A constant concern for the auditor is ensuring that an adequate degree of independence is maintained between oneself and attest clients. In this ethics CPE course, we delve into the different threats to independence, as well as dozens of scenarios in which the auditor needs to be aware of the safeguards that can be used to preserve an acceptable level of independence from clients. Our CPA ethics course pays particular attention to safeguarding independence when both attest and non-attest services are provided to clients.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Describe the elements of the independence concept.
Specify the different types of threats to independence.
Describe the independence threats that can arise from a merger of audit firms.
Describe the manner in which independence can be applied to the affiliates of an attest client.
Specify how a clause in an engagement letter could trigger an independence threat.
Explain the nature of the various types of financial interests.
Describe the circumstances under which an accountant can have an account with a depository institution and not have an independence issue with it.
Specify how an accountant's teaching arrangement with a local college will still allow her firm to conduct an attest engagement with the college.
Describe the issues to consider when deciding whether a gift could cause an independence threat.
Major Topics
Auditor Independence
Ethical Conflicts
Safeguards
Client Affiliates
Reissued Reports
Network Arrangements
Fees
Trusts and Estates
Loans
Leases
Nonattest Services
Independence Standards for SSAE Engagements
Breach of an Independence Interpretation
