top of page
PCAOB AS 2201: An Audit of ICFR

PCAOB AS 2201: An Audit of ICFR

This CPE training has been developed specifically to assist External Audit firms to comply with the PCAOB Auditing Standard 2201.


This CPE training has been developed specifically to assist External Audit firms to comply with the PCAOB's expectations for the documentation concerning internal controls over financial reporting (ICFR). It is based on the best practices for auditing public companies, including planning engagements using the latest guidance from the SEC, PCAOB, COSO and COBIT.


This is one of several CPE seminars and workshops we present concerning compliance with the Sarbanes-Oxley Act. This CPE training seminar is designed for external auditors with PCAOB registered firms, attorneys, internal auditors and others engaged in the auditing of public companies.


Learn how the PCAOB Auditing Standards can be applied to test and evaluate internal control frameworks which comply with Sarbanes-Oxley. Improve your audit planning and documentation by improving your understanding of internal controls.


You can request this event for any day at any time with two attendees.


Each attendee will receive 4 CPE Hours (YB). A certificate of completion will be provided.

  • Details on Event Presentation

    Being offered twice a quarter on Tuesdays at 10:00 a.m. to 2:30 p.m. Central Time. There will be a lunch break from 12:00 noon to 12:30 p.m.

    We can schedule private events on your timetable for two or more attendees.

  • CPE Event Highlights

    The seminar reviews and answers the following questions:

    • Audit Planning Process under PCAOB AS 2201

    • Risk Assessment Underlies the Entire Audit Process

    • Structure of the COSO and COBIT Internal Control Frameworks

    • Best Practices within Entity-Level Controls

    • Assessment of Entity-Level Controls

    • Testing the Effectiveness of Key Controls

    • Summary of PCAOB Guidance and Presentations

    • This seminar is based on the history of PCAOB activities and guidance (See History of PCAOB ICFR Assessment Activities below)

  • Learning Objectives

    Attendees will:

    • Understand details within PCAOB AS 2201

    • Identify methods for improving their audit workpapers

    • Understand entity-level controls and their application to risks

    • Learn the available guidance from the PCAOB

    • Discuss how internal controls are used by clients manage risk and reduce fraud

  • Key Issues on the Agenda

    Section 1 - Introduction and Background

    • Introduction

    • History of Audits of Public Companies

    • Definition of Internal Control

    • Review of PCAOB Standards

    Section 2 - Top-Down vs. Control-Based Compliance

    • Where did COSO Originate?

    • How COSO has developed

    • The risk-based approach within PCAOB AS 2201

    Section 3 - Internal Control Frameworks Under SOX

    • What Internal Control Frameworks can be used by clients

    • COSO as defined in the Small Company Guidance

    • The 17 COSO Principles - Valuable Reference Materials

    • COBIT Information Technology Framework

    Section 4 - PCAOB Auditing Standard 2201

    • Guidance for PCAOB Registered Auditors

    • Planning the Audit

    • Using a Top-Down Approach

    • Testing Controls

    • Evaluating Identified Deficiencies

    Section 5 - Entity-Level Internal Controls

    • Assessing Entity-Level Controls

    • Examples of Key Controls at the Entity Level by COSO Principle

    • Best Practices within the Control Environment

    Section 6 - Sarbanes-Oxley Act of 2002

    • Titles and Sections

    Section 7 - Testing of Controls

    • Testing Process

    • Standards for Documenting and Testing Key Controls

    • Sample Size Logic

    • Measuring the Maturity of Controls

    Section 8 - Going Forward

    • Future of Regulation

    • Roadmap to Compliance

    • Lessons Learned

    • Building Sustainability

    • Dave’s Top Ten

  • NASBA Program Disclosure

    Program Level of Understanding: Basic

    Prerequisites: None

    Advance Preparation: None

    Delivery Format: Group Internet Based

    NASBA Field(s) of Study: Auditing, Information Technology

    CPE Credits: 4, based on 50 minutes of instruction per hour

bottom of page