Peer Review Conference 2019

Aug 5, 2019 ‐ Aug 7, 2019


We will offer a full day of optional sessions on Monday, August 5, 2019. Back by popular demand will be the conference cases and concurrent sessions, along with an A&A update and its Impact on Peer Review. For the third year, we will offer topical breakout sessions.


The Association is dedicated to removing barriers to the accountancy profession and ensuring that all accountancy professionals and other members of the public with an interest in the profession or joining the profession, including those with disabilities, have access to the profession and the Association’s website, educational materials, products, and services. The Association is committed to making professional learning accessible to all product users. This commitment is maintained in accordance with applicable law. For additional information, please refer to the Association’s Website Accessibility Policy. As part of this commitment, this product is closed-captioned. For additional accommodation requests, please contact adaaccessibility@aicpa-cima.com and indicate the product that you are interested in (title, etc.) and the requested accommodation(s): Audio/Visual/Other. A member of our team will be in contact with you promptly to make sure we meet your needs appropriately. 


Sessions

A&A Update and Its Impact on Peer Review

Aug 7, 2019 8:00am ‐ Aug 7, 2019 9:15am

Identification: PER1906

Operation Minutes : 75

Bob Dohrer, Chief Auditor for the AICPA, and Alan Long, former Peer Review Board Member and current Auditing Standards Board Member, will discuss updates to standards, their impact on peer review, and new standards on the horizon.

  • Obtain an understanding of standards recently finalized by the Auditing Standards Board their impact on peer review.
  • Obtain an understanding of exposure drafts recently issued by the Auditing Standards Board and their future potential impact on peer review.
  • Learn about other projects currently on the agenda of the Auditing Standards Board and projects being undertaken jointly with other teams.

Speaker(s):
Standard: $49.00

Conference CasesConference Cases

Preview Available

Conference Cases

Aug 7, 2019 9:30am ‐ Aug 7, 2019 11:10am

Identification: PER1907

Operation Minutes : 100

Participants will be divided into breakout groups to consider case studies and short question and answer cases on issues and problems related to the performance and administration of Peer Reviews, including discussion of recently issued Reviewer Alerts. A member of the AICPA Staff, Peer Review Board or other designated individual will facilitate each breakout group.

Standard: $49.00

Broker-DealersBroker-Dealers

Preview Available

Broker-Dealers

Aug 7, 2019 11:20am ‐ Aug 7, 2019 12:10pm

Identification: PER1908A

Operation Minutes : 50

Richard Wortmann, PRB Oversight Task Force Member, will discuss recent changes in peer review guidance related to engagements of brokers and dealers in securities, as well as other key items related to peer reviewing these engagements. This information will help you identify non-conforming broker-dealer engagements when conducting peer reviews. Attending this session will satisfy the new training requirement for peer reviewers of broker-dealer engagements.

  • Identify which engagements are included in the scope of peer review.
  • Apply concepts from accounting, auditing, and peer review guidance for broker-dealer engagements.
  • Identify common peer review matters and findings on broker-dealer engagements.

Speaker(s):
Standard: $49.00

Back to Basics: Peer Review Guidance

Aug 7, 2019 11:20am ‐ Aug 7, 2019 12:10pm

Identification: PER1908B

Operation Minutes : 50

Barbara Lewis, PRB Member, and Jennifer Gum, Manager – Peer Review, will discuss common areas in which peer reviewers receive questions from technical reviewers and RABs, where they receive feedback, and how to avoid both.

  • Recall common reasons for delayed acceptance and deferrals of peer reviews.
  • Recall guidance related to peer review risk assessment.
  • Identify improvement areas for writing of matters and findings.

Speaker(s):
Standard: $49.00

Navigating Dangerous Waters: Auditor's Risks to Independence

Aug 7, 2019 11:20am ‐ Aug 7, 2019 12:10pm

Identification: PER1908C

Operation Minutes : 50

Advising audit clients on the implementation of new accounting pronouncements without inappropriately stepping in the shoes of management can be difficult; the recent revenue recognition standard has heightened this risk. In addition, practitioners often struggle to find a balance between challenging management’s assumptions in the area of accounting estimates versus developing their own independent conclusions. Bob Dohrer, Chief Auditor for the AICPA, and Toni Lee-Andrews, Director – Professional Ethics, will discuss the appropriate steps to take to both avoid independence impairments and appropriately audit estimates. This discussion will include other recent ethics pronouncements where, if not appropriately implemented by firms, will also lead to independence issues.

  • Understand the appropriate steps to take to avoid independence impairments when performing non-attest services.
  • Understand fundamentals of auditing accounting estimates such as those required by FASB ASC 606 and related implications for auditor reporting.
  • Identify recent pronouncements where, if not appropriately implemented, could lead to independence issues.

Speaker(s):
Standard: $49.00

Peer Review Focus Areas: Internal Controls and Risk Assessment

Aug 7, 2019 1:20pm ‐ Aug 7, 2019 3:00pm

Identification: PER1909

Operation Minutes : 100

More than a decade after the Risk Assessment Standards were issued, the AICPA Peer Review team continues to find that more than half of all firms fail to comply with AU-C Section 315 or 330. Liz Gantnier, PRB Member and Chair of the Standards Task Force, and Carl Mayes, Associate Director – CPA Quality and Evolution will discuss the most pervasive issues peer reviewers uncover, and advice and resources you can provide to your peer review clients to help them in these areas.

  • Identify the most commonly misapplied requirements of AU-C Sections 315 and 330.
  • Determine how non-compliance with the risk assessment standards should be assessed from the peer review perspective.
  • Understand the intent of the Standards and how the requirements should be interpreted.

Speaker(s):
Standard: $49.00

AICPA Technical Hotline's Top A&A Issues Facing CPAs

Aug 7, 2019 3:15pm ‐ Aug 7, 2019 4:05pm

Identification: PER1910A

Operation Minutes : 50

Tom Groskopf, Technical Director – CPEA, and Tim Kindem, Senior Manager – Peer Review, will discuss the top accounting and auditing issues being processed by the AICPA’s A&A Technical Hotline and what peer reviewers should do if these issues are identified in a peer review.

  • Identify common audit or accounting areas that practitioners frequently ask about.
  • Determine how non-compliance in those common areas impact the performance and results of a peer review.
  • Identify resources available to you and your peer review clients that can assist when these types of questions come up.

Speaker(s):
  • Tim Kindem, CPA, Technical Manager, AICPA
  • Thomas Groskopf, CPA, Technical Director - Center for Plain English Accounting, AICPA/Barnes, Dennig & Co., Ltd
Standard: $49.00

Breaking Bad…News: Communication Strategies for Peer Reviewers

Aug 7, 2019 3:15pm ‐ Aug 7, 2019 4:05pm

Identification: PER1910B

Operation Minutes : 50

Ongoing communication with peer review clients is critical to the success of a peer reviewer’s practice. In this session, Karen Welch, PRB Education and Communication Task Force Chair, and Fran McClintock, Associate Director – Peer Review, will discuss communication tips for peer reviewers, including delivering adverse news, closing meeting/exit conference communication strategies, and other tips for these crucial conversations.

  • Discuss basic communication tips for use during crucial conversations.
  • Apply these communication strategies to peer review situations and processes.
  • Explore additional avenues to develop enhanced communication practices.

Speaker(s):
  • Frances McClintock, CPA, Assoc Director - Peer Review Program, Association of International Certified Professional Accountants
  • Karen Welch, CPA, Principal/Quality Control Director, Walsh & Company, PC
Standard: $49.00

An Elemental Focus: Systems of Quality Control

Aug 7, 2019 3:15pm ‐ Aug 7, 2019 4:05pm

Identification: PER1910C

Operation Minutes : 50

Jeff Gendreau, PRB Education and Communications Task Force Member, and Brad Coffey, Manager – Peer Review, will discuss evaluating the design, and testing compliance with quality control policies and procedures in accordance with QC section 10, A Firm’s System of Quality Control (AICPA, Professional Standards). This session will also cover best practices and considerations related to a peer reviewer’s documentation and disposing of “No” answers identified during System Reviews.

  • Identify important concepts related to evaluating various functional elements from Statements on Quality Control Standards (SQCS).
  • Use appropriate peer review checklists to document considerations related to the evaluation of a firm’s design, and compliance with its system of quality control.
  • Determine appropriate procedures to perform in response to assessed risks in a firm’s system of quality control.

Speaker(s):
Standard: $49.00
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