Published: September, 2021
When a CPA is associated with the unaudited financial statements of a client, regardless of the level of service provided, there is always a risk that the CPA will be held liable for losses associated with misstatements. This is even true when the service provided is an attest and assurance engagement, such as a review, when it is a non attest engagement and non assurance engagement, such as a preparation engagement performed in accordance with AR-C Section 70 of SSARS; or a bookkeeping engagement that is subject to the ethical standards of the profession, but for which there are no authoritative standards, such as a bookkeeping engagement resulting in the preparation of financial reports.
The source of that liability may be from:
Keeping in mind that our standards do not apply to individuals outside the profession, a judge, juror, arbiter, or other decision-makers in such an action, is usually only going to be familiar with standards that are brought up in trial and they may not understand them. That same decision-maker may believe that we should do more than that which is required by standards and may not agree with our assessment of the level of responsibility taken.
Today’s practitioners are also faced with Peer Review, requiring them to be certain to be able to demonstrate that they have complied with all requirements of standards and that all reports issued are appropriate for the circumstances to which they apply. Most firms rely on checklists to assure that they comply. These checklists, however, add an administrative burden and a significant cost to engagements.
This online CPE webinar for CPAs will provide an update, covering changes in standards relevant to unaudited financial statement engagements, including the Code of Professional Conduct, the Quality Control Standards, and Statements on Standards for Accounting and Review Services. It will provide approaches that will reduce the reliance on checklists without sacrificing compliance and improve the efficiency of many engagements. It will also suggest alternatives for structuring engagements, preparing documentation, and defining your relationship with your clients.
Key topics covered in the CPA webinar:
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.
Owner, Mark Dauberman
Mark provides CPE and technical staff training for CPA firms, private industry, state CPA societies, and government organizations. His topics include accounting, SSARS, ethics, fraud, internal and external auditing, internal control development (COSO), entrepreneurship, and developing a business plan. Mark is in the process of initiating a new entity, The Internal Control Institute, which will be offering CPE and staff training related to internal controls, and in conjunction with professors from Claremont Graduate University, will be providing internal control consulting.
Mark is also an expert witness in the defense of CPAs in cases involving primarily ethics, fraud, and compliance with standards in the performance of professional services.
Mark also provides consulting services to CPA firms with an A & A practice that do not have an expert on GAAP or requirements of Professional Standards within the firm. He addresses such matters as conformity with GAAP, adequacy of disclosures, compliance with professional standards, risk assessment, development and performance of audit and review processes, engagement documentation, compilation and preparation engagements, ethics and independence requirements, assessing and enhancing internal controls for the firm and clients, preparation for peer review, and staff training and CPE. He also provides consulting services related to client management and marketing.
Mark’s public accounting experience includes working with Kenneth Leventhal & Company and more recently, he was a partner at NSBN, a Beverly Hills CPA and business consulting firm. Mark’s industry experience includes serving as assistant controller of a large trucking and warehousing firm along with controller and Vice President of Finance and Administration for major real estate development companies. Mark also spent nearly 30 years as an entrepreneur, operating a company that prepared individuals for the CPA exam nationwide.
Mark has been involved in accounting education at CSU Northridge, CSU San Bernardino, Loyola Marymount University and UCLA. He obtained his bachelor’s degree in accounting from CSU Northridge. He obtained his Executive MBA at the Peter Drucker and Masatoshi Ito School of Management at Claremont Graduate University, where he previously had been a student of Dr. Drucker’s. He also obtained an Internal Control Certificate from COSO. Until recently, he authored “Knowledge Based Preparation, Compilation, and Review Engagements” for CCH and updated their checklists for SSARS engagements. He also served as Senior Editor for Roger CPA Review.
Mark Currently provides CPE and technical staff training for CPA firms, private industry employers of accountants, and government organizations on topics that include accounting, compilation and review, fraud, internal and external auditing, developing internal controls, strategic planning, and practice management. He is also the Senior Editor for Roger CPA Review Course and authors CCH’s “Knowledge-Based Compilations and Reviews”.
Mark’s public accounting experience includes working with various local firms throughout high school and college, and employment with Kenneth Leventhal & Company. More recently, he was a partner at NSBN, a Beverly Hills CPA and business consulting firm, where he served as director of the audit practice and was responsible for recruiting, training, business development, quality control, and strategic planning for the firm. Mark’s industry experience includes serving as assistant controller of a large trucking and warehousing firm. He has been both a controller and the Vice President of Finance and Administration for major real estate development companies. Mark also spent nearly 30 years as an entrepreneur, operating a business that prepared individuals for the CPA exam.
Mark taught his first university accounting class in 1969 and has been involved in accounting education since, most recently a visiting lecturer at California State University at San Bernardino.
Mark obtained his bachelor’s degree in accounting from California State University at Northridge. He obtained his Executive MBA at the Peter Drucker and Masatoshi Ito School of Management at Claremont Graduate University, where he previously had been a student of Dr. Drucker’s.
Dec 23rd, 2021
Instructor was easy to follow and information provided was clear and concise.