PCAOB Auditing Standard 2501: Auditing Accounting Estimates - 2 CPEs

The PCAOB has adopted a new standard, Auditing Standard 2501, Auditing Accounting Estimates, Including Fair Value Measurements, and related amendments. This new standard replaces the Board's existing standards on auditing accounting estimates, fair value measurements, and derivative instruments.

The PCAOB objective is to strengthen and enhance requirements for auditing estimates, including fair value measurements. This rulemaking is a companion to the rulemaking on the auditor's use of the work of specialists.

Accounting estimates are becoming more prevalent and significant as financial reporting frameworks evolve and require greater use of estimates, including those based on fair value measurements. They are some of the areas of greatest risk in the audit, requiring additional audit attention and appropriate application of professional skepticism. Auditing accounting estimates have proven challenging for auditors.

This timely, two hour morning CPE training event is designed for the CPA firm staff members who will be working on PCAOB regulated audits. The attendees will learn how this update to the Auditing Standards should be reflected in the 2020 auditing workpapers.

Follow the below links for further detail information:
. Seminar Highlights
. Learning Objectives
. Key Issues on the Agenda

The retail cost of this 2 CPE seminar is $120.00 for the first attendee from a single organization. Discounts are available for more than one attendee from each organization: (2) $230.00 (3) $325.00 (4) $410.00 (5) $510.00.

To reserve your space, click here on "SIGN-UP NOW!". You have to complete the registration form and use the corresponding "Submit Registration Form and Move to Payment Options Page" button for filing the registration and moving to the payment page.

Each attendee will receive 2 CPE Hours (YB). A certificate of completion will be provided.

Program Level of Understanding: Basic
Prerequisites: None
Advance Preparation: None
Delivery Format: Group Internet Based
NASBA Field(s) of Study: Auditing
CPE Credits: 2, based on 50 minutes of instruction per hour

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 Upcoming Virtual PCAOB Auditing Standard 2501 events:

Seminar Highlights

. What are the PCAOB Audit Standards?
. What are the typical inspection report issues that lead to changing AS 2501?
. What are the key audit planning issues within AS 2501?
. How does the old standard differ from the new standard?
. How should this effect audit planning in 2020?
. How should this effect audit procedures in 2020?
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Learning Objectives

- Attendees will understand the PCAOB's Audit Standard 2501.
- Attendees will understand how this change in standard will effect risk assessment from the external audit viewpoint.
- Attendees will have examples of audit documentation.
- Attendees will have an approach to issues concerning PCAOB Auditing Standard 2501 compliance.
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Key Issues on the Agenda

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Seminar Schedule

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