Over the last year, there have been a number of high profile fraud cases which have brought the critical concept of Auditor Independence front and center. Independence is crucial, as audit teams and CPA’s are responsible for assuring that their clients’ financial statements do not contain material misstatements, whether by fraud of error (as defined by GAO and AICPA standards).
Auditor Independence in 2009: What You Need to Know LIVE Webcast will explore auditor independence issues and the structure of independence standards. Specifically we’ll cover
- Interpretive guidance of regulatory requirements and analyses
- Framework for independence
- Exploration of published reference material/guidance
- Which non-audit services are allowed and which ones are banned
- Differences between GAO and AICPA independence standards
This live webcast is a must attend for auditors, CPA’s and any profession interested in areas of auditor independence.
Course Level: Intermediate
Prerequisite: None
Method Of Presentation: Group-Based-Internet
Developer: The Knowledge Conference
Recommended CLE/CPE Hours: 2.0
(Please note, your State Bar or Accounting Board will make the final determination with respect
to continuing education credit.)
Advance Preparation: Print and review course materials
Course Code: 093830
Vassilios Karapanos
Associate Chief Accountant
Karen M. Golz
Americas Vice Chair, Independence/Americas Independence
Bella Rivshin, CPA
Associate Chief Auditor
Russell G Ryan
Partner
Vassilios Karapanos, Associate Chief Accountant, US Securities and Exchange Commission
1) Goals of the SEC independence standard and auditor and company responsibility in regards to preserving the auditor’s independence.
2) SEC sources addressing independence – where you can find more information
3) Overview of Rule 2-01 of Regulation S-X that addresses auditor independence
4) Auditor’s assistance with accounting applications
5) Auditor communications with audit committees, and
6) How to consult with OCA.
Bella Rivshin, CPA, Associate Chief Auditor, Public Company Accounting Oversight Board (PCAOB)
- Sarbanes Oxley Act – created PCAOB and gave PCAOB authority to set ethics and independence rules for auditors of issuers
- Overview PCAOB interim and adopted ethics and independence rules
- Interim ethics and independence rules
- How they interact with SEC independence rules
- PCAOB adopted ethics and independence rules
- Overview of specific ethics and independence rules dealing with audit committee communication
- 3524, 3525, and 3526
- Where to find PCAOB ethics and independence rules
- Staff questions and answers
Karen M. Golz, Americas Vice Chair, Independence/Americas Independence , Ernst & Young LLP
- Importance of auditor independence to the capital markets
- Who sets the auditor independence rules
- Who is responsible to maintain auditor independence
- What should the audit committee, management and the auditor know?
Russell G Ryan, Partner, King & Spalding
- When and how does an auditor independence impairment attract SEC enforcement attention?
- What should an auditor expect if there is an SEC enforcement investigation of independence concerns?
- What are the typical consequences and penalties -- to the auditor and audit client -- if the SEC takes enforcement action alleging an independence violation?
- What lessons can be drawn from recent SEC enforcement cases involving auditor independence?
- Auditors
- Audit Partners
- Audit Consultants
- Corporate Senior Management
- CPAs
- CFOs
- Comptrollers
- Attorneys
This is a must attend event for anyone interested in understanding Auditor Independence.
- New guidance explained by the most qualified key leaders & experts
- Hear directly from key regulators & thought leaders
- Interact directly with panel during Q&A