Keep up to date with the latest on new standards related to financial accounting, compilation and review, and auditing. Learn about the standards' specific requirements and their potential impact on financial statements, as well as what's in the pipeline regarding proposed standards to identify issues that may impact your firm and clients. We'll also discuss activities of the Private Company Council (PCC) and the AICPA Financial Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEs).
Note: SEC reporting requirements and public company audit requirements will not be covered.
Recognize the requirements and impact of all financial accounting standards recently issued or effective in 2015 and thereafter.
Determine compilation and review standards issued during the past two years.
Identify and gain an understanding of recently enacted auditing standards.
Recall the activities of the Private Company Council (PCC) and provide an overview of the AICPA Financial Reporting Framework for Small-and Medium-sized Entities (FRF for SMEs).
Financial accounting standards effective in 2015 and thereafter
Outstanding exposure drafts related to select proposed financial accounting standards
AICPA Financial Reporting Framework for Small and Medium Sized Entities (FRF-SMEs)
Compilation and review standards and interpretations (SSARS)
Auditing standards and interpretations (SAS &SAE)
CPAs responsible for preparing GAAP financial statements, as well as those who audit, review or compile financial statements.
Prerequisite: General working knowledge of GAAP and compilation, review and audit standards.
Advanced Prep: None
Speaker: Thomas E. Noce, CPA, CFE
Field of Study: Accounting & Auditing
CPE Credit: 8 Hours
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.