CPE & Event Catalog

Documentation as a means of audit quality. Responsibilities of the workpaper reviewer. Appropriate review notes at various phases of the engagement, including before and after audit report date and report release. Important tips for providing reviews notes that will promote an effective and efficient financial statement audit.

Common security weaknesses that occur with hardware and software at home and in the office. Malware, ransomware, data breach, and incident response tips. Internal control failures which result in the theft of assets or unauthorized manipulation of data.

Review of applicable auditing standards for risk assessment. Update for SAS 145. Identification and discussion of high-risk audit areas. Discussion and analysis of control risk vs. inherent risk. Practical approach to auditing companies where controls are minimal or not adequately documented. Detailed discussion and examples of risk assessment procedures and alternative approaches.

SAS 145. Issues related to IT in an audit.

Robotic process automation. Accounting.

Robotic process automation. Risk management.

AGI limits. Roth contributions. Modified adjusted gross income. Designated Roth account. Roth conversions. Early withdrawal penalty tax.

Roth IRAs.

S corporation advantages. Payroll tax advantages. Requirements to form an s corporation. The S corporation election. The annual S corporation tax return. Accounting methods. Section 199A deduction for qualified business income. S corporation distributions. Differences between the S corporation and other entities.

Estates and trusts as eligible shareholders. Form 1120S, Schedule B-1. Grantor trusts. Estate and gift tax treatment. GRAT and GRUT. Beneficiary controlled trusts.

Gains and losses realized. Asset transfer. Stock transfer. Sale of assets. Purchaser's tax consequences. Allocations. Effects of agreement.

S corporation status. Income and expense. Built-in gain. Basis of stocks and debts. Form 1120S. Fringe benefits.

Formation of an S Corporation. Tax rules concerning incorporation. Formless conversions and cross-entity mergers. Conversion of limited liability company to corporation or vice versa via state law. Tax treatment of formless conversion of a partnership. Changing tax status without changing nontax status. Options within elective status.

Sale of a profitable business. Special considerations for exiting a troubled corporation. Due diligence concerns. Asset transfer. Stock transfer. Tax-free reorganization.

S Corporation. Distributions. Compensation. Property ownership and usage. Loans back and forth.

Taxation of S Corporations. Form 2553.

Schedule K-2. Form 1116. Foreign Tax Credit. Schedule K-3. Schedule K-2. Schedule K-1.

S corporation invalidation. Reporting violations subchapter S. IRS examinations of S corporations. S corporation dos and don'ts.

Tax planning for S Corp. Audit triggers. Compliance regulations. Social security benefits.

Climate-related risk. Climate-related disclosure resource. Integrating impacts into strategy. Description of expenditures from mitigation and adaptation activities. Transition plans. BOD oversight. Financial estimates and assumptions. Compliance dates.