Public Company Auditing Update Self-Study Webinar
Overview
Public company auditing standards and regulatory expectations continue to evolve as the PCAOB increases focus on audit quality, technology-enabled procedures, documentation, firm quality control systems, and emerging applications of technology and AI in the audit process. This self-study webinar provides a practical update on recent PCAOB developments, including inspection trends, common deficiency findings, newly adopted standards, and emerging rulemaking initiatives affecting auditors of public companies and broker-dealers. Participants will discover:
- Recent PCAOB developments, inspection trends, and recurring audit deficiency findings
- New and proposed PCAOB standards affecting audit documentation, audit evidence, confirmations, and technology-assisted procedures
- Practical considerations for strengthening audit quality, compliance, and quality control processes
Objective
To provide CPAs and other finance professionals with a practical update on current PCAOB standards, inspection findings, and regulatory developments, enabling them to better understand evolving audit requirements, assess compliance risks, and strengthen audit quality and documentation practices.
DETAILED LEARNING OBJECTIVES
• Identify proposed legislative changes affecting the PCAOB’s structure and oversight responsibilities
• Recognize recent PCAOB leadership and governance changes
• Identify common audit deficiency areas highlighted in recent PCAOB inspection reports
• Understand PCAOB inspection selection priorities related to economic and geopolitical risks
• Recognize new auditor confirmation requirements under PCAOB standard AS 2310
• Understand the risk-based approach required under the PCAOB’s new Quality Control standard
• Identify key changes to auditor responsibilities and documentation timelines under PCAOB standard AS 1000
• Understand proposed PCAOB requirements related to noncompliance with laws and regulations (NOCLAR)
• Recognize proposed updates to substantive analytical procedures to reflect risk assessment and technology use
• Identify common themes in recent PCAOB enforcement actions and sanctions
Emphasis
- PCAOB changes and updates:
– Staff changes
– Budget approvals - PCAOB inspection results:
– Inspections by selection method
– Audit inspections by industry
– Audit deficiency findings
– Common PCAOB deficiencies for brokers and dealers - PCAOB inspection areas of focus in the current inspection cycle
- New PCAOB standards and rules:
– AS 1215: audit documentation
– AS 2310: confirmation process
– Designing and performing audit procedures that involve technology-assisted analysis of information in electronic form
– AS 1105: audit evidence
– New quality control standard - Newly proposed amendments to existing PCAOB standards and rules
- Recent regulatory actions and sanctions by the PCAOB
- QC 1000 implementation developments
- Technology-assisted auditing and emerging AI considerations
Speakers
Zohaib Qamar, Partner, Citrin Cooperman & Company LLP
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