I See It! Bringing into Focus the New Clarified Audit Standards [GNFR Fbx]

Aug 2, 2012
Time: 8-4



Credit Hours:



Member: $295.00
Non-member: $445.00

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Discussion Leader: Laura Lindal

Website registration for this course closes on July 26, 2012. To register after this date please contact the society at akcpa@ak.net or 907-562-4334.

Full Description

I See It! Bringing into Focus the New Clarified Auditing Standards

August 2, 2012

Fairbanks, Alaska

$295 Member Fee
$445 Non Member Fee

The AICPA's Auditing Standards Board Clarity Project is no longer on the distant horizon -- it's here! Find out what the first comprehensive rewrite of the SASs since 1972 entails and its implications on your auditing practice. Prepare now for the clarified SASs that generally will be effective for audits of financial statements for periods ending on or after December 15, 2012. The course materials utilize a highly illustrative format to increase concept comprehension and retention.

Major Topics:
Overview of why the Clarity Project was undertaken and how it changed the way standards are written
The convergence of the AICPA SASs and International Standards on Auditing (ISAs)
The components of the clarified standards (i.e., introduction; objective; definitions; requirements; and application and other explanatory material)
The inclusion of special considerations relevant to audits of smaller, less complex entities and audits of governmental entities
New auditing standards terminology being introduced with the clarified standards (e.g., applicable financial reporting framework, emphasis-of-matter and other-matter paragraphs, and group engagement partner and component auditor)
Key changes being made to the auditing standards (e.g., changes in report wording, procedures related to detecting illegal acts, and opening balances in initial audits)
Standards that changed the most and least as a result of the Clarity Project
Tips for transitioning to the new standards

Learning Objectives:
Stay current in the complex and ever-changing auditing environment
Fundamentally understand the who, what, and when of the clarified standards
Prepare yourself and your firm for implementation of the clarified standards
Who Will Benefit:
All auditors
Level of Knowledge: Basic
Prerequisite: Basic audit knowledge
Advanced Preparation: None
Yellow Book: Yes
New: Yes
:Credits 8
Field of Study: Auditing
Acronym: GNFR
Discussion Leader: Laura Lindal, CPA has her own public accounting firm located in Kirkland, Washington that specializes in attest engagements. She has over twenty years of experience in auditing, including audits performed in accordance with OMB Circular A-133, Consolidated HUD Audit Guide and Government Auditing Standards. She also works with other firms to design, perform, and document audits in accordance with professional standards while maintaining the highest degree of efficiency possible. She also works with companies and organizations as they develop their financial reporting process. She has complemented her skills by performing peer reviews and providing in-firm continuing professional education.
Laura has experience in a variety of industries, not limited to not-for-profit organizations, affordable housing, real estate development and property management, construction, manufacturing, and professional service industries.
Laura is a member of the Washington Society of Certified Public Accountants Auditing and Accounting Review Services Committee. She is also on the Washington Society of Certified Public Accountants Engagement Review Acceptance Body. She is a licensed certified public accountant in the states of California, Washington, and Alaska.