CDAA
CURRENT DEVELOPMENTS IN ACCOUNTING, AUDITING, AND THE
ACCOUNTING PROFESSION: AN OVERVIEW FOR 2007

This course provides an overview of new developments in the area of accounting and auditing. Coverage is continuously updated to reflect the most recently issued official pronouncements.

Major topics include:
  • Audit risk alert
  • FIN No. 48 & Uncertain Tax Positions: tax return vs. financial statements; when and how to recognize liabilities; small firm implications; illustrations and cases
  • Risk-based auditing – practical guidance: what is risk-based auditing? Applying the audit risk model; SAS No. 104 through SAS No. 111; implications for audits of closely-held companies
  • Ethics & Independence Update: tax compliance services: recent developments; AICPA ’ s conceptual framework; 101-3 ARSC survey
  • Current issues: accountants’ legal liability; private company financial reporting; internal control reporting: PCAOB
  • Compilation and review update: review of recently issued SSARs; SSASR and SAS: recent proposals; practice issues
  • Recent FASB developments: fair value measurement: SFAS No. 157 and developments; business combinations and non-controlling interest; pensions and post-retirement benefits; not-for-profit exposure drafts
  • Quality control in the CPA firm: AICPA’s exposure draft explained; elements of a quality control system
  • Auditing standards update

Designed for: Accountants in public practice and industry who need a comprehensive review of recent accounting and auditing pronouncements.

Level of knowledge: Update

Field of study: Accounting and Auditing

Please note: The 2007 version of this course is available beginning June 15, 2007.