Current Issues in Accounting and Auditing: An Annual Update

Overview

Designed for accounting and attestation practitioners at all levels in both public accounting and business and industry, this course provides a detailed review of the multitude of FASB and AICPA standards issued over the past few years. The course also provides many hands-on examples and illustrations to help apply the guidance in practice and discusses other important A&A practice matters to be aware of, including an update on peer review and audit quality.

Highlights

Recently issued but newly implemented Accounting Standards Updates (ASUs), the PCC Update, and items on the FASB’s Technical Agenda
New ASUs covering common control leases, crypto assets (e.g., cryptocurrency), and income tax disclosures
Leases – Topic 842
Recently issued SASs and other AICPA activity through SAS No. 149
Detailed review of SAS No. 145
Other important A&A practice matters

Prerequisites

Experience in accounting and attestation

Designed For

Accounting and attestation practitioners at all levels desiring to remain up to date on recent pronouncements and other standard setters’ activities

Objectives

Recall and apply recently issued and proposed FASB and AICPA pronouncements
Recall and apply guidance from ASC Topic 842, Leases
Understand the main provisions of SASs No. 145 to No. 149
Identify other important A&A practice matters to be aware of
Utilize hands-on examples and illustrations to demonstrate an overall understanding and application of the material

Fees

Credits

Level

Code

Vendor

Fields of Study

Leader(s):

Daryl Krause

Leader Bios

Daryl Krause

Mr. Krause has CPA Certifications and he practices in: Illinois, Indiana, Kentucky, Michigan, Ohio and Wisconsin as Manager & CEO of his firm, which he founded in 2005. Previously he enjoyed 23 years of diversified responsibilities with Ernst & Young. Industries he served included manufacturing, construction, real estate and financial services. Daryl was the Ohio Valley Area Director of Employee Benefit Plan Services specialty audit practice for 8 years responsible for the technical accuracy and quality of over 300,000 hours of employee benefit plan audit effort. Roles included sign-off partner for approximately one third of the entire area’s engagements, independent reviewer on approximately 100 additional plans per year and technical advisor for all work. As Senior Manager in the Entrepreneurial Services group for 3 years he managed a portfolio of corporate audit client relationships. Roles included providing SEC reporting assistance to new public companies, assisting in due diligence on potential acquisitions and helping companies improve their controls and financial reporting processes. He served in E&Y’s National Professional Development group as a Senior Manager for 5 years. Roles included designing, developing and delivering core curriculum Audit and Entrepreneurial Services training programs for the entire U.S. practice. Part of the 11 member team that completed the development effort to introduce the Ernst & Young Audit Approach training for Staff through Partner following the Ernst & Whinney and Arthur Young merger, which was deemed a critical success factor for the newly formed Ernst & Young.

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