Objectives
• Identify “hot topics” in accounting and financial reporting
• Recognize required changes that will impact current period financial statements and disclosures
• Recall how to manage risk associated with audit and nonaudit services and changing professional, technical, regulatory, or ethical requirements
• List practical examples of implementing changing technical, professional and relevant regulatory requirements
Major Topics
• Recall answers to FAQ related to Topic 842 lease accounting and reporting
• List recent developments of the FASB
• Recognize current hot topics in accounting and financial reporting due to the current environment, such as risks and uncertainties and nonpublic entity alternatives
• Recall requirements of SAS 142-148
• List quality control concerns related to SSARS 25, emphasizing reviews
• Identify recent SSAE changes with AUP and examination engagements
• Interpret recent ethics interpretations