NASBA field of study: Ethics
Program Level: Basic
The Office of Professional Responsibility (OPR) has been very busy, ensuring that Circular 230 Practitioners (that's us) follow rules that prescribe and proscribe our behavior. We will discuss what we can—and must—do to assist our clients while maintaining ethical integrity and complying with Circular 230 rules. Completion of this course will enable you to: describe the changes at the IRS relating to ethics; identify how to navigate Circular 230; and explain how the AICPA SSTS statements further illuminate Circular 230.
NASBA field of study: Accounting
This course provides a look at the requirements for preparation and compilation engagements performed under SSARS. While both engagements are considered non-assurance engagements, only the compilation engagement is an attest engagement. A comparison of the two engagements will be provided in order to assist the accountant in determining which is the most appropriate engagement. Review engagements have been changed as a result of the issuance of SSARS 25. This course will review the changes and provide guidance on how practice will change. Reports issued under SSARS, including compilation reports will be discussed in this course. The process of preparing financial statements is dictated by the Applicable Financial Reporting Framework selected by management. This course not only explores the basic financial statements required under United States GAAP, but also covers the impact of the use of Special Purpose Frameworks. The FASB continues to issue guidance related to the simplification project that will ease financial reporting requirements. The upcoming lease standard and implementation guidance will be discussed both from the perspective of the industry and public accounting CPA. This course will address the major new FASB Standards as well as provide an overview of the recently issued auditing standards that will impact the audit report and ERISA audits.