The majority of peer review deficiencies and malpractice claims result from nonaudit services. This accounting and auditing CPE course will provide best practices for avoiding legal liability and quality control concerns.
Learning Objectives
Upon completion of this course, participants will be able to:
Describe the nature of risks faced when performing nonaudit services for clients
Explain how to mitigate risks faced by all CPAs in performing nonaudit services
Apply best practices for maintaining quality control for nonaudit engagements
Major Topics
Differentiating risks faced when performing nonaudit services, such as reviews, compilations, preparing financial statements, bookkeeping, tax return preparation, and similar
Best practices for preventing quality control concerns that could lead to peer review deficiencies or malpractice claims
Establishing an understanding with the client to minimize misunderstandings as to the nature and scope of engagements
Explain situations when independence should be appropriately safeguarded when performing nonattest services
