Organizations worldwide are facing a variety of challenges due to continued pandemic fallout, changing regulatory landscape, uncertain economy, cybersecurity risk, and more. There are a variety of nonaudit services that public accountants can provide to clients to assist them in satisfying a variety of objectives related to financial reporting, operations, compliance, and strategy. This course will provide highlights of a variety of common professional service options to help clients satisfy their needs.
Course ID: NONAUDIT
Nonaudit Services That Help Your Clients Face Today’s Challenges
Learning Objectives
- List nonaudit services that clients may find useful in today’s world, resulting from needs driven by the economic fallout from the pandemic, changing regulations, financing, third party comfort, and more.
- Describe the differing objective of various levels of nonaudit services, including readiness consulting, internal audit assistance, agreed-upon procedures, reviews, and examinations.
- Explain professional and technical standards available for successful performance of a wide variety of useful nonaudit services.
Major Topics
- General guidance for providing quality nonattest services, such as consulting, internal audit assistance, and other engagements that do not provide any form of assurance or conclusion.
- Agreed-Upon Procedures engagements under SSAE No. 19, and how they may be used to help with loan forgiveness requests and other contractual or regulatory filings.
- Assisting clients with preparing or evaluating subject matters other than historical financial statements, including prospective financial information.
- The value of Service Organization Control (SOC) engagements in evaluating an entity’s ability to manage financial reporting and cybersecurity risks, including SOC1, SOC2, and SOC3 reporting options.
- How the SSARSs and the SSAEs can be used to satisfy a client’s needs for third party comfort or other stakeholder interests.
Advanced Preparations
None
Who Should Attend
Anyone interested in the resources available to public accountants for providing nonaudit services to clients.
Fields of Study
AuditingPrerequisites
None