PCAOB Auditing Standard 1300: Auditor Communications
This training event covers the two different subsections of the PCAOB Auditing Standard 1300.
PCAOB Auditing Standard 1301: Communications with Audit Committees requires the auditor to communicate with the company's audit committee regarding certain matters related to the conduct of an audit and to obtain certain information from the audit committee relevant to the audit.
PCAOB Auditing Standard 1305: Communications About Control Deficiencies in an Audit of Financial Statements covers the communication requirements in financial statement audits to identify deficiencies in the company's internal control over financial reporting and report these to the Audit Committee and management prior to the issuance of the auditor's report on the financial statements.
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 PCAOB Auditing Standard should be reflected in the auditing workpapers.
This timely, two hour CPE training event is designed for the CPA firm staff members who will be working on PCAOB regulated audits. The attendees will learn the basics about the contents of the PCAOB Auditing Standards.
The retail cost of the online 2 CPE internal auditor training event is $120 per attendee.
Each attendee will receive 2 CPE Hours (YB). A certificate of completion will be provided.
Program Level of Understanding: Basic
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
CPE Event Highlights
The Public Company Accounting Oversight Board (PCAOB) views engaged and informed audit committee to be an effective force multiplier in promoting individual audit quality.
These two PCAOB Auditing Standards (1301 and 1305) are important parts of assurance of effective communications between the external auditor and the audit committee. The PCAOB wants to encourage audit committees to understand the needs to have auditor independence, auditor communications, using PCAOB inspections reports, audit quality requirements and critical audit matters.
Understand the PCAOB's Standards and Rules.
Understand how the PCAOB uses these items as its regulatory enforcement criteria.
Understand the structure of the PCAOB documents and their overall contents.
Key Items on the Agenda
Section 1 - Introductions
What is the "PCAOB"?
The Tactics Behind Financial Audits
Section 2 - Auditing Standards
Section 3 - Rules of the Board
Section 4 - Quality Control Standards
Section 5 - Attestation Standards & Other Rules
Section 6 - Summary and Going Forward