Auditor Independence ON DEMAND
Available Until
Your Desk
2.0 Credits
Member Price $58.00
Non-Member Price $67.00
Overview
A constant concern for the auditor is ensuring that an adequate degree of independence is maintained between oneself and attest clients. In this course, we delve into the different threats to independence, as well as dozens of scenarios in which the auditor needs to be aware of the safeguards that can be used to preserve an acceptable level of independence from clients. Our course pays particular attention to safeguarding independence when both attest and non-attest services are provided to clients. NOTE: This course does NOT meet Washington State Ethics Requirements.
Highlights
Auditor independence. Ethical conflicts. Safeguards. Client affiliates. Reissued reports. Network arrangements. Fees. Trusts and estates. Loans. Leases. Nonattest services. Independence standards for SSAE engagements. Breach of an independence interpretation.
Prerequisites
None.
Designed For
CPAs, CEOs, CFPs, and other tax professionals.
Objectives
Describe the elements of the independence concept. Specify the different types of threats to independence. Describe the independence threats that can arise from a merger of audit firms. Describe the manner in which independence can be applied to the affiliates of an attest client. Specify how a clause in an engagement letter could trigger an independence threat. Explain the nature of the various types of financial interests. Describe the circumstances under which an accountant can have an account with a depository institution and not have an independence issue with it. Specify how an accountant’s teaching arrangement with a local college will still allow her firm to conduct an attest engagement with the college. Describe the issues to consider when deciding whether a gift could cause an independence threat.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $67.00
Member Price $58.00