Performing Small Audits Part 2 - Smaller Audits—Saving time with quality control 

CPE Credit: 2 hours

This webinar SQCS No. 8 and includes basic considerations in SQMS Nos. 1 and 2. Compliance with the requirements of these standards can improve overall audit quality and, at the same time, create efficiencies that result in audit engagement time savings

Learning objectives:

1. Apply the quality control policies and procedures that comply with the AICPA’s Code of Professional Conduct and the Statement on Quality Control Standards No. 8 (QC 10), A Firm’s System of Quality Control (Redrafted).

2. Understand basic requirements of the AICPA’s new Quality Management Standards.

3. Identify potential impairments to independence and threats to ethics rules violations.

4. Create for ethics and quality control professional standards.

Topics covered:

· SQCS No. 8 including basic requirements of SQMS Nos. 1 and 2

· CPA firm leader’s responsibilities

· AICPA Conceptual Framework included in the Code of Professional Conduct

· Ethics rules commonly affecting smaller audits

· Elements of a CPA firm’s system of quality control