for entities and where does one find it. A review of the AICPA’s Code of Professional Conduct with its changes for those in public accounting, in business, and others is presented for changes and updates for the profession. New standards for preparation, compilation, review, and audit engagements are examined for current and future application. Recently issued ASUs, SASs, SSARS 22 and SSARS 23 will be reeviewed for their impact.
Publication Date: May 2020
CPAs that need to be current on professional standards in their employment, for their clients and client applications, and to meet the continuing professional education requirements of their state laws and rules.
- Selected FASB Accounting Standards Updates (ASUs) for 2019
- SB Accounting Standards Updates (ASUs) From 2020
- AICPA Auditing Standards Update: 2020
- What Happened?
- Materiality Definitions
- The Changes for Auditors
- The Changes to Attestation
- The Changes to SSARS
- FASB Horizon 2020 and Beyond
- Any other matters deemed appropriate and timely
- Recognize current and newly issued GAAP, GAAS, and SSARS pronouncements that impact engagements regarding reporting formats, engagement letters, and disclosure issues currently needed
- Identify updates on Auditing Standards from the AICPA
- Identify updates on SSARS from the ARSC
- Identify other related issues and the future FAS
NASBA Field of Study
Accounting (1 hour), Auditing (1 hour)
A basic understanding of principles of GAAP, GAAS, and SSARS.