June 12, 2026

Livestream

AND

In-Person

MSCPA Center
306 Southampton Row, Ridgeland, Madison County, Mississippi 39157

4 CPE Credits

Auditing Complex Management Estimates-Virtual Speaker

June 12, 2026
In Person + Online
4 CPE Credits

Auditing Complex Management Estimates-Virtual Speaker

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    Instructor

    Thomas
    Newell

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    Thomas Newell, CPA

    Bio

    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. His skills resulted in his being awarded the Surgent Outstanding Discussion Leader Award in 2015, 2016, 2018, 2020, 2021, 2022, and 2023. Tom was recognized in 2018, 2021, and 2023 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 has now moved into 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.

Accounting estimates are often some of the most difficult and subjective amounts included in U.S. GAAP financial statements. These estimates are pervasive and are often sensitive to relatively small changes in assumptions or circumstances, which can have a significant impact on the recorded (or not recorded) estimate in the financial statements. In this course, we will review the relevant auditing guidance related to auditing estimates, including the estimate for credit losses under ASC 326. We will focus on the three most common ways auditors can approach their audit of accounting estimates: waiting for the contingency to resolve itself, auditing the client’s estimation process, and developing the auditor’s point or range of estimate. Then we will review what has changed since SAS 143 became effective for 2023 audits.

Learning Objectives

  • Recall key presentation and disclosure requirements of ASC 326 
  • Recall key approaches to auditing accounting estimates 
  • Identify key provisions under SAS 143 
  • Identify common models used to estimate credit losses and other estimates under U.S. GAAP

Major Topics

  • Common accounting estimates 
  • Accounting guidance related to loss and gain contingencies 
  • Audit guidance related to auditing accounting estimates 
  • Auditing expected credit losses under ASC 326 
  • Overview of the requirements of SAS 143 
  • Key changes to auditing estimates due to the issuance of ASC 326

CPE Credits Available

4 CPE Credits
4
Auditing

MSCPA Center

306 Southampton Row, Ridgeland, Madison County, Mississippi 39157

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Things to Know About This Course

Course Level

  • Intermediate

Professional Area of Focus

  • ASC 326
  • Auditing
  • GAAP
  • SAS 143

Prerequisites

Experience in accounting and attestation

Advanced Preparation

None

Intended Audience

Experienced auditors and auditors auditing CECL estimates under ASC 326 for the first time

Provider

Surgent

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