CPE Catalog & Events

Private company standard setting activities. Small and medium-sized business-related ASUs. Lease accounting update. Lessons adopted from the adoption of Topic 606. Special purpose frameworks -- cash, modified cash, and tax basis. Common small and medium-sized business financial statement errors and deficiencies. Newly issued SSARS and SSAE standards. SASs effective for 2022 year-end audits.

Auditor and auditee responsibilities. Planning the compliance audit and other risk assessment considerations. Required elements of the SEFA. Major program determination process. including clusters and loans/loan guarantees. Considerations when assessing and evaluating internal controls over compliance. Considerations of pass-through entities and subrecipients. Audit sampling in a compliance audit. Advanced audit reporting issues.

Audit requirements for ERISA Schedule 103(a)(3)(C) audits, An annual update of the changes affecting 401(k) plans, Compliance issues associated with eligibility and enrollments, remittances, lack of oversight, compensation, vesting, and other topics, Best practices for engagement planning, internal controls, risk assessment, and detailed testing, Avoiding common mistakes while performing audit procedures, Plan mergers and acquisitions, Common audit reporting and disclosure issues

GAAP vs. ERISA reporting requirements. Audit planning. Risk assessment. including consideration of internal control. Auditing the statement of net assets available for benefits. Auditing the statement of changes in net assets available for benefits. Other auditing considerations. including prohibited transactions and. tax compliance. The auditor's report. Financial statement disclosures. Supplemental schedules.

Establishing rapport with the auditor. IRS audit statistics, appeals statistics, and other statistics. Preparing for the audit. Preparing for an appeal. Questions to ask the auditor. Getting copies of the auditor's workpaper file.

Critical aspects of Single Audit compliance. Complexities of the Office of Management and Budget (OMB) Compliance Supplement. Recent changes in compliance requirements.

Administrative guidance issued thus far. Special anti-abuse mechanisms. Initial criticism by various organizations. Burgeoning enforcement efforts, including congressional investigations and IRS audits.

Introduction to single audits. Preparation of the schedule of expenditures of federal awards and determining major programs. Understanding, assessing, and testing internal control. Testing compliance with federal statutes and regulations and applicable compliance requirements. Auditor reporting in a Uniform Guidance compliance audit. Program-specific audits. Administrative requirements and cost principles in a single audit.