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PCAOB Attestation Standard No. 1

PCAOB Attestation Standard No. 1

This PCAOB standard establishes requirements that apply when an auditor is engaged to perform an examination of certain statements made by a broker dealer in a compliance report for the SEC.
 
SEC Rule 17a-5 requires a broker dealer's compliance report to include the following statements:
  • The Internal Control Over Compliance (ICOC) was effective during the most recent fiscal year
  • The ICOC was effective as of the end of the most recent fiscal year
  • The broker or dealer was in compliance with the net capital rule and met the reserve requirements rule
 
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 the findings that the PCAOB have disclosed in their annual report on the broker dealer inspectin program.
 
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 providing an examination engagements concerning a broker-dealer's reporting to the SEC. 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

    This event covers for the external auditor how to deal with the PCAOB Attestation Standard No. 1 :

    • What are examination engagements?

    • How does the auditor approach Internal Control Over Compliance (ICOC)

    • How does the auditor perform an examination of the assertions made by a broker or dealer

    • What does the opinion on the assertions made by a broker or dealer cover?

     

  • Learning Objectives

    Attendees will:

    • Improve their efficiency and effectiveness

    • Understand the PCAOB's objectives in compliance with Attestation Standard No. 1

    • Review the isssues within performing the Examination Engagement

    • Understand how to planning the Examination Engagement

    • Understand how to report on the Examination Engagement

  • Key Issues on the Agenda

    Introductions and Administrative Items
    Section 1 - PCAOB Attestation Standard No. 1

    • Performing the Examination Engagement
    • Testing Controls over Compliance
    • Performing Compliance Tests
    • Evaluating the Results of the Examination Procedures
    • Subsequent Events
    • Obtaining a Representation Letter
    • Communication Requirements
    • Reporting on the Examination Engagement

    Section 2 - PCAOB Enforcement Activities

    Section 3 - Going Forward

  • Summary of the Subject Matter

    This CPE event on PCAOB Attestation Standard No. 1 serves as an invaluable resource for professionals seeking to gain a comprehensive understanding of this pivotal standard. The event delves into the essential components of the standard, offering insights tailored to practitioners involved in attestation engagements and audits overseen by the Public Company Accounting Oversight Board (PCAOB).

    Key areas covered in this event may include:

    • Standard Overview and Applicability: A detailed exploration of the scope and applicability of PCAOB Attestation Standard No. 1, providing professionals with a clear grasp of its regulatory impact.

    • Engagement Considerations and Documentation: Guidance on best practices for conducting attestation engagements in accordance with the standard, emphasizing the requisite procedures and documentation requirements.

    • Examination and Reporting Obligations: Insights into the examination and reporting requirements stipulated by the standard, outlining specific criteria and disclosure considerations for compliance.

    • Quality Control Measures: Discussions on maintaining quality control procedures and exercising professional skepticism in alignment with the requirements of PCAOB Attestation Standard No. 1.

    By addressing these crucial elements, the event aims to empower professionals with the knowledge and tools necessary to navigate the complexities of PCAOB Attestation Standard No. 1, ultimately ensuring adherence to regulatory standards and enhancing the quality of attestation services provided to stakeholders.

  • Authoritative Sources

    In this spirit of continuous learning and genuine engagement, CCS has curated a selection of resources that stand as pillars of knowledge, guiding lights that can help illuminate your path forward. These resources are more than just information; they are invitations to explore, to question, and to grow.

    • PCAOB Attestation Standard No. 1 - Examination Engagements: The bedrock of our exploration, PCAOB's Attestation Standard No. 1 itself, provides comprehensive details on the requirements when an auditor is engaged to perform an examination of certain statements made by a broker or dealer. It's the first stop on your journey to deepening your understanding.
    • PCAOB Staff Guidance: The PCAOB staff develops guidance to assist in the implementation of PCAOB standards and rules. These documents represent a practical approach to applying the standards, offering insights that can help bridge the gap between theory and practice.
    • AU Section 150 - Generally Accepted Auditing Standards: While focusing on auditing standards, AU Section 150 provides context that is invaluable for understanding the broader landscape of audit quality and the objectives to be achieved in an audit. This background can enrich your application of Attestation Standard No. 1 by grounding it in the principles of audit quality.
    • AICPA's Statement on Standards for Attestation Engagements (SSAE) No. 18: Though distinct from PCAOB standards, SSAE No. 18 offers parallel insights into attestation engagements. Understanding these standards can provide a comparative perspective that enriches your grasp of attestation practices and principles.

    Each of these resources, carefully chosen, is more than just a step towards fulfilling professional requirements; they're part of a journey towards excellence, integrity, and a deeper connection to the work we do. They invite us to not just perform our roles but to embody the principles of diligence, transparency, and accountability that define our profession.

    As you delve into these resources, may you find not only knowledge but also inspiration—a reminder of the vital role we play in maintaining the trust and confidence that are the bedrock of our financial systems. May this journey enrich your practice, enhance your understanding, and inspire a continued commitment to excellence in all that you do.

$140.00Price
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