Nonattest Services – What Are They and Why Do They Matter

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Course Description
Course Qualification
Presenter
FAQ

Course Description

Overview

Learn About Attest Service

11 mins
Hosting Services

18 mins
Learning About SEC

25 mins
Safeguards

31 mins
Documentation

52 mins

Course Description

Independence is a critical concern for CPAs and is the very foundation of attest services. Independence is a state of mind that permits CPAs to perform without being affected by influences that compromise professional judgment, allowing them to act with integrity and exercise objectivity and professional skepticism. The trust the public places in CPAs makes it important for them to avoid circumstances that could create a conclusion that their objectivity or professional skepticism has been compromised in the work they perform.

When a member provides non-attest services for an attest client, threats to independence may exist. Whether the services can be provided depends on the nature of the services and whether the client is willing and able to meet certain responsibilities. In many cases, safeguards may be put in place so that threats are at an acceptable level and independence would not be impaired.

The interpretations of the “Non-attest Services” subtopic of the “Independence Rule” provide guidance on when non-attest services could or would impair independence. This non-authoritative tool is designed to assist members in understanding the independence requirements related to providing non-attest services and with evaluating threats to independence when providing these services. However, the aggregate effect of performing multiple services of this type may require a more rigorous application of safeguards. Still, the effects of others always impair independence, such as the performance of appraisal, valuation, or actuarial services that entail a significant degree of subjectivity where the results of the service, individually or when combined with other such services, are material to the attest client's financial statements.

The CPA cannot assume management's responsibilities and must be satisfied that the attest client and its management will meet their responsibilities in this area.

Before performing non-attest services, the member is required to establish and document in writing his or her understanding with the client regarding:

The objectives of the engagement
The services to be performed
The attest client's acceptance of its responsibilities
The member's responsibilities
Any limitations of the engagement

Learning Objectives

To recall what a nonattest service is
To identify the impact of nonattest services on independence
To recognize ways of communicating and documenting managements responsibilities and acceptance thereof
To identify the threats and safeguards relating to performing both attest and non-attest services for clients

Who Should Attend?

Accountant
Accounting Firm
Accounting Managers
Accounting Practice Owners
Accounts Director
Chief Accounting Officer
Cloud Accountants
CPA (Industry)
CPA - Mid Size Firm
CPA - Small Firm
CPA in Business
Entrepreneurial Accountant
Staff of Accounting Firm
Young CPA

Course Qualification

Webinar Qualifies For

1 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
1 CPD Credit for Chartered Professional Accountant (CPA Canada)
1 CPE Credit for Certified Internal Auditors (CIA)
1 CPE Credit for Internal Audit Practitioner (IAP)
1 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
1 CE Credit for Certified Wealth Strategist (CWS)
1 General Credit for Accountant/Bookeeper
1 CPD Credit for Chartered Accountants - Ireland (CAI)
1 CPD Credit for CPA - Ireland
1 CPD Credit for Chartered Accountants - Scotland
1 CPD Credit for CA - ICAEW
1 CPD Credit for Chartered Certified Accountants (ACCA)

Additional details

Course Level :

Basic
Credits :

1
Instructional Method :

QAS Self Study
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 through its website: www.NASBARegistry.org.

Presenter

About Presenter

Brad Muniz

Partner, SobelCo

Brad E. Muniz, CPA, Partner in Charge of Accounting and Auditing at Sobel & Company LLC, CPAs, Livingston, services businesses and individuals in the areas of accounting, auditing, tax and business consulting. Brad has over 30 years of experience in the areas of financial reporting, tax compliance and planning for closely held businesses, SEC registrants, non-profit organizations, individuals, and strategic business planning. Brad has significant experience in a variety of industries, including broker/dealers, real estate, technology/life sciences, retail, manufacturing, not-for-profit and SEC reporting.

A member of the New Jersey Society of CPAs since 1991. He has served on the NJSCPA Board of Trustees as president, secretary, treasurer and trustee. He served on the Finance, Committee Operations, Chapter Operations, NJ-CPA-PAC and Retirement Savings Plan committees; and Education Foundation Board of Trustees. He has served as a member of the Scholars Institute Advisory Board; Strategic Planning and Volunteer Relations committees; Accounting & Auditing Standards Interest Group; and as a Scholarship Fund Board of Trustee. In the Morris/Sussex Chapter, he has served as president, vice president, treasurer and director. He currently serves as Chair of the NJCPA Education Foundation and a member of the Professional Conduct Committee.

He is a member of the Allinial Global and has served on its CPE Committee and as vice chair of the Accounting & Auditing Committee.

In his community, Muniz is a board member for Stickley Museum at Craftsman Farms and served as treasurer for Family Intervention Services, and has served as a board member of for numerous other not for profit organizations, and member of the Knoll Golf Advisory Committee.

Muniz earned his B.A. in accounting from William Paterson University, where he currently serves on the College of Business Advisory and Advancement Board. He and his wife, Diane, reside in Parsippany.

About Company

SobelCo

sobelcollc.com

SobelCo is a certified public accounting & consulting firm that has specialized in serving middle market family-owned businesses in the NY/NJ area since 1956.

We're proud of our mission and proud to be leaders in the community. We help our clients succeed by fostering an environment that encourages our staff's personal and professional growth, combined with a passion for the firm’s core values.

To accomplish this, we deliver a range of services including accounting, tax, & business consulting across various industries such as retail, manufacturing, distribution, construction, professional services and nonprofits. In addition, we offer internal controls, corporate integrity consulting, fraud and forensic services and strategic planning.

Our clients appreciate our technical expertise, our business acumen and our industry knowledge - but more than anything they appreciate our hands-on, partner level approach. We want our clients to know they are well-cared for and we work hard to maintain consistent communication with them, meeting with them informally and formally - arranging scheduled meetings and well as the occasional casual breakfast to discuss an emerging business challenge.

Our firm embraces core values that guide our actions and define our commitment. These core values reflect the way we treat each other, our clients and our community. As a result we have a culture that nurtures staff, provides excellent client service and gives back to our community.

Faq

FAQs content

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