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Overview

4.0 Credits
IN-PERSON

Quality and ethics are the hallmark characteristics of the accounting profession. As CPAs, it is our responsibility to have a firm understanding of our professional responsibilities in these two key areas. Recently enacted and proposed updates to the AICPA Code of Professional Conduct (Code) and Quality Management standards represent significant changes in how we govern ourselves and our firms as CPAs. Cover the details of the enacted and proposed changes to the Code, especially those that impacted our communication of noncompliance with laws and regulations and other changes which will affect our independence. Review the new quality management standards proposed by the AICPA, which will significantly change how firms design and deploy their processes that ensure engagement quality and compliance with the Code.

Objectives

  • Identify the key provisions of recent updates to the Code
  • Recall key requirements of an effective system of quality management
  • Recall implementation strategies and best practices for these new requirements

Major Topics

  • Proposed and recently enacted updates to the AICPA’s Code of Professional Conduct
  • Proposed Quality Management standards and related SAS
  • Professional responsibilities in this new era
  • Best practices for implementing an effective system of quality management

Prerequisite

Experience in financial accounting and reporting

Sessions

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Monday, July 18, 2022

General Sessions