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Self-Study Courses

Top Accounting and Auditing Issues for 2023 CPE Course: Module 2 (Currently Unavailable)

6 CPE Credits $24.00/credit hour
4.8 (226 ratings)
This six CPE hour course reviews top auditing issues: going concern: auditing and internal control issues, crypto basics and audit considerations, fraud risks when conducting remote audits, and environmental, social, and governance. This course reviews internal control and internal control systems from the auditor’s point of view. It provides updates on internal controls and American Institute of Certified Public Accountants (AICPA) auditing standards, as well as internal control and audit reports. It also covers the new quality management standards approved by the AICPA Accounting Standards Board (ASB), discusses internal control and COVID-19 issues, along with other related matters. This course also presents a basic overview of auditing crypto assets and liabilities. It discusses cryptocurrencies and tokens and how these assets and liabilities should be recorded on the books. The course presents a basic overview of the fraud risks auditors may encounter when conducting remote audits. It discusses the risks and provides auditing procedures that can help to mitigate the risks. Finally, this course gives an overview of environmental, social, and governance (ESG) reporting requirements and standards and ESG’s impact on generally accepted auditing standards (GAAS) and attestation.
This course is excluded from the following subscription programs: Value Pass, Self-Study Package, Webinar Package, Self-Study & Webinar Package, and Firm Package.

Publication Date: August 2022

Topics Covered

  • AICPA Auditing Standards Update
  • Risk Assessment Procedures and Related Activities
  • The Entity's Internal Control
  • Risks that Require Special Audit Consideration
  • The Entity and It's Environment
  • General Nature and Characteristics of Internal Control
  • AU-C Section 700: Forming an Opinion and Reporting on Financial Statements
  • Auditor's Report
  • Auditor's Report Illustrations
  • New Statements on Auditing Standards
  • COVID-19: Going Concern, Emphasis of Matter, and Scope Limitations
  • New Standards Approved by the AICPA
  • Blockchain Terminology
  • Cash versus Accrual
  • Generally Accepted Auditing Standards
  • Financial Statement Assertions
  • Audit Planning
  • Audit Guidance
  • Crypto Asset Disclosures
  • Internal Controls
  • Substantive Testing
  • Auditing Cryptocurrencies
  • Risk Assessment
  • Fraud Review
  • Distribution of Data
  • Sampling
  • Audit Risk Model
  • Data Analytics
  • Fraud Theories
  • Predication of Fraud
  • Occupational Frauds
  • Specific Fraud Risks
  • Data Risks
  • Environmental Issues
  • Audit Impacts
  • Attestation Impacts
  • Reporting on Attestation Agreements
  • Examination Report Examples

Learning Objectives

  • Identify updates on internal controls and AICPA auditing standards
  • Identify updates on internal control and audit reports
  • Recognize internal control and COVID"19 issues
  • Differentiate effective dates of Statements on Auditing Standards (SAS)
  • Recognize the auditor's requirement relevant to understanding an entity's control activities
  • Identify true statements regarding risk assessment procedures and internal controls
  • Differentiate in what section of the auditor's report the auditor's opinion is under AU-C 700
  • Describe the key audit matters paragraph in the auditor's report
  • Recognize the changes included in SAS No. 142
  • Identify financial reporting considerations related to subsequent events
  • Identify the steps in an audit of crypto assets and liabilities
  • Recognize audit procedures for auditing crypto assets and liabilities
  • Define fraud and several fraud theories
  • Recognize fraud risks that can arise when planning and conducting remote audits
  • Identify audit procedures that can help to mitigate fraud risks
  • Describe the basics of ESG for management and auditors in ESG engagements, including ESG requirements and standards
  • Identify issues for present and future situations and engagements with ESG positions
  • Recognize the impacts ESG has on generally accepted auditing standards (GAAS) and attestation
  • Identify what an auditor needs to know about management's policies and procedures that are unique to climate-related matters
  • Differentiate relevant AU-C sections and how they apply
  • Describe examples of climate-related matters that could raise substantial doubt about an entity's ability to continue as a going concern
  • Describe the requirements proposed by the Securities and Exchange Commission (SEC) for public companies

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Auditing (6 hours)

Program Prerequisites
None

Advance Preparation
None

Instructors

Robert K Minniti

DBA, CPA, CFE, Cr.FA, CVA, MAFF, CFF, CGMA, PI

Dr. Minniti is the President and Owner of Minniti CPA, LLC. Dr. Minniti is a Certified Public Accountant, Certified Forensic Accountant, Certified Fraud Examiner, Certified Valuation Analyst, Certified in Financial Forensics, Master Analyst in Financial Forensics, Chartered Global Management Accountant, and is a licensed private investigator in the state of Arizona.

Dr. Minniti received his doctoral degree in business administration from Walden University, received his MBA degree and Graduate Certificate in Accounting from DeVry University’s Keller Graduate School of Management, and received his Bachelor of Science in Business Administration degree from the University of Phoenix. Dr. Minniti taught graduate and undergraduate courses in forensic accounting at DeVry University, Grand Canyon University, Kaplan University, Northwestern University, and the University of Phoenix. He designed graduate and undergraduate courses for Grand Canyon University, Northwestern University, and Anthem College.

He is a writer and public speaker. He has experience in forensic accounting, fraud examinations, financial audits, internal audits, compliance audits, real estate valuations, business valuations, internal control development, business continuation planning, risk management, cyber security, privacy laws, data security, Sarbanes-Oxley compliance work and business consulting. In addition to his practice Dr. Minniti is an instructor teaching continuing professional education classes for a variety of providers and CPA Societies.

Dr. Minniti is currently serving as a board member on the National Association of Certified Valuators and Analysts' (NACVA) Litigation Forensics Board (LFB) and as a committee member on the Arizona State Board of Accountancy's Law Review Advisory Committee.

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.
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