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Nonattest Services – What Are They and Why Do They Matter

  • Accountant
  • CPA/CFF
  • CFE
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • CFA
  • IAP
  • QIAL
  • CIPM
  • CBA/MCBA
  • FPAC

Published: December, 2020

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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 CPE Credit of Financial Accounting for Certified Internal Auditors (CIA)
  • 1 CPE Credit of Accounting for Internal Audit Practitioner (IAP)
  • 1 CPE Credit of Accounting for Qualification in Internal Audit Leadership (QIAL)
  • 1 General Credit of Accounting for Accountant/Bookkeeper/Tax Professionals
  • 1 CPD Credit of Financial Reporting for Certified Financial Forensics (CFF)
  • 1 CPE Credit of Accounting for Certified Fraud Examiner (CFE)
  • 1 CPE Credit of Accounting for Certified Government Financial Manager (CGFM)
  • 1 CPE Credit of Accounting & Auditing for Certified Management Accountants (CMA)
  • 1 CPE Credit of Financial accounting for Certified Valuation Analyst (CVA)
  • 1 PL Credit of Accounting for Chartered Financial Analyst (CFA)
  • 1 PL Credit of Accounting for Certificate In Investment Performance Measurement (CIPM)
  • 1 CPE Credit of Financial accounting for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 1 CRE Credit of Financial accounting concepts for Certified Corporate FP&A Professional (FPAC)

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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Ratings and Review

4.6

781 Ratings

Excellent

468

Very Good

278

Average

33

Poor

2

Terrible

0

MC

Margaret Christiano, CPA (US)

Nov 11th, 2021

Great seminar for those in public practice that perform attest engagements. Reinforced the non-attest requirements to help with peer review compliance and documenting independence.

TG

Tracy George, CPA (US)

Oct 2nd, 2020

This was great. I really appreciate that the speaker can make the webinar feel like a conversation rather than just a straight presentation of facts off of a slide.

MB

Marlene Baker, CPA (US)

Mar 17th, 2021

The Instructor did a great job conveying a ton of information within the time frame. I have a much better understanding the rules about Non-Attest services.

JD

Joann Dilley, Accountant

Dec 9th, 2021

Excellent infor