Accounting, Auditing, and Financial Reporting

News

Upcoming Events

Tips for working with first-time single audit clients

September 21, 2021

The U.S. has seen historic levels of federal funding in response to the COVID-19 pandemic. Various laws, including the CARES Act and the American Rescue Plan Act of 2021 have provided billions of dollars to American businesses, state and local governments and not-for-profits. While this funding has provided relief, especially for nonprofits, it may cause complications for many recipients.

  • accounting and auditing
  • not-for-profit
  • federal tax

AICPA offers advice for employee benefit auditors

September 14, 2021

The American Institute of CPAs has released a set of questions and answers to help auditors of benefit plan financial statements deal with this complex field and a revised auditing standard.

  • accounting and auditing

The pandemic drives a need for better, deeper forecasting and analysis

September 14, 2021

A recent report from the Institute of Management Accountants discusses how predictive analytics, combined with knowledge of the business and scenario planning, can help organizations make better forecasts.

  • accounting and auditing
  • coronavirus

Lease accounting: Private companies on the clock after delay

September 10, 2021

In early 2020, the COVID-19 pandemic added another element of business disruption for organizations to manage while the effective dates to comply for FASB's new lease accounting standards were quickly approaching.

  • accounting and auditing

How the Pandemic Shaped Financial Reporting

September 03, 2021

Auditors issued fewer warnings that U.S. companies risked going out of business in 2020 despite the lethal threat that the coronavirus pandemic posed to retailers, manufacturers, and hospitality businesses.

  • accounting and auditing
  • coronavirus

Comment Letter on the Proposed Audit Quality Exposure Draft by Lew Kaufman

August 24, 2021

The following letter was submitted by Lew Kaufman, partner at Cohen, Kaufman, and Associates, LLC, CPAs in Milford. We share with Lew's permission. Don't forget - comments are due by August 31!

  • accounting and auditing

Advanced Audits of 401(k) Plans: Best Practices and Current Developments

Nov 15th 9:00am - 4:30pm

Online

8.00 Credits

Annual update of the changes affecting 401(k) plans  Compliance issues associated with eligibility and enrollments, remittances, lack of oversight, compensation, vesting, etc.  Best practices for engagement planning, internal controls, risk assessment, and detailed testing  How to avoid common mistakes made while performing audit procedures  Plan mergers and acquisitions  Common audit reporting and disclosure issues  The new audit standard for employee benefit plans

FASB and AICPA Update (Livestream)

Nov 16th 8:45am - 4:30pm

Online

8.00 Credits

This program focuses on all things the accounting professional should be aware of including:  Accounting standard updates (ASUs)  FASB projects  Audit service issues  ARSC initiatives, preparation, compilation and review updates, and initiatives  AICPA activities and profession update

Compilation and Review Practice Guide (Livestream)

Nov 17th 8:45am - 4:30pm

Online

8.00 Credits

SSARS standards  Compilation performance requirements  Review performance requirements  Documentation for compilations and reviews  Special purpose frameworks financial statements  Legal liability concerns and issues  How to perform and document analytical procedures appropriately, including developing expectations  Independence and the AICPA Code of Professional Conduct  Non-attest services  Common issues raised in peer reviews

Advanced Auditing of HUD-Assisted Projects

Nov 18th 8:45am - 4:30pm

Online

8.00 Credits

HUD audit environment  Audit standards for audits of HUD-assisted projects  Fieldwork standards for audits of the HUD-assisted projects  Audits of HUD-regulated lenders  Reporting standards for audits of HUD-assisted projects  Annual financial statement requirements  Mortgagees

Latest Developments in Nonprofit Accounting and Auditing

Dec 1st 9:00am - 4:30pm

Online

8.00 Credits

Implementing the new Yellow Book Developing issues related to performing single audits under the OMB's Uniform Guidance for Federal Awards Key AICPA developments affecting audits of nonprofits including SAS No. 134, Auditor Reporting and Amendments, Including Amendments Addressing Disclosures in the Auditor Reporting Statements, and SAS 135, Omnibus Statement on Auditing Standards--2019 Prepare for the implementation of the new FASB ASU on grants, contracts, and contributions (i.e., ASU No. 2018-08, Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made) Develop a deeper understanding of the effects that ASU No. 2016-02, Leases, will have on nonprofits

Risk Assessment During the Recovery

Available Until Apr 30th, 2023

Online

4.00 Credits

Misconceptions leading to noncompliance with AU-C sections 315 and 330 Understanding the entity and its environment, including internal control Assessing the risks of material misstatement Performing audit procedures in response to assessed risks New risks to consider as a result of the COVID-19 pandemic