sqcs7

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The new Statement on Quality Control Standards (SQCS) No. 7 will establish standards and guidelines for CPA firms with respect to the quality control of its auditing and accounting practice. This new guidance will also be issued in conjunction with the AICPA Code of Professional Conduct.

The Knowledge Congress is assembling a panel of distinguished professionals and key regulators to help the public understand the impact of the new guidelines on CPA firms and other companies that are most affected by them. The speakers will present their expert opinions in a two-hour LIVE Webcast.

Course Level: Intermediate
Prerequisite: None
Method Of Presentation: Group-Based-Internet
Developer: The Knowledge Conference
Recommended CLE/CPE Hours: 1.75 - 2.0
(Please note, your State Bar or Accounting Board will make the final determination with respect to continuing education credit. If you are applying for CLE credit in Texas you must register 20 days before the event date.)
Advance Preparation: Print and review course materials
Course Code: 083788
Recording Fee: $299 (Please click here for details)
NASBA Sponsor Number: 109004

 

Featured Speakers for SQCS No. 7 live webcast:


  Event Talking Points (click here to view more)
SEGMENT 1:


Ahava Goldman, Technical Manager - Audit and Attest Standards,
American Institute of Certified Public Accountants

- Communication and Documentation Requirements
  - New
  - Tailor to needs, size and structure of firm.
- Elements of QC System
  - Firm Leadership (very important!)
  - Relevant Ethical Requirements
  - Client Acceptance
  - Human Resources
  - Engagement Performance
  - Monitoring
- Engagement Quality Control Review
  - Engagement performance step that also serves a monitoring function
  - Required to establish criteria
  - Not required to have engagements that meet the criteria

SEGMENT 2:


Dean Beddow, Senior Manager - Practice Quality
Audit Quality and Risk Management,
Grant Thornton LLP

Leadership responsibilities for quality within the firm (the “Tone at the Top”)
  – Defining
  – Importance within a quality control system
  – Relevance to audit firms
  – Applications within the other elements of the SQCS

SEGMENT 3:


Tania Sergott, Senior Manager - Audit Standards, Policies and Methodologies ,
Deloitte & Touche

- Convergence between US and International standards:
  » Further revisions to SQCS eventually will be made to “clarify” it
  » Need for development of QC standard at the engagement level (SQCS No. 7 is at the firm level)
  » Date of completion of EQAR: by report release (issuance) date vs. by report date
- Differences between SQCS No. 7 and PCAOB Proposed Standard on Engagement Quality Review

SEGMENT 4:


Ralph Nach, CPA, Senior Consultant/AuditWatch Faculty,
Thomson Reuters

- Leadership roles, responsibilities, communications, and level of involvement in the attest practice
- Organization, roles, responsibilities, and authority of the quality control function
- Potential changes to firm policies and routine operating procedures including
  » Staffing and scheduling
  » Acceptance of clients and engagements
  » Levels of technical review
  » Resolution of disagreements
- Human resources policies and procedures
  » Performance evaluation and metrics
  » Key performance indicators
  » Compensation decisions
  » Advancement decisions


American Institute of Certified Public Accountants
Ahava Goldman
Technical Manager - Audit and Attest Standards
speaker bio »»

Grant Thornton LLP
Dean Beddow
Senior Manager - Practice Quality
Audit Quality and Risk Management
                       speaker bio »»

Deloitte & Touche
Tania Sergott
Senior Manager - Audit Standards, Policies and Methodologies
speaker bio »»

Thomson Reuters
Ralph Nach, CPA
Senior Consultant/AuditWatch Faculty
speaker bio »»

Who Should Attend?

- CPAs
- CFOs
- Accountants
- Controllers
- Auditors
- Senior Corporate Leaders
- Business owners and managers
- Financial Analysts
- Risk Managers
- Tax Managers
- Operations Managers

Why Attend?

This is a must attend event for anyone interested in having clear understanding about Statement on Quality Control Standards.
- New guidance explained by the most qualified key leaders & experts
- Hear directly from key regulators & thought leaders
- Interact directly with panel during Q&A

Registration Information:                                                                                                                                    



SQCS No. 7
Speaker Organization:






 

 

The Knowledge Conference is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Website: www.nasba.org

 

We are an approved multi-event sponsor in the state of California. Our provider ID is: 14451. In Texas, Illinois, and Virginia, we submit programs for individual approval in advance. In New York, our programs are submitted immediately after the event live date and attendees are sent the approval codes once we receive them from the New York State Bar. In all other states, once attendance is verified, participants are emailed an official certificate of attendance which they submit to their respective State Bar Associations. Our programs are created with continuing education in mind and are therefore designed to meet the requirements of all State Bar Associations. If you have any questions, please email our CLE coordinator at: info@knowledgecongress.org

 
Enrolled Agents Sponsor ID Number: 760

We have entered into an agreement with the Office of Professional Responsibility, Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the Office of Professional Responsibility as to the quality of the program or its contribution to the professional competence of the enrolled individual.