Annual Update for Accountants and Auditors - Connecticut Society of CPAs

Overview

In today’s ever-evolving regulatory landscape, maintaining relevance in the profession is crucial. You can stay up to date with the rapid developments in accounting and auditing through our comprehensive course. We delve into recent pronouncements, exposure drafts, and additional guidance pertinent to accounting, auditing, review, compilation, and preparation engagements. We’ll navigate the complexities for you, assisting in identifying and implementing the latest standards and guidance from FASB, PCAOB, ARSC, and ASB.

Objectives

When you complete this course, you will be able to:

Identify recently issued FASB Accounting Standards Updates (ASUs) that cover broad and narrow issues.

Identify the objectives and working plan of the Private Company Council (PCC).

Determine the updates issued by FASB at the recommendation of the PCC.

Recognize ongoing FASB projects.

Determine the key elements related to the auditor's risk assessment and recently issued SASS.

Distinguish key elements included in the recently issued Statements on Quality Management Standards (SQMSs) and Statements on Standards for Accounting and Review Services (SSARSs).

Identify best practices for performing analytical procedures in a review engagement.

Highlights

Narrow-scope accounting standards updates

Financial instruments and leases

FASB exposure drafts and projects

Exposure drafts of new auditing standards

Preparation, compilation, and review engagement updates

Designed For

CPAs, accountants, auditors, and finance professionals looking to stay up to date with prospective changes and updated requirements impacting the profession.

Prerequisites

Experience with operational or supervisory responsibilities, or both.

Preparation

None

Notice

By registering for this program and, accordingly, receiving the eMaterials, you’re acknowledging that you understand both the copyright restrictions on your eMaterials and the CTCPA cancellation policy.

Fees

Credits

Level

Code

Vendor

Fields of Study

Leader(s):

Thomas Newell Jr.

Leader Bios

Thomas Newell Jr.

Thomas E. Newell, Jr., CPA Columbus, Georgia Thomas E. Newell, Jr. (Tom) is a shareholder in the firm of Newell & Newell, P.C., which is located in Columbus, GA. Tom started the firm with his wife, Silvia Newell, CPA in 1986. Prior to that, his public accounting experience included both local firms and international firms. Tom has performed hundreds of peer reviews and has been involved with the peer review program since 1989. Tom served on the Georgia Society (GSCPA) peer review committees from 1989 to 1993. In 1993, he was selected to be one of the technical reviewers for the Georgia Society Peer Review Program and served for nine years. During his time as technical reviewer, Tom worked with the GSCPA to move the peer review committee from in-person to online meetings. Tom has also served several years on the accounting and auditing committee at the Georgia Society. Tom has been a presenter at conferences and CPE courses for over 30 years. He has been a frequent presenter for the Georgia Society of CPAs at the Southeastern Accounting Show, Tax Forum (A&A topics), and the Accounting Institute. Tom is also a discussion leader for various continuing education courses on A&A topics for other state societies. He has made presentations at Fortune 500 companies and several government agencies on accounting and auditing, internal controls, and cybersecurity. As a presenter, Tom has been described as a dynamic speaker who is able to take a boring topic (accounting and auditing) and make it interesting. He was awarded the Surgent Outstanding Discussion Leader Award in 2015, 2016, and 2018, as a result of these skills. Tom was recognized in 2018 by the AICPA as an Outstanding Facilitator for his consistently high evaluations of knowledge and presentation skills. As the world of presentations has been changing, Tom has been a champion of moving to virtual presentations. He was involved in the early years of simulcasting by various state CPA societies, as well as the recording of video and audio self-study courses. Tom is now prepared for the next wave of change toward the totally virtual classroom that simulates a true live classroom experience. Tom graduated cum laude from Georgia Southwestern College in Americus, GA in 1980.

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