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Audit Quality Control – Avoiding Peer Review Deficiencies

  • Accountant
  • CRMA
  • CPA/CFF
  • CFE
  • CGAP
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • IAP
  • QIAL
  • CBA/MCBA
  • CFIRS
  • CWS

Published: August, 2022

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Peer review - System reviews
    3 mins
  • PCAOB inspections
    12 mins
  • Center for Audit quality and PCAOB inspections - common areas of concern
    38 mins
  • Testing issuer-prepared data and reports
    51 mins
  • Elements to review per professional standards
    65 mins
  • Engagement documentation
    82 mins

Course Description

With the AICPA's heightened focus on enhancing audit quality, increased oversight of the peer review process, and the auditor's overall responsibility to provide high-quality services, the focus on compliance with professional standards has never been greater.

Upper-level reviewers have significant responsibilities for ensuring high-quality audit engagements. Unfortunately, deficient audits have serious negative consequences for both the CPA firm and the profession as a whole. 

Major topics covered in this CPE Auditing webinar are:

  • Common peer review deficiencies that quality control reviewers should be alert to
  • Important considerations for second-level and other upper-level reviewers
  • Statement of Quality Control Standards requirements specific to financial statement audits, and other regulatory oversight considerations
  • Lessons learned from various regulatory oversight reviews

This online CPE course will highlight the most important considerations for those at all levels of the engagement team with quality control responsibilities on audit engagements. 

Here is the link to your interests: Accounting & Auditing CPE Courses | CPE Courses for Certified Internal Auditors

Learning Objectives

  • To discuss common peer review and quality control deficiencies on financial statement audits.
  • To identify important quality control standards most directly relevant to audits.
  • To explain the importance of upper-level work paper reviews, including an objective engagement quality control review.
  • To analyze employee benefit plans, SOC documentation, and testing its eligibility.
  • To discuss the common preparation and review concerns.
  • To evaluate the risk of management of internal controls.
  • To identify factors that need to be considered while evaluating accounting estimates including fair value measurements.

Recommended For

  • This Online CE/CPE Webinar is recommended for CPA, CIA, IAP, QIAL, CMA, CFF, CFE, CVA, CGFM, CBA/ MCBA, CRMA, CGAP, CFIRS, CWS, Internal Auditors, External Auditors, Accountants, CFOs with advanced work paper review or audit quality control responsibilities.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Auditors
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Forensic Auditor
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 2.5 General Credit of Auditing for Accountant/Bookkeeper/Tax Professionals
  • 2.5 CPE Credit of Auditing for Certification in Risk Management Assurance (CRMA)
  • 2.5 CPD Credit of Auditing for Certified Financial Forensics (CFF)
  • 2.5 CPE Credit of Auditing for Certified Fraud Examiner (CFE)
  • 2.5 CPE Credit of Auditing for Certified Government Auditing Professional (CGAP)
  • 2.5 CPE Credit of Auditing for Certified Government Financial Manager (CGFM)
  • 2.5 CPE Credit of Internal Auditing for Certified Internal Auditors (CIA)
  • 2.5 CPE Credit of Auditing for Certified Management Accountants (CMA)
  • 2.5 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
  • 2.5 CPE Credit of Auditing for Certified Valuation Analyst (CVA)
  • 2.5 CPE Credit of Auditing for Internal Audit Practitioner (IAP)
  • 2.5 CPE Credit of Auditing for Qualification in Internal Audit Leadership (QIAL)
  • 2.5 CPE Credit of Auditing for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 2.5 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 2.5 CE Credit for Certified Wealth Strategist (CWS)

Additional details

  • Course Level :
    Basic
  • Credits :
    2.5
  • 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

Jennifer Louis, CPA (US)

President, Emergent Solutions Group LLC

Jennifer F. Louis, CPA has over 25 years of experience in designing and instructing high-quality training programs in a wide variety of technical and “soft skills” topics needed for professional and organization success. In 2003, she founded Emergent Solutions Group, LLC, where she focuses her energy on designing and delivering high-quality, practical, and engaging accounting and auditing training. She was most recently Director of Audit Product Development at Surgent Professional Education, and prior to that served as Executive Vice President/Director of Training Services at AuditWatch, Inc., a highly-respected training and audit process consulting firm. Before joining AuditWatch, Jennifer was the Financial/Operational Audit Manager at AARP. At the start of her professional career, Jennifer was an Audit Manager for Deloitte & Touche LLP, where she frequently served as a local and national instructor. Jennifer graduated summa cum laude from Marymount University with a BBA-Accounting. Besides loving life on the lake with her husband in Charlotte, NC, she enjoys hiking with her little dog Frodo Beggins, and savoring any precious moments spent with her two young adult boys.

About Company

Emergent Solutions Group LLC

www.emergentgroup.net

Emergent Solutions Group is highly rated in course design and instruction on a wide array of topics, including accounting, auditing, personal development, project management, practice management, and more. Our Services includes : 

1. Developing High-Caliber, Cost-Effective Training Content

2. Revamping or Customizing Existing Training Offerings

3. "On-Call” Instructing and Speaking

4. Training the Trainer

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
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  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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Ratings and Review

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