CD of a Teleconference with an Q&A
The AICPA’s Auditing Standards Board reinvigorated the way auditing firms assess the risk of material misstatements in financial statements when it issued Statements on Auditing Standards Nos. 104 through 111. Those eight standards are effective for clients’ fiscal years that started after Dec. 15, 2006, making them very timely – and extremely relevant – for auditing firms right now.
Coupled with SAS No. 112 on how auditors should communicate about deficiencies to clients, the landscape of financial statement audits has been redrawn over the last year. Generic audits clearly will no longer do to ensure that you properly serve your clients in this tougher regulatory environment.
Listen as our panel of accounting profession veterans gives your audit staff the intent and nuance of every material portion of SAS Nos. 104-111. After listening to our speakers, you’ll gain a better understanding of what you’ll need to do with respect to:
- Understanding the client’s environment and internal controls
- Assessing the risks of material misstatements in financial statements
- Crafting procedures that appropriately respond to the risks
- Improving your documentation between the assessed risks and audit procedures
Our panel includes:
Charles “Chip” Schweiger is a partner in the assurance services practice at Grant Thornton, based in the Dallas office. He works with technology, manufacturing and retail/distribution clients. Chip has worked extensively on IPOs, secondary equity and debt offerings, and acquisitions.
Richard Gesseck is a managing director at UHY Advisors in New Haven, Conn. He has more than 35 years of public accounting experience working with manufacturing and distribution and high-tech companies and is a member of FASB’s small business advisory committee.
Lynford Graham is a CPA and former national director of audit policy at BDO Seidman.
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TELECONFERENCE CD
CONTINUING PROFESSIONAL EDUCATION
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