Upholding Independence While Holding Your Client's Hand

Overview

Many entities look to their CPA as a trusted advisor when tackling complex accounting topics. This is more relevant now than ever. The FASB's big three accounting pronouncements involving revenue recognition, leasing and credit losses have placed a magnifying glass on this reality. Practitioners need to exercise caution to ensure they maintain independence as they assist their review and audit clients with such matters, as well as with compilation engagements. This course addresses these issues and explores best practices and guidance provided by the AICPA's Code of Professional Conduct.

Objectives

• Apply key strategies in maintaining independence in client engagements
• Understand the AICPA's Code of Professional Conduct
• Assess circumstances that threaten independence
• Identify safeguards may can reduce independence threats to an acceptable level

Highlights

• Circumstances that may cause recent FASB pronouncements to introduce threats to independence
• AICP's Code of Professional Conduct
• Best practice tips and practical strategies for preserving independence when assisting clients with technical matters