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PCAOB AS 4105: Reviews of Interim Financial Information

PCAOB AS 4105: Reviews of Interim Financial Information

The current PCAOB AS 4105 was included in the original codification of the PCAOB Auditing Standards on December 31, 2017.  Prior to the codification of the PCAOB Standards the auditing standards included in this section was covered by a standalone auditing standard.
 
AICPA Statement on Standards for Attestation Engagements 22: Review Engagements was issued in December 2020. This was the AICPA’s response to the PCAOB’s AS 4105 as included within the codified standards.
 
This event covers the nature, timing, and extent of the procedures to be performed by an independent accountant when conducting a review of interim financial information. We confirm the  general standards are applicable to a review of interim financial information. This event provides guidance on the application of the field work and reporting standards to a review of interim financial information, to the extent those standards are relevant.
 
For purposes of this event and the standards, the term interim financial information means financial information or statements covering a period less than a full year or for a 12-month period ending on a date other than the entity's fiscal year end.
 
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 reviewing of the interim financial informations under PCAOB AS 4105. 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.

    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

    PCAOB Concerns Regarding Adequate Oversight of Reviews of Interim Financial Information

     

    • Clearly describes the types of procedures a practitioner may perform in a review of interim financial information,

    • Defines the reporting requirements for a review for additional transparency;

    • Permits the expression of an adverse conclusion..

  • Learning Objectives

    Attendees will:

    • Understanding the PCAOB’s Auditing Standard 4105 in the context of the available auditing standard guidance

    • Understanding the details within the PCAOB Auditing Standard 4105: Reviews of Interim Financial Information.

    • Understand Auditor Guidance and Responsibilities under Auditing Standard AS 4105

  • Key Issues on the Agenda

    Section 1

    • Introductions

    • Reviews of Interim Financial Information

    • PCAOB vs AICPA vs IAASB

    • Review/Attest Overall Concepts

    • Review Engagement

    • Conclusions


    Section 2

    • PCAOB Auditing Standard Sections

    • Matters Relating to Filings (4000s)

    • PCAOB Auditing Standard 4105

    • Reviews of Interim Financail Information


    Section 3 - Going Forward and Summary

  • Summary of the Subject Matter

    The PCAOB Auditing Standard 4105 (AS 4105) addresses the essential considerations and procedures involved in conducting reviews of interim financial information. This standard plays a pivotal role in ensuring the reliability and integrity of financial reporting between annual periods, serving as a critical aspect of maintaining transparency and accountability in financial disclosures.

    The core focus of AS 4105 revolves around providing guidance for auditors when performing reviews of condensed interim financial information. It outlines the necessary steps and methodologies to assess whether the interim financial information is consistent with the annual financial statements and whether it reflects appropriate adjustments for accuracy.

    This standard emphasizes the importance of understanding the client's business environment, industry, and internal control structure, enabling auditors to tailor their review procedures accordingly. By doing so, auditors can effectively identify and address any material misstatements or inconsistencies within the interim financial information, ensuring that stakeholders have a reliable basis for decision-making.

    Furthermore, AS 4105 underscores the significance of professional skepticism and due professional care throughout the review process, empowering auditors to exercise critical judgment and diligence in evaluating the integrity and accuracy of the interim financial information.

    In conclusion, PCAOB AS 4105 serves as a comprehensive framework for conducting reviews of interim financial information, emphasizing the principles of accuracy, consistency, and professional judgment to uphold the integrity of financial reporting in the dynamic landscape of interim periods.

  • Authoritative Sources

    Here are some resources that serve as guiding lights, offering insights, clarity, and a deeper connection to the principles and practices discussed during the event. These aren't just links on a page; they're gateways to a broader understanding and a more profound application of your knowledge.

    • Public Company Accounting Oversight Board (PCAOB) - AS 4105: Reviews of Interim Financial Information: Starting with the standard itself is essential. It provides the foundational knowledge, detailing the objectives, scope, and requirements of AS 4105. This document is indispensable for anyone looking to deepen their understanding of reviews of interim financial information.
    • American Institute of CPAs (AICPA) - Performing Review Engagements: While focused on review engagements broadly, this resource offers valuable insights that can be applied to the review of interim financial information. It covers best practices, ethical considerations, and practical guidance for conducting review engagements effectively.
    • Journal of Accountancy - Tips for More Effective Review Engagements: This article provides practical tips and strategies for conducting review engagements, including reviews of interim financial information. It's a great read for anyone looking to improve their review processes and ensure their engagements are both efficient and effective.
    • Deloitte - Interim Financial Information: Deloitte offers insights into the nuances of reviewing interim financial information, including considerations specific to different industries and regulatory environments. This resource can help you apply the principles of AS 4105 with a nuanced understanding of various contexts.

    Embarking on this journey of discovery and mastery, each resource you engage with is more than just a step toward fulfilling professional requirements; it's a step toward becoming a steadfast guardian of financial integrity. In a world ever more complex and interconnected, our role in conducting reviews of interim financial information with diligence, skepticism, and a keen eye for detail has never been more critical. As you delve into these resources, may you find not only knowledge but also inspiration—a reminder of the profound impact our work has on upholding trust and transparency in the financial landscape.

     
     
$140.00Price
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