CPE Session 34: Sunday, August 7, 1:00 PM – 4:00 PM
Independence and Nonaudit Engagements
Description/Objectives:
Impairment of Independence precludes a practitioner from issuing a review or audited report. Compilations are allowed only if the lack of independence is properly disclosed. Today’s small practitioner is often called upon to serve small businesses closely and often emulates or works closely with the controller. This relationship can lead to problems in maintaining independence. Literature mostly focuses on independence in auditing but doesn’t often address the problems of independence for small engagements. This seminar will focus on potential risks to practitioners, recognizing potential problem areas and developing awareness of independence issues in order to avoid inadvertent breaches of the standards and ethical rulings.
Format/Structure:
Lecture, detailed handout material.
Intended Audience:
Accounting and auditing instructors, practitioners.
Presenter:
Kenneth Heaslip, Kean University
* Denotes special requirements or prerequisite
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