Webinar (CA): Preserving Independence and Otherwise Complying with the New AICPA Code of Professional Conduct

CPAs performing attest services for clients may find that they are not independent even though they thought that they were. For periods beginning on or after December 15, 2014, a change in the AICPA Code of Professional Conduct classified certain services that are often performed when conducting a compilation, review, or auditing engagement are now considered nonattest services subject to the independence requirements.
In addition, when performing multiple nonattest services for an attest client, the CPA is now required by the Code to apply a conceptual framework approach to determine if independence has been impaired due to the aggregate effect. As a result, many CPAs may be performing attest services for client’s when their independence was impaired.
These changes were incorporated into the Code when it was rewritten, effective December 15, 2014. This course will provide an overview of the Code with an emphasis on revisions. The focus of the course, however, will be on how the CPA can preserve independence when performing nonattest services for an attest client. It will also provide guidelines for establishing firm policies and procedures to provide assurance of the firm’s independence when required and suggest how proper documentation of compliance can be used to reduce the cost of performing financial statement engagements.