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Surgent's Avoiding Deficiencies in Peer Reviews: Focus on Engagement Quality

 Various
 
4.0
Registration is Open
Member Price
$159.00 Regular Registration
Your Price
$167.00 Regular Registration
This course is being offered on multiple dates, listed below. Click the Register button next to your preferred date to register.
 Wed, 07/02/2025 from 1:00 pm to 4:30 pm
 Wed, 07/16/2025 from 10:00 am to 1:30 pm
 Wed, 08/06/2025 from 9:00 am to 12:30 pm
 Tue, 09/09/2025 from 1:00 pm to 4:30 pm
 Fri, 10/17/2025 from 1:00 pm to 4:30 pm
 Tue, 11/18/2025 from 1:30 pm to 5:00 pm
 Mon, 12/08/2025 from 9:00 am to 12:30 pm
 Fri, 01/16/2026 from 1:00 pm to 4:30 pm
 Thu, 04/23/2026 from 9:00 am to 12:30 pm
 Currently available
 Currently available
Designed For:

Accounting and auditing practitioners at all levels desiring to improve engagement quality

Prerequisite:

Experience in accounting and auditing

With the AICPA's heightened focus on enhancing audit quality, increased oversight of the peer review process and the auditor's overall responsibility to provide high quality services, the focus on compliance with professional standards has never been greater. Add to that the requirement to implement the revised risk assessment standards (SAS 145) and it's easy to see why it's more important than ever to ensure that auditors have a good understanding of the requirements and comply with documentation standards. Recent peer reviews have indicated that auditors are often failing to perform and/or document certain critical components of an audit such as the auditor's assessment of risk and linking the results of the assessment to substantive procedures performed. In addition, auditors are not adequately documenting their consideration of fraud, expectations in analytical procedures and the appropriate level of work needed to understand an entity's internal control.The AICPA issued its Quality Management Standards in 2022. Firms are required to implement the standards by December 15, 2025. And the firm's evaluation of the System of Quality Management is required within one year after that. This is not just a matter of tweaking the firm's existing QM document, the standard requires a risk assessment process to identify risk.The objective of the course is to provide the insights necessary to help auditors and accountants improve not just the quality of their work but also the perception of the accounting profession as a whole. We will focus on the most significant items resulting in deficiencies identified in the peer review process. We will also discuss the applicable audit standards, documentation requirements, and best practices. We will address the new QM standards.

Delivery Method: Individual webcast
CPE Credit: Auditing
Program Level: Intermediate

This course is being offered by a 3rd party vendor and will not be accessible on your My CPE page. Webinar access information will be emailed directly to you by Surgent McCoy.

Objectives

  • Identify key elements of the AICPA’s Enhancing Audit Quality initiative
  • Recognize changes in Quality Management standards
  • Recognize key trends in recent peer review deficiencies noted
  • Identify professional standards related to performing a risk assessment, understanding and testing internal controls, and linking these procedures to further audit consideration
  • Implement best practices to help ensure overall engagement quality

Speakers

Advanced Preparation

None

Vendor

The Virginia Society of CPAs (VSCPA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: NASBARegistry.org.

For more information regarding refund, complaint, program cancellation or other policies, visit our Registration Policies page or call (800) 733-8272.