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The New Group Audit Standard: Understanding the Essentials (4152889F)
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The Auditing Standards Board's Clarity Standards contain major revisions to utilizing the work of other auditors and is significantly broader in scope than previous AU Section 543 Part of the Audit Performed Other Independent Auditors. This new standard introduces many new terms that need to be understood to realize its far-reaching implications. Many firms may not be aware of all the audit situations where this standard will be applicable. For example, it is possible that engagement teams fr

3/22/2016
When: 3/22/2016
2:00 PM - 5:00 PM
Where: Webcast/Webinar
Presenter: Thomas E. Noce, CPA, CFE
Contact: April Deneault
801-834-6634


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The Auditing Standards Board's Clarity Standards contain major revisions to utilizing the work of other auditors and is significantly broader in scope than previous AU Section 543 Part of the Audit Performed Other Independent Auditors.  
This new standard introduces many new terms that need to be understood to realize its far-reaching implications. Many firms may not be aware of all the audit situations where this standard will be applicable. For example, it is possible that engagement teams from the firm auditing a component will fall under these standards. This course will provide the necessary understanding for firms to comply with the performance, communication and documentation requirements of this new standard.

 

 

Objectives:

Identify conceptual and procedural changes resulting from this new audit standard.

Recognize new terminology embodied in the group audit standard.
Identify the procedural and documentation requirements related to group audits.
Recall unchanged, but often problematic, issues related to using the work of others.



Major Subjects:
New terminology and related definitions.
Required communication between the group and component auditors.
Applying materiality in a group audit.
Mandatory involvement of the group auditor in the risk assessment and other work of the component auditor.
Audit interpretations issued subsequent to the original issuance of the standard.



Designed For:

Auditors responsible for planning and conducting audits in accordance with generally accepted auditing standards.

 

Prerequisite: None

 

Advanced Prep: None

  

Speaker: Thomas E. Noce, CPA, CFE

Vendor: CalCPA

Field of Study: Accounting & Auditing

Level: Overview

CPE Credit: 4 Hours

Acronym: GPAU

 

 

Registration Fees:

Members: $140

Nonmembers: $188

 

Meet the Speaker:

Thomas E. Noce, CPA, CFE, PFP, is a graduate of Rutgers University with a degree in accounting. Mr. Noce began his career with a large local accounting firm in New Jersey, where he concentrated in auditing and accounting for non-profit organizations and government related agencies. In 1985, he joined a Palm Springs firm where he was a shareholder from 1995 to 2003.  In 2003, Mr. Noce opened his own practice in Palm Springs. His professional experience includes a variety of clients, including tribal entities, hotels, real estate, construction, homeowners associations, country clubs, non-profit organizations and others. His current practice emphasis focuses on tax and accounting issues related primarily to the real estate and hospitality industries. He also performs special engagements dealing with internal controls and fraud prevention and detection.  Mr. Noce has authored and taught a number of courses for the CalCPA Education Foundation and chaired the Foundation's first two Fraud Conferences, as well as two Audit and Accounting Conferences.  In 2004 and 2010 he received the Foundation's Award for Instructor Excellence.  Currently, Mr. Noce presents six courses for the Foundation in the areas of Fraud, Audit and Accounting Standards and Risk-Based Auditing.

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