CPE PACKAGES (Incl. Ethics) for Multiple States and Qualifications @ $4/credit. CLICK HERE to view.

What Auditors And Audit Committees Need To Know About SPACS

You need to register for the webinar to watch the video.

Click Here to Register

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

Overview

  • What is a Special Purpose Acquisition Company (SPAC)?
    4 mins
  • Issues with (SPAC)?
    16 mins
  • Advantages of a SPAC
    30 mins
  • SPAC merges with its target company
    44 mins
  • Are SPACs safe to invest in?
    63 mins
  • Direct listings
    82 mins

Course Description

A huge surge this year in the number of special-purpose acquisition companies (SPACs) has led to interest from investors and scrutiny on the part of the SEC.

New guidance from the Centre for Audit Quality (CAQ), which is affiliated with the AICPA, provides ideas for auditors and audit committees to consider related to SPACs and the initial public offerings and mergers that are related to them.

But bringing a private company into the public markets through a SPAC poses unique risks and challenges, and the surge in interest has attracted the SEC’s attention. In March, the SEC warned that investors shouldn’t make investing decisions based on a celebrity’s involvement with a SPAC.

The merger of a SPAC and a target company often raises complex financial reporting and governance issues. Stakeholders, including audit committees need to consider the risks, complexities, and challenges related to SPAC mergers, including careful consideration of whether the target company has a clear, comprehensive plan to be prepared to be a public company.

This online CPE webinar covers the following key topics:

  • The CAQ’s guidance for auditors.
  • Considerations for client acceptance and continuance.
  • Auditor registration with the PCAOB.
  • Auditor reporting.
  • Elevated risk of fraud.
  • Readiness of the company to go public.
  • Experience and track record of the SPAC sponsor.
  • Corporate governance.
  • Accounting and reporting.
  • Auditor selection and oversight.
  • Disclosure considerations.

Click to access more webinars on Accounting & Auditing | Excel CPE Courses | Free CPE Webinars

Learning Objectives

  • To discuss disclosure obligations.
  • To know the Auditor reporting duties.
  • To review SPAC sponsor requirements.
  • To discuss that how SPAC influences corporate governance.
  • To be familiar with CAQ guidance.
  • To comprehend SPAC Accounting and reporting.

Who Should Attend?

  • Accountant
  • Accounting and audit managers/practitioners
  • Accounting Firm
  • Accounting Managers
  • Auditors
  • Chartered Professional Accountant
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Staff of Accounting Firm
  • Young CPA

Testimonial

2

(1)
0%
0%
0%
100%
0%