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.
Each attendee will receive 2 CPE Hours (YB). A certificate of completion will be provided.
Details on Event Presentation
Being offered on Wednesdays every six weeks at 10:00 a.m. to 12:00 noon Central Time.
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?
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
NASBA Program Disclosure
Program Level of Understanding: Basic
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