AICPA Audit Quality Update and Quality Management Standards

Overview

This session will identify the progress of the AICPA Enhancing Audit Quality Initiative and evaluate whether audit quality is improving. Analyze the trends that are contributing to audit quality and recall the major issues identified and the related resources issued by the AICPA to improve practice quality. This session will also analyze the AICPA’s new Statements on Quality Management Standards (SQMS). It will identify the related implementation challenges and timing and evaluate the potential impact on peer review. Learn about AICPA resources for SQMS implementation. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Highlights

The major topics that will be covered in this class include:

Analysis of the AICPA's Enhancing Audit Quality Initiative
Trends in audit quality
Latest on the DOL's audit quality study
Peer review findings and practice tips for achieving high practice quality
AICPA's new SQMS - Overview, implementation considerations, timeline, and AICPA implementation resources
PCAOB and IAASB quality management standards and the potential impact on AICPA standards

Prerequisites

None

Designed For

CPAs in public practice.

Objectives

After attending this presentation, you will be able to...

Evaluate the AICPA's enhancing audit quality initiative and the AICPA's new SQMS
Recall trends in the practice landscape
Evaluate how AICPA's Enhancing Audit Quality Initiative is improving practice quality
Identify SQMS implementation resources