ASCPA's Understanding The Independence Guidelines of the Accounting Profession

Wednesday, May 1 Code: PEAAE-OL 4.0 CPE Credits

Overview

COURSE OVERVIEW<?xml:namespace prefix="o" />

After completing this course, you should be able to understand the basic ethical issues related to accounting and auditing engagements for each of the following areas:

 

Section

1

PCAOB Independence requirements.

 

 

 

Section

2

The Basics of Evaluating Independence.

 

2a

What Exactly is Independence?

 

2b

AICPA Quality Control System.

 

2c

What if independence is breached?

 

 

 

Section

3

Step-by Step Approach to Evaluating Independence.

 

 

 

Section

4

Other Independence Issues

 

4a

Modified rules for AUP engagements.

 

4b

What if I was formerly employed by the client?

 

4c

What if I leave my firm and join the client?

 

4d

Financial relationships.

 

4e

Joint closely-held business investments and lending arrangements.

 

4f

Brokerage accounts with a client.

 

4g

Bank accounts with a client.

 

4h

Insurance policies issued by a client.

 

4i

Gifts and entertainment from and to an attest client.

 

4j

Business relationships that impair independence.

 

4k

Nonattest services.

 

4k-a

Hosting Services are Nonattest Services

 

4l

Potential issues with fee arrangements.

 

4m

The unpaid fees issue.

 

4n

Lease with an attest client

 

 

 

Section

5

Overview of the GAO guidance.

 

 

 

Section

6

Conceptual Framework and ET Section 1.200.