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myCPE

Firm Quality Control Standards 2 Credits

Sep 08, 2023, 03:00 PM ET

Firm Quality Control Standards 2 Credits

  • Rating

    4.5
  • Reviewed on

    February, 2024
  • Subject Area

    Auditing

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  • Access the course at your convenience
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Sep 08, 2023, 03:00 PM ET

Learning Objective

  • To become acquainted with the latest information about Firm Quality Standards.
  • To explain the overall guidance for Firm Quality Standards.
  • To apply presentation rules and exceptions.
  • To review the recognition, measurement, and presentation constraints.
  • To look at disclosure and presentation requirements.
  • To write the appropriate Notes.
  • To review the requirements for Firm Quality Standards.
  • To explain the firm’s responsibility for the system of quality control.
  • To examine the roles of responsibilities of all the players.
  • To know the available options when things do not go well.
  • To discuss how and when to communicate engagement issues.
  • To review documentation requirements.

Course Overview

A system of quality control is broadly defined as a process to provide the firm with reasonable assurance that its personnel comply with applicable professional standards and the firm's standards of quality.

This CPE course describes the standard for a CPA firm's responsibilities for its system of quality control for its accounting and auditing practice. Because a system of quality control consists of policies designed to achieve the objective of compliance with applicable standards and producing the required reports, we will walk through the AICPA’s recommendations and requirements so that you understand your responsibilities and duties when performing a client engagement. 

Major Topics Covered: 

  • Basic concepts, scope, and applicability of Firm Quality Standards.
  • Planning the approach: Firm Quality Standards.
  • Sizing up the impacts of Firm Quality Standards: questions you need to ask.
  • Specific rules and unique provisions for Firm Quality Standards.
  • Disclosure and presentation requirements.
  • Notes to financial statements.
  • Definitions of key terms.
  • Roles and responsibilities of the firm, the engagement partner, and the engagement team members.
  • Elements of an engagement.
  • Ethical, technical, and people considerations.
  • Policies and procedures of the system of quality control.
  • Difficulties, breaches, and conflicts of interest.
  • Other significant considerations

Join this CPE Auditing webinar outlines an easy-to-understand step-by-step procedure for Firm Quality Standards. 

Explore your career with MY-CPE online CPE courses for CIA professionals. Earn valuable CIA CPE credits while expanding your skills and knowledge from anywhere, anytime. Our courses cover a wide range of topics relevant to your field, ensuring you stay up-to-date with the latest developments. With flexible scheduling and expert-led content, MY-CPE provides a convenient and effective learning experience tailored to your needs. Join us today and take advantage of our comprehensive resources to propel your career forward. Let MY-CPE be your trusted partner in achieving your professional goals.

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Additional Information

Credits

2

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

Pre-requisites

None

Advance Preparation

None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.

About Instructor

Elevate Your Career with Michel Morley's CPE Courses at myCPE
Michel Morley

Founder, Mike Morley

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Mike Morley is a Certified Public Accountant and a recognized authority in the field of finance with more than 25 years experience in finance, including SOX and IFRS implementation.

An entertaining and informative speaker and trainer, Mike is the author of:

“IFRS Simplified” which provides a jump start for accountants and finance executives who want to quickly and easily get up to date on IFRS.

“Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.

“Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Reviews and Ratings

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TT

Tyler Thompson, CPA (US)

Good basic information about QC standards. Recommended.

MJ

Marshae Jackson, CPA (US)

Great information

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