Overview
This comprehensive annual update brings together key accounting and auditing developments affecting accountants and auditors across industries. The course combines recent standard-setting activity issued by the Financial Accounting Standards Board with major audit and attestation updates from the AICPA, providing a well-rounded view of changes impacting financial reporting and engagement performance. This course will begin with an overview of recently issued and upcoming Accounting Standards Updates, including standards effective for December 31, 2026. The course then shifts to auditing and attestation developments, including the next phase of quality management with a focus on monitoring and remediation requirements. We will also review recent and proposed standards affecting audit, attestation, and consulting engagements, including SSAE No. 24, SSARS No. 26, and SAS No. 149.
Objectives
- Recall effective dates for recently issued accounting and auditing standards.
- Recognize the impact of recently issued ASUs on financial reporting.
- Identify proposed changes to financial reporting included in recent FASB exposure drafts.
- Recognize the impact of recent AICPA standards and proposals on audit and attestation engagements.
- Identify key quality management requirements related to monitoring and remediation.
- Recognize the impact of recent standards on group audits and attestation engagements.
