Audit Confirmations: Navigating the Updated ASB, PCAOB and IAAS Standards
Meeting the Tougher Requirements for Confirming Audit Evidence
Recording of a 110-minute CPE webinar with Q&A
This teleconference will provide accounting advisors with a clear understanding of new and revised confirmation standards from the AICPA Auditing Standards Board, Public Company Accounting Oversight Board, and International Auditing and Assurance Standards Board—and how they impact a firm's external audit engagements.
- Evolution of confirmation standards
- Long period of little change in rules
- Additional focus from corporate financial scandals
- AICPA Auditing Standards Board “External Communications” standard
- Superseding SAS 67
- New considerations for whether external confirmations are to be performed
- PCAOB pending revisions to AU 330 (The Confirmation Process)
- Pending SEC certification
- Expanding requirement for confirmations in additional situations
- Confirmation requests and responses
- Investigations of exceptions
- Reliability of electronic confirmations
- International Auditing and Assurance Standards Board, Standard on Auditing 505 (External Confirmations)
- Emphasis on externally gathered audit evidence, for reliability purposes
- Practical implications for use of confirmations going forward
The panel will analyze these and other impactful aspects of audit confirmations:
- How confirmation procedures may be required in more areas, such as receivables and cash dealings.
- Who can and can't request a confirmation or respond to a request.
- When negative confirmations can be used.
- When exceptions in confirmation responses are allowed.
- The new roles of manual and electronic confirmations.
Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.
Brian Fox, CPA
Founder and President
Mr. Fox is an expert in electronic confirmations, and his company's confirmation service is used by large... | Read More
Mr. Fox is an expert in electronic confirmations, and his company's confirmation service is used by large banks and accountants. He previously worked on audit engagements with Ernst & Young and on M&A work with PricewaterhouseCoopers.Close
Schulte Roth & Zabel
Mr. Robertson represents accounting firms and corporate clients in a variety of state and federal compliance,... | Read More
Mr. Robertson represents accounting firms and corporate clients in a variety of state and federal compliance, enforcement and litigation matters.Close
Senior Principal, Director of Technical Services
Piercy Bowler Taylor & Kern
He provides technical leadership and support for the firm's accounting and auditing practice and technical consulting... | Read More
He provides technical leadership and support for the firm's accounting and auditing practice and technical consulting to other CPA firms.Close