*A Live Webcast Replay™ is a web cast replay of an earlier event, with panelists standing by, in real time, to respond to participant questions. The Live replay includes all original content and materials. This format allows for Live CPE credit under our NASBA registry.

This course is sponsored by the Business Learning Institute(BLI) who is listed on the NASBA Registry as sponsor number 108308.

Description:
Auditing Bits in Bytes™ is a series of eight individual sessions that guides professionals through the complete audit process from “A to Z” – starting with Pre-Engagement Planning Activities, and going all the way through Wrap-up and Quality Control.  
The auditing profession is undergoing the most significant changes in modern history.  Think about it.  The Auditing Standards Board issued 14 new Statements on Auditing Standards all effective within two years of each other, the GAO revised Government Auditing Standards (twice!) in 2007, the PCAOB has six additional Auditing Standards related to audits of SEC “issuers” that directly influenced standards established for “non-issuers”, independence rules promulgated by all relevant standard setters have been clarified and enhanced, and Statements on Quality Control Standards for firms performing attestation services have also been revamped and strengthened.  Whew!  That is a lot!  And to think that professionals complained about being confused before all these changes occurred!?!  All professionals, both those that are new to performing financial statement audits and those with previous experience, can benefit from focused training that walks participants through the complete audit process from “A to Z”, providing practical tips and best practices for ensuring an effective and efficient financial statement audit in compliance with relevant professional and regulatory standards

Objectives:
Session 8 of this eight-part series emphasizes the key activities that ensure that appropriate quality control procedures were performed on the financial statement audit

Highlights:
• Reviewing Workpapers – Emphasizing the importance in identifying deficiencies in compliance with professional and regulatory standards
• Statement of Quality Control Standard #7 – An overview of this new standard that clarifies and enhances quality control requirements for CPA Firms performing financial statement audits
• Concurring Partner Review – When this may be necessary, who can perform most effectively perform this review, what he/she should review, and documentation considerations
• Peer Review – Common deficiencies identified as a result of the changing professional and regulatory standards
• Common Quality Control Issues – How CPA Firms can strengthen internal quality control policies and procedures
• Yellow Book & Single Audit Considerations – How these standards differ from requirements of Generally Accepted Auditing Standards

Designed For:
Anyone who is new to auditing or desires a refresher in how to perform effective and efficient financial statement audits for non-issuers in accordance with professional and regulatory standards (Generally Accepted Auditing Standards and Yellow Book)

Prerequisite: None
Course Level: Basic
BLI Curriculum: Business Management
NASBA Field Of Study: Auditing
Instructor: Jennifer Louis, CPA