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PCAOB AS 3101: Auditor's Unqualified Opinion

PCAOB AS 3101: Auditor's Unqualified Opinion

PCAOB Auditing Standard 3101: “The Auditor's Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion” establishes the requirements regarding the auditor's opinion after providing a financial statement audit.
 
The auditor's report contains either an expression of opinion on the financial statements or an assertion that an opinion cannot be expressed.
 
This standard establishes requirements regarding the content of the auditor's written report when the auditor expresses an unqualified opinion on the financial statements.
 
This standard also establishes the requirements regarding the reporting of critical audit matters relating to the audit of the financial statements.
 
This timely, two hour morning CPE training event is designed for the CPA firm staff members who will be working on PCAOB regulated audits. The attendees will learn how to properly address the audit report for an unqualified opinion and the effects of the Auditing Standard on the auditing workpapers.
 
Attendees in this PCAOB auditing standard CPE event will earn 2 CPE Event Hours (YB). A certificate of completion will be provided.
 
Don't miss this opportunity to enhance your understanding of delivering an unqualified opinion on the audit results under PCAOB AS 3101. Register now to gain valuable insights and techniques that will elevate your effectiveness in conducting PCAOB regulated audits.

  • Details on Event Presentation

    Offered every six weeks on Wednesdays at 1:00 p.m. to 3:00 p.m. Central Time in two CPE-Credit event.

    We can schedule private events on your timetable for two or more attendees.  Bring this event on AS 3101 to your audit team.

    NASBA Program Disclosure

    Program Level of Understanding: Basic

    Prerequisites: None

    Advance Preparation: None

    Delivery Format: Group Internet Based

    NASBA Field(s) of Study: Auditing

    CPE Credits: 2, based on 50 minutes of instruction per hour

  • CPE Event Highlights

    The objectives of this event is to clearly define for the auditor how to present their conclusion that an unqualified opinion is appropriate for a financial statement audit. It provides details on how a written report that expresses an unqualified opinion on the financial statements should be presented. Additionally, the audit standard requires the auditor to now close the risk management loop by properly communicating the critical audit matters relating to the audit of the financial statements.

  • Learning Objectives

    Attendees will:

    • Understand the PCAOB's Audit Standard 3101.

    • Understand how to structure the unqualified opinion.

  • Key Issues on the Agenda

    Introductions and Administrative Items

    • Introductions

    • What is the "PCAOB Auditing Standards" context?

    • What are the Five Major Audit Standard Sections

    • What is in Section 3100: Auditor Reporting

    Section 1 - Auditing Standard 3101 - Unqualified Opinion

    • Introduction to the Standard

    • Objectives of the Standard

    • Basic Elements of the Unqualified Report

    • Critical Audit Matters

    • Explanatory Language

    • Emphasis of a Matter

    • Information about Certain Audit Participants

    Section 2 - Going Forward and Summary

    • PCAOB Inspections Observations on Section 3101

    • PCAOB Guidance on AS 3101

  • Summary of the Subject Matter

    This CPE event on PCAOB AS 3101: Auditor's Unqualified Opinion is designed to provide a comprehensive understanding of the standards and best practices involved in issuing an unqualified opinion as an auditor. Attendees can expect to gain in-depth insights into the key considerations, requirements, and methodologies essential for delivering an unqualified opinion with integrity and adherence to regulatory guidelines.

    This subject matter covers the critical aspects of auditor responsibilities, professional skepticism, and the evaluation of financial statement presentation and disclosures, ensuring that attendees leave with a robust understanding of the intricacies involved in issuing an unqualified opinion as per PCAOB AS 3101.

  • Authoritative Sources

    After attending the CPE event on PCAOB AS 3101: Auditor's Unqualified Opinion, expanding your knowledge with authoritative sources can provide valuable insights into this complex subject matter. Here are some reputable sources, along with their web links, to further enhance your understanding:

    • PCAOB Official Standards and Resources
      • The PCAOB's official standards and implementation resources offer comprehensive guidance on the content of the auditor's written report when expressing an unqualified opinion on financial statements. This can provide detailed insights into the specific requirements and considerations outlined in AS 3101.
    • SEC.gov - Proposed Auditing Standards
      • Exploring the proposed auditing standards related to the auditor's report on an audit of financial statements when expressing an unqualified opinion can offer additional perspectives and insights, ensuring a holistic understanding of the regulatory landscape and industry best practices.
    • Public Company Accounting Oversight Board (PCAOB)
      • Leveraging the resources provided by the PCAOB, particularly those related to auditor reporting and implementation guidance documents, can enrich your knowledge of the practical application of AS 3101 and the staff's views on related implementation issues.

    By delving into these authoritative sources, you can deepen your expertise in the nuances of issuing an unqualified opinion as an auditor, ensuring that you are equipped with comprehensive insights to navigate the complexities of this regulatory landscape effectively.

$140.00Price
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