CPE: 2 hours
Category: Accounting & Auditing
Advanced prep: None
Who should attend: Accountants in public practice.
Get a strong understanding of the differences between your role and your client's responsibilities for their financial statements. A&A professionals will receive a refresher on recent pronouncements with a focus on risks highlighted by the economic climate. This presentation will focus on risk management issues regarding A&A professional standards and will offer practical loss prevention tips.
- Identify the CPA’s responsibilities, and their clients’ responsibilities regarding financial statements.
- Recall recent A&A pronouncements and standards.
- Determine the heightened risks posed by the economic climate.
- Identify practical loss prevention techniques to help A&A professionals reduce risk.
- CAMICO claim statistics
- Juries’ “rules” and expectations of CPAs
- The CPA’s role vs. management’s responsibilities
- What CPAs should and should not document
- Recent A&A pronouncements and standards