Firm Quality Control Standards

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Course Description
Course Qualification
Presenter
FAQ

Course Description

Overview

To whom does it apply to?

6 mins
Engagement documentation

15 mins
Applying and complying with relevant requirements

27 mins
Breaches of independence

40 mins
Engagement quality control review

55 mins
Complaints and allegations

70 mins
Understanding organization's IT systems

84 mins

Course Description

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. The key idea is that a firm form a system of quality control intended for providing reasonable assurance that a firm and its employees adhere to the professional standards and legal and regulatory requirements and also that reports which are issued by such firm or its engagement partners are apt in the circumstances.

With the emphasized idea of promoting the internal culture which is based on the recognition that the quality is essential and paramount in executing any engagement.

In this 2 CPE live webinar, we will address relevance to ethical standards, client and engagement acceptance and continuance procedures, human resources policies and procedures, engagement performance and monitoring activities, and best practices in designing and implementing effective quality control standards that address the responsibility of firm leadership.

We walk through the AICPA’s recommendations and requirements so that you understand your responsibilities and duties when performing a client engagement. This session will also emphasize on CPA firm's responsibilities for its system of quality control for its accounting and auditing practice.

Major topics covered in this webinar include:

Unconditional requirements
Presumptively mandatory requirements
Definitions of key terms
Roles and responsibilities of the firm, the engagement partner, and the engagement team members
Elements of an engagement
Ethical, technical, people considerations
Policies and procedures of the system of quality control
Difficulties, breaches, and conflicts of interest
Other significant considerations

Learning Objectives

Understand the firm’s responsibility for the system of quality control
To examine roles of responsibilities of all the players
To define the available options when things do not go well
To learn how and when to communicate engagement issues
To review documentation requirements
To learn the policy and procedure of the system of quality control

Recommended For

This online CPE course is recommended for CPAs, CMAs, CRMA, IAP, QIAL, CIA, and Other Accounting Practitioners who are involved in public practice and are indulged in providing accounting, auditing and attestation services.
This online CPE webinar on auditing is recommended for CPAs in Canada who want to support their clients with better firm quality control standards.

Who Should Attend?

Accounting and audit managers/practitioners
Certified Management Accountant (CMA)
Certified Public Accountant (CPA)
CPA (Industry)
CPA - Mid Size Firm
CPA - Small Firm
Entrepreneurial CPA
Young CPA

Course Qualification

Webinar Qualifies For

2 CPE Credit for Internal Audit Practitioner (IAP)
2 CPD Credit of Audit and Assurance for Chartered Professional Accountant (CPA Canada)
2 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
2 CPE Credit of Auditing for Certified Management Accountants (CMA)
2 CPE Credit of Internal Auditing for Certified Internal Auditors (CIA)
2 CPE Credit for Certification in Risk Management Assurance (CRMA)
2 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
2 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
2 CE Credit for Certified Wealth Strategist (CWS)
2 General Credit for Accountant/Bookeeper
2 CPD Credit for CA - ICAEW
2 CPD Credit for Chartered Certified Accountants (ACCA)
2 CPD Credit for Chartered Accountants - Ireland (CAI)
2 CPD Credit for Chartered Accountants - Scotland
2 CPD Credit for CPA - Ireland
2 CPD Credit of Auditing for Certified Financial Forensics (CFF)
2 CPE Credit of Auditing for Certified Fraud Examiner (CFE)
2 CPE Credit of Auditing for Certified Valuation Analyst (CVA)
2 CPE Credit of Auditing for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
2 CPE Credit for Certified Government Auditing Professional (CGAP)
2 CPE Credit for Certified Government Financial Manager (CGFM)

Additional details

Course Level :

Basic
Credits :

2
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

Michel Morley

Founder, Mike Morley

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.

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.
You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
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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