Various professional standard setters are committed to continuously strengthening audit quality. Depending on the nature of the entity being audited, the auditors will need to comply with generally accepted auditing standards (GAAS) promulgated by the American Institute of Certified Public Accountants (AICPA) Statements on Auditing Standards (SAS), Public Company Accounting Oversight Board (PCAOB) Auditing Standards (AS), or Government Accountability Office (GAO) Generally Accepted Government Auditing Standards (GAGAS), also known as the Yellow Book. 

This course focuses on the top issues that these standard setting bodies will focus on in upcoming financial statement audit quality reviews. 

The course reviews pertinent technical guidance and uses real-world examples and case studies to reinforce key points along the way.

Learning Objectives
  • Discover the role that each professional standard setter plays in relation to high quality financial statement audits.
  • Explore the biggest audit issues most likely to be faced in the upcoming audit cycle.
  • Identify the most complex and judgmental audit considerations that can negatively impact audit quality.
Last updated/reviewed: March 12, 2024
5 Reviews (47 ratings)

Reviews

4
Anonymous Author
This course provides a good understanding of the professional standard setters and the responsibilities auditors have when auditing to these professional standard setters.

4
Member's Profile
Course was thorough and presented in a logical fashion. Need to update information since it appear to be from 2018 or prior.

4
Anonymous Author
A good introduction to the different regulatory agencies, and what are their main focus.

4
Anonymous Author
Course clearly covered the QC issues and met its objectives.

5
Member's Profile
Audio is not good. Volume modulation is all over the place.

Prerequisites
Course Complexity: Intermediate

No advanced preparation or prerequisites are required for this course.

Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to Top Issues that the AICPA, PCAOB, and GAO will Focus on in Their Upcoming Financial Statement...1:14
  Overview of Professional Standard Setters4:18
  Professional Conduct10:34
  Transitioning to New Standards10:49
  Properly Identifying and Responding to Audit Risk9:46
  Cybersecurity Risks8:19
  GAO Special Considerations7:36
CONTINUOUS PLAY
  Top Issues that the AICPA, PCAOB, and GAO will Focus on in Their Upcoming Financial Statement.... 52:35
SUPPORTING MATERIALS
  Slides: Top IssuesPDF
  Top Issues Glossary/IndexPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam