Breaking Down the Auditor's Report for non-ERISA Plan Private Entities

Description

The Auditing Standards Board of the AICPA has recently completed a project to update its standards surrounding auditor reporting. With more than half a dozen new Statements on Auditing Standards, effecting the entire 700 series of the professional standards, there is a lot to learn about the new requirements. This course will take you through the significant areas of Professional Standards, including highlighting the new areas and requirements. The audit report, while retaining much of the familiar language, is much different under these new standards. Let us walk you through to ensure compliance. Note: This course does not address SAS No. 136, Forming an Opinion and Reporting on Financial Statements of. Employee Benefit Plans Subject to ERISA. The AICPA offers a companion course which focuses on auditor reports for employee benefit plan engagements. See "Breaking Down the New Auditor's Report for ERISA Plans" (AUREPE).

Highlights

  • Standard auditor's report
  • Modified opinions in an auditor's report
  • Other matters in the auditor's report
  • Form and content of the auditor's report

Objectives

When you complete this course you will be able to:

  • Identify the requirements of the reporting sections of AICPA Professional Standards.
  • Recall the form and content of the standard auditor's report and when and how to modify the standard report.

Designed For

Auditors in practice


Leaders

Bruce Shepard

Bruce Shepard was most recently an assistant professor of accounting at George Fox University and an adjunct professor of accounting at the University of Oregon, prior to becoming an instructor for the AICPA in 2012. From 2006-2010, Mr. Shepard was the Chief Financial Officer of Las Vegas Gaming, Inc. in Las Vegas, Nevada, where he had full management responsibility for all financial affairs, daily business operations, administration and human resources. From 1985-2006, Mr. Shepard was in charge of the Middle Market Practice for PricewaterhouseCoopers, LLP in Portland, Oregon, where he served as an Assurance Partner from 1989-2006 focusing on providing proactive business advisory services to fast-growing companies. Bruce has many years of governmental experience around Portland, Oregon where he practiced for 3 years. In addition, Bruce has taught all of the governmental accounting and auditing classes for the AICPA for the last four years including being the lead instructor on GASB 68. Presently, Bruce is the author of the AICPA course, Audits of Banks and Other Financial Institutions.

At PricewaterhouseCoopers, LLP, Mr. Shepard spearheaded over 100 acquisitions and divestitures by leading in the financial structuring of the transactions. He worked with clients to develop strategic plans for short-term and long-term growth. He assisted both start-up companies and beyond start-up companies with attaining their needed growth capital. Mr. Shepard wrote an article, Financing Entrepreneurs, in 1999 for the Oregon Society of Certified Public Accountants. Mr. Shepard was awarded “Beta Alpha Psi Professional of the Year” in 2006 for sustained involvement with the University of Oregon.