Beach Retreat: Minimizing Professional Liability Risk and Peer Review Deficiencies in All CPA Services

Description

Every CPA firm that provides audit and other attest services must undergo a third-party quality control review and must take proper action to minimize peer review deficiencies.  However, malpractice claims can also result from any type of service, including nonattest services like bookkeeping and preparing tax returns. This session will provide you with the tips on how to avoid common quality control deficiencies in all services that are subject to peer review or professional liability claims.

Learning Objectives

Upon completion of this course participants will be able to:

  • Describe the nature of risks faced when performing audit and nonaudit services for clients
  • Explain how to mitigate risks faced by all CPAs in performing audit and nonaudit services
  • Apply best practices for maintaining quality control for audit and nonaudit engagements
  • Discuss common peer review deficiencies in all types of audit and attest engagements
  • Apply best practices for ensuring professional, technical, regulatory and ethical standards for various audit and nonaudit services
Major Topics
  • Differentiating risks faced when performing audit and nonaudit services, such as reviews, compilations, preparing financial statements, bookkeeping, tax return preparation, and similar
  • Best practices for preventing quality control concerns that could lead to peer review deficiencies or malpractice claims
  • Establishing an understanding with the client to minimize misunderstandings as to the nature and scope of engagements
  • Complying with the Code of Professional Conduct and quality control standards
  • Explain situations when independence should be appropriately safeguarded when performing attest and nonattest services
  • Applying professional skepticism to ensure quality work
  • Meaningful risk assessment when designing work programs for various levels of services
  • Proper planning and supervision of all engagements
Provider
Business Learning Institute
Course Level
Basic
Professional Area of Focus
Accounting & Auditing
CPE Field of Study
Auditing
4
Instructor(s)
Jennifer Louis
Prerequisites

None

Advanced Preparation

None

Location
 
Princess Royale
9100 Coastal Hwy
Ocean City, MD 21842 US
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When
Jun 27, 2019
12:00 pm - 3:30 pm EDT
Location
Princess Royale
9100 Coastal Hwy
Ocean City, MD 21842 US
Total CPE Credits
4
Format
In-Person
Instructor
Jennifer Louis

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$125.00
Price includes $25 early registration discount(s) - expires 05/29/2019
Price increases to $150.00 on 05/30/2019

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$ (% off)
$175.00
Price includes $25 early registration discount(s) - expires 05/29/2019
Price increases to $200.00 on 05/30/2019
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Beach Retreat: Minimizing Professional Liability Risk and Peer Review Deficiencies in All CPA Services


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