This course is designed for the accounting and auditing professional who provides attestation services to closely held businesses. The course reviews recent standard-setting activities of the Financial Accounting Standards Board (FASB) and the AICPA, specifically focusing on those standards having the most significant impact on closely held non-public business entities. The course also discusses adopting the latest audit standards, including the new audit risk assessment requirements.
Learning Objectives
• Review and apply recently issued financial accounting and auditing standards
• Understand the broad financial accounting topics that impact closely held businesses
Major Topics
• Recently issued FASB Accounting Standards Updates, including those that will become effective during audit engagements conducted in 2023
• Recently issued Statements on Auditing Standards and other AICPA activity
• Recently issued Statements on Standards for Accounting and Review Services
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