In-House CPE Planner - Checkpoint Learning
CHECKPOINT LEARNING® 2015 In-House CPE Planner On-Site Customized Seminars and Other In-House Training Solutions CHECKPOINT LEARNING® 2015 IN-HOUSE CPE PLANNER On-Site Customized Seminars and Other In-House Training Solutions Copyright © 2015 Thomson Reuters All Rights Reserved PRINTED IN THE UNITED STATES OF AMERICA Dear CPE Decision Maker, At Thomson Reuters, we are dedicated to developing new and relevant in-house training solutions that offer practical guidance on issues important to professionals. We are also committed to providing cost efficient training options that meet the needs of our valued customers. In keeping with this philosophy, I would like to highlight several key products described in the 2015 In-House Planner. AuditWatch University AuditWatch University is an integrated development curriculum designed toward promoting the professional growth of your auditing staff. Since 2002, AuditWatch University has helped thousands of audit professionals, and their auditing firms, achieve new levels of client service and satisfaction. All of our instructors are “hands-on” experts who teach practical, relevant and innovative material in an engaging and easy-to-follow manner. Starting with Basic Staff Training and culminating with senior management level courses, AuditWatch University offers seven progressive levels of training. TaxWatch University TaxWatch University promotes the professional growth of your tax staff. The progressive levels of training begin with an entry-level program that focuses on individual tax returns, and conclude with an advanced program that focuses on complex tax issues and management skills training. This integrated tax curriculum is based on the widely respected instructional design model you have experienced with AuditWatch University. Yellow Book University This four day university program includes one day focusing on Auditing Nonprofit Organizations and Governmental Entities, a second day covering Performing Efficient and Effective Single Audits, a third day focusing on government and nonprofit accounting and auditing updates and the final day which takes a look at advanced issues in government and nonprofit entities. With this four-day series, you can choose to schedule all four days or just the sessions that are most important to you. PPC’s Federal Tax Update Learn how the laws impact employers and individual taxpayers in this year’s edition of the most highly attended tax update in the country! Get practical insights and comprehensive coverage on the latest developments affecting individuals, partnerships, C corporations, S corporations, estates, and trusts. AuditWatch Accounting and Auditing Update A customizable accounting and auditing update where we work with your firm to select and cover the areas of focus YOU choose. Web-Based New Hire Training AuditWatch University now includes a series of AuditWatch University Level 1 modules designed for new auditors and delivered on WebEx, a web-based, interactive learning platform. Materials Only Options Our seminars can be tailored to your needs. Simply choose an existing course or customize your own seminar from two-and four-hour modules covering a variety of topics. Or choose Checkpoint Learning® In-House Seminars Materials Only Options. We provide the instructor manual, PowerPoint package and participant manuals, you provide the instructor. Webinars Presented Exclusively to Your Firm As you plan your professional development program for 2015, take a look at the attached webinar title list. It includes over 250 webinar topics such as Customizable Accounting and Auditing Updates (we work with your firm to select and cover the areas of focus YOU choose) Quarterly SEC/PCAOB Updates Over 35 Yellow Book webinars including a new case study series Close to 100 tax topics including everything from complex partnership issues to the latest implementation advice on Healthcare Reform Audit Efficiency Programs and guidance from the efficiency experts at AuditWatch Soft Skill and Leadership topics Tax Updates Our webinars can be delivered on the platform of your choice. Be it WebEx, LearnLive or another platform, our instructors and moderators offer you world class content, subject matter expertise and a professional webinar experience. Programs are delivered privately to your firm and are fully customizable. Current, relevant course content from the industry's leading publisher; affordable, customized, onsite training; highly rated instructors; flexible formats; it's all part of the Thomson Reuters InHouse training solution. Please call me at (800) 387-1120 to discuss your training needs. I welcome the opportunity to talk to you about a training solution that's right for your firm. Best regards, Barbara Marino Senior Director, In-House CPE and Business Development, Learning Solutions Thomson Reuters P.S. Be sure to read about the AuditWatch Productivity Solution and AuditWatch Consulting Service completely customizable for your firm! See Page 101 for details. 2015In‐HouseCPEPlanner TableofContents ACCOUNTING AND AUDITING The AuditWatch Accounting and Auditing Update (AWACO) ...............................................9 Mastering the Basics of Data Extraction Software (AWPM) .................................................11 Spotting Opportunities to Use Data Extraction Software (AWPSO) .....................................12 Performing Compilation and Review Engagements (CRIF) ..................................................13 Professional Ethics for Accountants (ETHF) ..........................................................................15 Financial Reporting and Disclosures for Small Businesses (FRDF) ......................................17 Audits of Employee Benefit Plans Using the PPC Audit Approach (GBPF) .........................19 Performing Efficient Audits of Nonpublic Companies Using the PPC Approach (GRNF) .........................................................................................21 Best Practices In Utilizing PPC SMART Tools: Key Issues in Risk Assessment (GRSF) ....23 Evaluating and Testing Internal Controls with PPC SMART Practice Aids- Internal Control (ICAF) ................................................25 Evaluating and Testing Internal Controls (ICCF) ...................................................................27 Analytical Procedures (PROF) ...............................................................................................29 Sampling: Where, When and How (SAMF) ...........................................................................31 TAXATION Business Entities Tax Update (BETF) ....................................................................................33 PPC’s Federal Tax Update (PTUF) ........................................................................................35 1040 Individual Tax Update (T40F) .......................................................................................37 YELLOW BOOK Effective HUD Audits (HUDF) ..............................................................................................39 Yellow Book University Day 1: Auditing Nonprofit Organizations and Governmental Entities (AWANO) .............................................................................42 Yellow Book University Day 2: Performing Effective and Efficient Single Audits (AWSAO) .............................................................................44 Yellow Book University Day 3: Government and Nonprofit Update (AWGUO)..................46 Yellow Book University Day 4: Auditing Nonprofit Organizations and Governmental Entities – Advanced Topics (AWADO) .............................................48 AUDITWATCH UNIVERSITY AuditWatch University – Level 1: Basic Staff Training (AWO1) ..........................................51 AuditWatch University – Level 2: Experienced Staff Training (AWO2) ...............................53 AuditWatch University – Level 3: Beginning In-Charge Training (AWO3) ..........................55 AuditWatch University – Level 4: Experienced In-Charge Training (AWO4) .......................57 AuditWatch University – Level 4.5: Beyond In-Charge, “Taking the Next Step” (AWO45) ..............................................................................59 AuditWatch University – Level 5: Moving Beyond In-Charge, “Taking the Lead” (AWO5) ........................................................................................61 AuditWatch University – Level 6: Developing the Executive Within (AWO6) .....................63 Web-Based New Hire Training................................................................................................65 TAXWATCH UNIVERSITY TaxWatch University Tax Staff Training—Level 1 (TX1F) ..................................................67 TaxWatch University Tax Staff Training—Level 2 (TX2F) ..................................................69 TaxWatch University Tax Staff Training—Level 3 (TX3F) ..................................................71 TaxWatch University Tax Staff Training—Level 4 (TX4F) ..................................................73 TaxWatch University Tax Staff Training—Level 5 (TX5F) ..................................................75 COURSE MODULES Current Developments in Accounting and Auditing (AAMF) ...............................................77 Audit Sampling (ASMF) .........................................................................................................78 Advanced Topics in Auditing Governmental Entities (AUGF) ..............................................79 Advanced Topics in Auditing Nonprofit Organizations (AUNF) ..........................................80 Key Issues in Compilation and Review Engagements (CRMF) .............................................81 Professional Ethics for Accountants—Selected Topics (ETMF) ...........................................82 FASB Update (FAMF) ...........................................................................................................83 Financial Statement Disclosures (FSMF) ...............................................................................84 Governmental Accounting and Auditing Update (GVMF) ....................................................85 Nonprofit Accounting and Auditing Update (NPMF) ............................................................86 INSTRUCTOR BIOS ..........................................................................................................................87 GENERAL INFORMATION ..............................................................................................................97 PRICE LIST ........................................................................................................................................99 CHECKPOINT LEARNING® AUDITWATCH TRAINING SOLUTIONS THE AUDITWATCH ACCOUNTING AND AUDITING UPDATE AWACO In this course we deliver what you need to know about newly issued authoritative pronouncements of the FASB and AICPA – along with other developments of interest to practitioners serving small- and middle-market businesses. Course material is updated throughout the year so it is always current. We tailor the discussion to your firm by reviewing the agenda with you and focusing on those items most relevant to your practice. In addition we can work with you to customize the course content by removing topics you don’t want to cover and including topics that go beyond the accounting and auditing update. LEARNING OBJECTIVE: This session will enable the participant to apply selected newly issued and effective technical accounting and auditing pronouncements and advise companies on related implementation issues. COURSE FEATURES: Technical content delivered in an engaging way; encouraging participant questions and interaction Discussion questions, exercises, and illustrative examples Content updated throughout the year Customizable content – including the option to include topics the beyond usual A&A update Inclusion of hot topics and practice issues DESIGNED FOR: Accountants in public practice, industry, and education who need a comprehensive review of recently issued or effective authoritative pronouncements. REQUIRED KNOWLEDGE AND EXPERIENCE: Accountants in public practice, industry, and education who need a comprehensive review of recently issued or effective authoritative pronouncements. COURSE TYPE: Seminar COURSE LENGTH: 1 day ADVANCED PREP: None RECOMMENDED CPE CREDIT: 8 hrs. COURSE LEVEL: Update FIELD OF STUDY: Accounting; Auditing cl.thomsonreuters.com/A 800.387.1120 9 The AuditWatch Accounting and Auditing Update AWACO MAJOR TOPICS: The topics discussed - and depth of coverage - depend on the activities of the FASB, AICPA and others. Likely topics in 2015 include the following: Accounting Update ASU’s related to private company options; including goodwill, interest rate swaps, variable-interest entities, and intangible assets Recently issued or soon-to-be effective ASUs; including those related to discontinued operations, consolidations, going concern and many others FASB’s significant new standard on Revenue From Contracts With Customers; note that this topic can be presented as a short overview or as an in-depth analysis Significant exposure drafts AICPA Update SSARS 21 – the clarified standards related to compilations, reviews and the new financial statement preparation service Recently issued and recently effective auditing standards and exposure drafts Technical Q&A Practice Issues Common peer review matters Results of recent fraud studies or fraud cases Others Optional Topics We can customize this course for your firm by including topics beyond the A&A update; including Key issues in audit productivity Improving analytical procedures Audit sampling Engagement management Audit documentation Audit planning Leadership Supervision and feedback Others cl.thomsonreuters.com/A 800.387.1120 10 CHECKPOINT LEARNING® AUDITWATCH TRAINING SOLUTIONS MASTERING THE BASICS OF DATA EXTRACTION SOFTWARE AWPM This hands-on computer course is for new users of data extraction software and those who want to review basic and intermediate software functions. COURSE FEATURES: Master the key commands and functions of IDEA software Identify numerous applications of the software Obtain and import basic and complex data files typically received from clients Learn how to incorporate the software’s usage in your engagement planning Understand the software’s reporting features and workpaper assistance tools Use software driven results to make audit conclusions COURSE TYPE: Seminar COURSE LENGTH: 2 days ADVANCED PREP: None RECOMMENDED CPE CREDIT: 16 hrs. COURSE LEVEL: Basic FIELD OF STUDY: Auditing, 8 hrs.; Specialized Knowledge and Application, 8 hrs. cl.thomsonreuters.com/A 800.387.1120 11 CHECKPOINT LEARNING® AUDITWATCH TRAINING SOLUTIONS SPOTTING OPPORTUNITIES TO USE DATA EXTRACTION SOFTWARE AWPSO Ideal for firms seeking to expand their use of data extraction based procedures. This course helps engagement decision makers recognize situations where their teams can use data extraction to improve quality and efficiency. This is not a computer-based class. COURSE FEATURES: Assess the cost-benefit of using data extraction software on specific engagements Identify basic and creative uses of the software (including the latest innovative applications to help comply with emerging audit standards) Interpret, document, and communicate results to clients Identify ways to use data extraction software as a marketing tool to prospective clients COURSE LENGTH: 4 hrs. ADVANCED PREP: None RECOMMENDED CPE CREDIT: 4 hrs. COURSE LEVEL: Overview FIELD OF STUDY: Auditing cl.thomsonreuters.com/A 800.387.1120 12 CHECKPOINT LEARNING® IN-HOUSE SEMINARS COMPILATION AND REVIEW INSIGHTS – TIMELY ADVICE FOR IMPROVING QUALITY AND EFFICIENCY CRIF This course outlines the requirements for completing compilation and review engagements, performing them more effectively, and responding to special situations. LEARNING OBJECTIVES: Better execute considerations in acceptance and continuation Consider materiality Better understand and execute compilation procedures Better understand and execute review procedures Adapt for clients who report under a Special Purpose Framework / OCBOA COURSE FEATURES: Covers most recent SSARS standards Responsibility for fraud, internal control, and going concern in compilation and review engagements Client communications in compilation and review engagements Improving analytical procedures in review engagements Adapting for Special Purpose Framework engagements Reporting standards DESIGNED FOR: Accountants in public practice who want to increase their quality and efficiency in compilation and review engagements. REQUIRED KNOWLEDGE AND EXPERIENCE: Basic knowledge and experience preparing compilation and review engagements. COURSE TYPE: Seminar COURSE LENGTH: 1 day ADVANCED PREP: None RECOMMENDED CPE CREDIT: 8 hrs. COURSE LEVEL: Intermediate FIELD OF STUDY: Accounting cl.thomsonreuters.com/A 800.387.1120 13 Compilation and Review Insights – Timely Advice For Improving Quality And Efficiency CRIF MAJOR TOPICS: ENGAGEMENT ADMINISTRATION Acceptance and continuation Engagement letters Independence considerations Materiality considerations PERFORMING EFFICIENT COMPILATION ENGAGEMENTS Definition of compilation Compilation procedures Documentation requirements Reporting PERFORMING EFFICIENT REVIEW ENGAGEMENTS Definition of review Review procedures, including inquiries and analytical procedures Documentation requirements Representation letters Reporting ADAPTING FOR SPECIAL PURPOSE FRAMEWORKS / OCBOA Types of Special Purpose Frameworks / OCBOA, including the AICPA’s Financial Reporting Framework for Small and Medium-sized Entities Adapting to special purpose frameworks / OCBOA Form of special purpose frameworks financial statements Common mistakes when compiling and reviewing special purpose framework financial statements cl.thomsonreuters.com/A 800.387.1120 14 CHECKPOINT LEARNING® IN-HOUSE SEMINARS PROFESSIONAL ETHICS FOR ACCOUNTANTS ETHF It's a Matter of Integrity: Ethics in accounting is of utmost importance to accounting professionals and to those who rely on their services. CPAs and other accounting professionals know that people who use their services expect them to be competent, reliable, and objective. This seminar provides an overview of the ethics requirements of the AICPA, IRS, GAO, SEC/PCAOB and IFAC. Using a model of ethical decision-making, the session will apply the current code of professional conduct to independence, client services, and regulatory reporting to a variety of short case studies which are based upon actions taken by the AICPA and other regulators. LEARNING OBJECTIVE: To enable participants to implement an ethical decision-making process to resolve moral issues in business. COURSE FEATURES: Definitions of morality and ethics Ethics and ethical behavior in business decision-making The moral decision-making process and leadership ethics Establishing and enforcing a general code of business conduct and ethics Professional business ethics for accountants Review of the AICPA Code of Conduct Latest ethics pronouncements from the AICPA, IRS, GAO, SEC/PCAOB, and IFAC Case studies DESIGNED FOR: CPAs and individuals at all organizations and at all organizational levels. REQUIRED KNOWLEDGE AND EXPERIENCE: None. COURSE TYPE: Seminar COURSE LENGTH: 1 day ADVANCED PREP: None RECOMMENDED CPE CREDIT: 8 hrs. COURSE LEVEL: Basic FIELD OF STUDY: Regulatory Ethics, 4 hrs.; Behavioral Ethics, 4 hrs. cl.thomsonreuters.com/A 800.387.1120 15 Professional Ethics for Accountants ETHF MAJOR TOPICS: ETHICS AND ETHICAL BEHAVIOR IN BUSINESS Ethics defined Professional business ethics for accountants The AICPA ethics program THE AICPA CODE OF PROFESSIONAL CONDUCT MAKING BETTER DECISIONS IN A BUSINESS ENVIRONMENT Analyzing the decision process Making ethical business decisions ESTABLISHING A GENERAL CODE OF BUSINESS CONDUCT AND ETHICS Protecting company assets and resources Conflicts of interest Confidential information Accuracy of records and information reporting REVIEW OF CURRENT ETHICS STANDARDS AICPA independence standards Recent AICPA rules and proposals IRS tax preparer rules GAO independence standards SEC/PCAOB enforcement actions IFAC Code of Ethics CASE STUDIES cl.thomsonreuters.com/A 800.387.1120 16 CHECKPOINT LEARNING® IN-HOUSE SEMINARS FINANCIAL REPORTING AND DISCLOSURES FOR SMALL BUSINESSES FRDF This course provides an overview of standards related to financial statements and financial statement disclosures. This course discusses the statements of financial position, statement of operations, statement of comprehensive income, statement of cash flows, statement of stockholders’ equity, and notes, under both GAAP and Special Purpose Framework bases of accounting. LEARNING OBJECTIVE: To enable participants to efficiently and effectively prepare financial statements in accordance with GAAP and Special Purpose Framework bases of accounting. COURSE FEATURES: A review of standards applicable to the preparation and presentation of financial statements A discussion of form and style considerations A detailed review of classification, measurement and presentation issues specific to accounts in each of the basic financial statements A review of disclosures necessary to ensure presentation in conformity with GAAP A discussion of the issues associated with the presentation of supplementary information A discussion of reporting on Special Purpose Frameworks bases of accounting DESIGNED FOR: Accountants in public practice and industry who need to gain an understanding of the basic financial statements; including basic measurement and presentation for common financial statement line items. REQUIRED KNOWLEDGE AND EXPERIENCE: Accountants who are new to or have limited experience with the preparation of basic financial statements. COURSE TYPE: Seminar COURSE LENGTH: 1 day ADVANCED PREP: None RECOMMENDED CPE CREDIT: 8 hrs. COURSE LEVEL: Basic FIELD OF STUDY: Accounting cl.thomsonreuters.com/A 800.387.1120 17 Financial Reporting and Disclosures for Small Businesses FRDF MAJOR TOPICS: OVERVIEW OF STANDARDS GOVERNING PREPARATION AND PRESENTATION Introduction to GAAP, GAAS requirements, and quality control GAAP Performance standards Reporting standards Quality control standards Ethical standards FORM AND STYLE CONSIDERATIONS Standardization Presentation considerations CLASSIFICATION, MEASUREMENT AND PRESENTATION CONSIDERATIONS The balance sheet The statement of income Statements of retained earnings, stockholders’ equity and comprehensive income The statement of cash flows DISCLOSURE ISSUES Determining necessary disclosures Significant accounting policies Common problems in preparing disclosures Risks and uncertainties SUPPLEMENTARY INFORMATION Basic statements vs. supplementary information Practical guidelines SPECIAL PURPOSE FRAMEWORKS Reporting on Special Purpose Framework statements cl.thomsonreuters.com/A 800.387.1120 18 CHECKPOINT LEARNING® IN-HOUSE SEMINARS AUDITS OF EMPLOYEE BENEFIT PLANS USING THE PPC AUDIT APPROACH GBPF Regulators are concerned about compliance with DOL and IRS regulations - not just traditional financial statement reporting. Therefore, auditors need to focus on two issues: (1) what constitutes noncompliance and how noncompliance might occur; and (2) what the auditor is required to test to determine if there is noncompliance. This seminar provides an in-depth review of ERISA regulations and at the same time designs an efficient compliance audit methodology for those rules. Identify the changes related to the Clarity Project which have been incorporated in the AICPA Audit and Accounting Guide: Employee Benefit Plans. Learn what auditors forget to do when examining contributions, distributions, participant data, investments, and prohibited transactions. LEARNING OBJECTIVE: To audit employee benefit plans in compliance with DOL and AICPA standards. COURSE FEATURES: Latest ERISA, DOL, and IRS regulations AICPA update: use of service organizations, AICPA Code of Conduct, new COSO framework Unique audit issues for benefit plans: contributions, investments, participant data, distributions, fraud, and prohibited transactions DESIGNED FOR: Accountants in public practice and industry that want to increase their effectiveness in auditing employee benefit plans. REQUIRED KNOWLEDGE AND EXPERIENCE: Basic knowledge and experience auditing employee benefit plans. COURSE TYPE: Seminar COURSE LENGTH: 1 day ADVANCED PREP: None RECOMMENDED CPE CREDIT: 8 hrs. COURSE LEVEL: Intermediate FIELD OF STUDY: Auditing cl.thomsonreuters.com/A 800.387.1120 19 Audits of Employee Benefit Plans Using the PPC Audit Approach GBPF MAJOR TOPICS: ERISA RULES Reporting to the DOL and IRS Participant notices Rules regarding plan design features Employee Plans Compliance Resolution System REGULATORY UPDATE 2014 plan year compliance requirements Latest guidance from ERISA, DOL, IRS Current audit issues AICPA UPDATE Liquidation basis of accounting AICPA Code of Conduct COSO Framework Use of service organizations SPECIAL AUDIT PROBLEMS What auditors forget to test Fraud Contributions received and receivable Investments Participant data Benefit payments Benefit obligations Prohibited transactions Limited scope audits AICPA Quality Control findings cl.thomsonreuters.com/A 800.387.1120 20 CHECKPOINT LEARNING® IN-HOUSE SEMINARS PERFORMING EFFICIENT AUDITS OF NONPUBLIC COMPANIES USING THE PPC AUDIT APPROACH GRNF This course provides practical guidance on how to conduct efficient and effective audits of small businesses using PPC’s Guide to Audits of Nonpublic Companies. The course highlights the latest implementation guidance from standard setters and best practices using the current PPC practice aids. Major topics include: risk assessment, formulating the audit strategy, audit planning, evaluating and testing internal controls, designing and performing further audit procedures, audit sampling, and documentation. This course may also be purchased with advanced workpaper review allowing the instructor to focus on topics having the greatest potential benefit. LEARNING OBJECTIVE: To enable participants to effectively use PPC’s Guide to Audits of Nonpublic Companies. COURSE FEATURES: Risk assessment standards Audit strategy and audit plan Testing and evaluating internal controls Designing and performing further audit procedures Sampling Audit documentation DESIGNED FOR: Auditors of all levels using the PPC methodology REQUIRED KNOWLEDGE AND EXPERIENCE: Basic audit knowledge and experience COURSE TYPE: Seminar COURSE LENGTH: 1 day ADVANCED PREP: None RECOMMENDED CPE CREDIT: 8 hrs. COURSE LEVEL: Intermediate FIELD OF STUDY: Auditing cl.thomsonreuters.com/A 800.387.1120 21 Performing Efficient Audits of Nonpublic Companies Using the PPC Audit Approach MAJOR TOPICS: OVERVIEW Understanding the audit process Understanding the PPC methodology RISK ASSESSMENT PROCEDURES AND PLANNING Understanding the entity and its environment Understanding internal control—entity level and activity level controls Inquiries, observations, inspections, and analytical procedures Planning decisions and judgments Consideration of materiality Consideration of fraud Developing an overall audit strategy Documentation of risk assessment procedures and planning ASSESSING RISK AND DEVELOPING THE DETAILED AUDIT PLAN Identifying risk of material misstatement at the relevant assertion level Assessing risk of material misstatement at the relevant assertion level Considering fraud risk factors Significant audit risks Responding to the risk assessment and preparing the detailed audit plan Substantive analytical procedures and substantive tests of details Documentation of identified risks and the risk assessment TESTING INTERNAL CONTROLS Determining whether to test controls Selecting appropriate tests of controls Performing tests of controls Sampling for tests of controls Evaluating tests of controls and assessing control risk Documentation requirements THE EXTENT QUESTION Planning the extent of substantive tests Requirements that apply to all substantive samples Sampling for substantive tests of details Practice issues in evaluation of sample results cl.thomsonreuters.com/A 800.387.1120 22 GRNF CHECKPOINT LEARNING® IN-HOUSE SEMINARS BEST PRACTICES IN UTILIZING PPC SMART TOOLS: KEY ISSUES IN RISK ASSESSMENT GRSF This course provides best practices for using PPC SMART Practice Aids - Risk Assessment to efficiently complete and document risk assessment procedures. The course blends practical discussions on best practices for performing risk assessment procedures with how to use the PPC SMART Practice Aids software to its fullest. The course focuses on obtaining and documenting an understanding of the entity (including internal controls), identifying, assessing and documenting risks, and creating tailored audit programs. LEARNING OBJECTIVE: To enable participants to efficiently and effectively complete and document risk assessment procedures using the PPC SMART Practice Aids – Risk Assessment. COURSE FEATURES: PPC SMART Practice Aids Obtaining and documenting an understanding of the entity Obtaining and documenting a top-down, risk-based approach to internal controls Identifying and assessing risk Tailoring audit programs DESIGNED FOR: Individuals completing or managing audit engagements utilizing PPC SMART Practice Aids – Risk Assessment. REQUIRED KNOWLEDGE AND EXPERIENCE: Knowledge and experience in risk-based auditing. COURSE TYPE: Seminar COURSE LENGTH: 1 day ADVANCED PREP: None RECOMMENDED CPE CREDIT: 8 hrs. COURSE LEVEL: Intermediate FIELD OF STUDY: Auditing cl.thomsonreuters.com/A 800.387.1120 23 Best Practices in Utilizing PPC Smart Tools: Key Issues In Risk Assessment GRSF MAJOR TOPICS: RISK ASSESSMENT PROCEDURES Performing efficient and integrated risk assessment procedures Applying a top-down, risk-based approach to internal controls Identifying and documenting risks of material misstatement Classifying and documenting risks Tips and best practices RISK ASSESSMENTS Team meetings to determine and assess risks and develop responses Documenting inherent, control, significant, fraud, and other risks of material misstatement Tips and best practices CREATING TAILORED AUDIT PROGRAMS Customizing audit procedures at the assertion level Ensuring linkage between risk assessment and planned procedures Tips and best practices cl.thomsonreuters.com/A 800.387.1120 24 CHECKPOINT LEARNING® IN-HOUSE SEMINARS EVALUATING AND TESTING INTERNAL CONTROLS WITH PPC’S SMART PRACTICE AIDS – INTERNAL CONTROL ICAF This course is designed to help auditors increase their efficiency and effectiveness by applying a top-down, risk-based approach to internal controls utilizing PPC’s SMART Practice Aids – Internal Control software. The course addresses when it makes sense to test controls, how to perform and evaluate those tests and how the testing affects substantive audit procedures. LEARNING OBJECTIVE: To enable participants to apply a top-down, risk-based approach to obtaining an understanding of internal controls and to perform tests of a client's internal controls using PPC's SMART Practice Aids. COURSE FEATURES: PPC SMART Practice Aids Applying a top-down, risk-based approach to obtaining an understanding of internal controls Testing the operating effectiveness of internal controls Documentation of procedures DESIGNED FOR: Auditors with responsibilities for designing or executing internal control-related work on audit engagements. REQUIRED KNOWLEDGE AND EXPERIENCE: Knowledge and experience in risk-based auditing. COURSE TYPE: Seminar COURSE LENGTH: 1 day ADVANCED PREP: None RECOMMENDED CPE CREDIT: 8 hrs. COURSE LEVEL: Intermediate FIELD OF STUDY: Auditing cl.thomsonreuters.com/A 800.387.1120 25 Evaluating & Testing Internal Controls with PPC’s Smart Practice Aids- Internal Control MAJOR TOPICS: OVERVIEW OF AUDIT REQUIRMENTS Evaluation of design effectiveness Verification of implementation OBTAINING AN UNDERSTANDING OF CONTROLS Top-down, risk-based approach Evaluating entity and activity level controls Verifying implementation of entity and activity level controls Tips and best practices TESTING OPERATING EFFECTIVENESS When and why testing operating effectiveness of key controls makes sense Testing operating effectiveness Evaluating the results TIPS AND BEST PRACTICES cl.thomsonreuters.com/A 800.387.1120 26 ICAF CHECKPOINT LEARNING® IN-HOUSE SEMINARS EVALUATING AND TESTING INTERNAL CONTROLS ICCF Do you feel that your approach to obtaining an understanding of your client’s internal controls is not as efficient or effective as it could be? This course is designed to help auditors increase their efficiency and effectiveness by applying a top down, riskbased approach to internal controls. The course includes interactive case studies designed to practice the various steps of a top-down, risk-based approach. The course also addresses when it makes sense to test controls, how to perform and evaluate those tests and how the testing impacts your substantive audit procedures. LEARNING OBJECTIVE: To enable participants to apply a top-down, risk-based approach to obtaining an understanding of internal controls and to perform tests of a client's internal controls. COURSE FEATURES: Applying a top-down, risk-based approach to obtaining an understanding of internal controls Testing the operating effectiveness of internal controls Documentation of procedures Case studies and in-depth exercises DESIGNED FOR: Auditors with responsibilities for designing or executing internal control-related work on audit engagements. REQUIRED KNOWLEDGE AND EXPERIENCE: Knowledge and experience in risk-based auditing. COURSE TYPE: Seminar COURSE LENGTH: 1 day ADVANCED PREP: None RECOMMENDED CPE CREDIT: 8 hrs. COURSE LEVEL: Intermediate FIELD OF STUDY: Auditing cl.thomsonreuters.com/A 800.387.1120 27 Evaluating and Testing Internal Controls ICCF MAJOR TOPICS: OVERVIEW OF AUDIT REQUIREMENTS Evaluation of design effectiveness Verification of implementation OBTAINING AN UNDERSTANDING OF CONTROLS Top-down, risk-based approach Evaluating entity and activity level controls Verifying implementation of entity and activity level controls Tips and best practices TESTING OPERATING EFFECTIVENESS When and why testing operating effectiveness of key controls makes sense Testing operating effectiveness Evaluating the results TIPS AND BEST PRACTICES cl.thomsonreuters.com/A 800.387.1120 28 CHECKPOINT LEARNING® IN-HOUSE SEMINARS ANALYTICAL PROCEDURES PROF Analytical procedures are powerful tools in planning and performing audits and review engagements. In many cases, they provide greater assurance and are more efficient than tests of details. This course helps accountants take full advantage of the power of analytical procedures by providing guidance on developing and applying appropriate and effective analytical procedures in GAAS audits and SSARS reviews. LEARNING OBJECTIVE: To enable participants to effectively and efficiently apply analytical procedures. COURSE FEATURES: Overview of the concepts underlying analytical procedures Improve analytical procedures through better expectations, corroboration and levels of precision Deal with differences from expectations Discuss practical applications via detailed case studies DESIGNED FOR: This course is appropriate for any member of an engagement team who designs or performs analytical procedures on audit or review engagements. REQUIRED KNOWLEDGE AND EXPERIENCE: Knowledge or experience in GAAS audits or SSARS reviews. COURSE TYPE: Seminar COURSE LENGTH: 1 day ADVANCED PREP: None RECOMMENDED CPE CREDIT: 8 hrs. COURSE LEVEL: Intermediate FIELD OF STUDY: Auditing cl.thomsonreuters.com/A 800.387.1120 29 Analytical Procedures PROF MAJOR TOPICS: THE ROLE OF ANALYTICAL PROCEDURES IN AUDITS AND REVIEWS Benefits of analytical procedures Using analytical procedures in an audit Designing analytical procedures in a review Documenting the use of analytical procedures DEVELOPING EXPECTATIONS Sources for expectations Developing expectations DESIGN AND PRECISION Understanding and improving precision Considering the source of data and obtaining corroboration DEALING WITH DIFFERENCES FROM EXPECTATIONS Deciding when a difference should be investigated Considering the significance of a difference ILLUSTRATING THE USE OF ANALYTICAL PROCEDURES Analytical procedures in the planning and risk assessment phase of an audit Analytical procedures as substantive tests Analytical procedures in the overall review TIPS FOR IMPROVING SUBSTANTIVE ANALYTICAL PROCEDURES cl.thomsonreuters.com/A 800.387.1120 30 CHECKPOINT LEARNING® IN-HOUSE SEMINARS SAMPLING: WHERE, WHEN AND HOW SAMF This course explains the use of audit sampling in an audit. The course incorporates PPC practice aids, and is focused on the PPC approach to audit sampling in both substantive tests and tests of controls. It provides a solid understanding of basic and advanced sampling topics, while staying focused on practical issues and efficiency considerations. LEARNING OBJECTIVE: To enable participants to effectively and efficiently use audit sampling. COURSE FEATURES: Basic and advanced audit sampling topics Alternatives to audit sampling Sampling used to perform tests of controls Sampling in substantive tests PPC Practice aids Case studies DESIGNED FOR: Accountants who plan, perform or review audit tests using audit sampling. REQUIRED KNOWLEDGE AND EXPERIENCE: Participants should have basic auditing experience. COURSE TYPE: Seminar COURSE LENGTH: 1 day ADVANCED PREP: None RECOMMENDED CPE CREDIT: 8 hrs. COURSE LEVEL: Basic FIELD OF STUDY: Auditing cl.thomsonreuters.com/A 800.387.1120 31 Sampling: Where, When and How SAMF MAJOR TOPICS: INTRODUCTION TO AUDIT SAMPLING What is audit sampling? When is sampling appropriate? Alternatives to sampling and selecting appropriate tests Using PPC’s Planning Worksheet to Determine Extent of Substantive Tests SAMPLING FUNDAMENTALS The impact of risks in audit sampling Steps to sampling The factors that affect sample size and reliability SAMPLING IN TESTS OF CONTROLS Selecting controls to test and defining deviations Defining the period covered and the population Calculating the sample size (large and small populations) Selecting the sample items Evaluating exceptions and responding to deficiencies Evaluating results and the determining the appropriate level of control risk SAMPLING IN SUBSTANTIVE TESTS Defining the population and sampling unit Tolerable misstatement and individually significant items Inherent risk, control risk, and other procedures risk Calculating the sample size Selecting the sample items Evaluating sample results and determining the level of assurance achieved Using PPC’s tools to plan the sample and evaluate results cl.thomsonreuters.com/A 800.387.1120 32 CHECKPOINT LEARNING® IN-HOUSE SEMINARS BUSINESS ENTITIES TAX UPDATE BETF The 2015 Business Entities seminar will focus on providing practical advice for tax practitioners serving small business clients. This course will provide a review of new tax laws, court cases, IRS rulings and notices, and other developments. We will explore the advantages and disadvantages of C corporations, S corporations, limited liability companies, general partnerships, and limited partnerships (including limited liability and family limited partnerships). LEARNING OBJECTIVE: Identify recent changes in tax law and assess their impact on business entities. COURSE FEATURES: Examine the impact of the 2014 Tax Increase Prevention Act Discuss the final capitalization regulations affecting all taxpayers that acquire, produce, or improve property Analyze Form 3115 developments, including Rev. Proc. 2015-20 relief for small business taxpayers Assess implications of Notice 2013-54 affecting employer payment plans, and other healthcare arrangements (including transitional relief under Notice 2015-17) Representing a taxpayer in a worker reclassification audit Recent rulings and final regulations affecting S shareholder basis Evaluate developments in LLC member self-employment taxation DESIGNED FOR: Accountants wanting to know the latest changes in federal tax law affecting corporate taxation. REQUIRED KNOWLEDGE AND EXPERIENCE: Familiarity with corporate tax law. COURSE TYPE: Seminar COURSE LENGTH: 1 day ADVANCED PREP: None RECOMMENDED CPE CREDIT: 8 hrs. COURSE LEVEL: Update FIELD OF STUDY: Taxes cl.thomsonreuters.com/A 800.387.1120 33 Business Entities Tax Update BETF MAJOR TOPICS: New developments - recent changes in tax law Choosing the proper entity Forming a corporation General corporate items C Corporations Penalty Taxes: QPSC, AET, and PHC Sub-S Corporations S Corporation ownership of other entities Sub-S election and consent S Corporation income and expenses Shareholder basis Passive activity rules S Corporation taxes Distributions to shareholders Terminating S Corporation status Corporate sales and liquidations Overview of Sub-K—Partnership Introduction—Partnerships and Limited Liability Companies (LLCs) formation Partnership (or LLC) operations Transactions with partners (or members) Partnership termination, sale, retirement, or death (liquidation) cl.thomsonreuters.com/A 800.387.1120 34 CHECKPOINT LEARNING® IN-HOUSE SEMINARS PPC’S FEDERAL TAX UPDATE PTUF PPC’s Federal Tax Update covers the latest developments affecting individuals, partnerships, C corporations, S corporations, and estates and trusts, and is designed to keep you up-to-date in this dynamic environment. LEARNING OBJECTIVE: To provide participants with practical, working knowledge of the latest tax law changes that will enable effective tax planning, compliance, and consultation engagements during the coming year. COURSE FEATURES: New DVD instructional tool available for clients who purchase seminar as “materials only” Coverage of critical federal legislation Coverage of important Treasury regulations, IRS pronouncements, and judicial decisions issued during the past year Tax return preparation tips Tax planning ideas Numerous practice aids including real-life examples, worksheets, elections, and checklists DESIGNED FOR: Accountants in public practice and private industry who need to stay on top of the latest changes in the federal tax law, including legislation, IRS pronouncements, and judicial decisions issued during the past year. REQUIRED KNOWLEDGE AND EXPERIENCE: Participants should be familiar with federal tax issues for various entities. COURSE TYPE: Seminar COURSE LENGTH: 1 day ADVANCED PREP: None RECOMMENDED CPE CREDIT: 8 hrs. COURSE LEVEL: Update FIELD OF STUDY: Taxes cl.thomsonreuters.com/A 800.387.1120 35 PPC’s Federal Tax Update PTUF MAJOR TOPICS: INDIVIDUALS Income issues Deductions and losses Individual credits Filing matters BUSINESS ENTITIES C corporations and shareholders S corporations and shareholders Partnerships and partners REPAIRS AND CAPITALIZATION DEPRECIATION AND AMORTIZATION CREDITS HEALTH CARE REFORM AND WHAT THIS MEANS FOR INDIVIDUAL AND BOTH LARGE AND SMALL BUSINESS CLIENTS COMPENSATION ISSUES Retirement Plans Fringe Benefits SE and FICA issues TRUSTS AND ESTATES Gift tax ADMINISTRATIVE ISSUES IRS compliance matters *This course has a DVD instructional tool available for purchase for clients ordering this course as “materials only.” cl.thomsonreuters.com/A 800.387.1120 36 CHECKPOINT LEARNING® IN-HOUSE SEMINARS 1040 INDIVIDUAL TAX UPDATE T40F This comprehensive course covers key tax issues for completing a broad range of tax returns and covers all major aspects of income, deductions, and credits. This course is both a review and update. Topics include coverage of key legislation, court cases, rulings, procedures rulings and announcements. The course is updated to the date of the seminar and will provide you with the insight, practice tips and tools you need for the upcoming busy season. LEARNING OBJECTIVE: To enable the practitioner to competently prepare tax returns this upcoming busy season. COURSE FEATURES: Complete coverage of 2014 Tax Increase Prevention Act, including individual, business, energy and depreciation provisions Discuss new ABLE (“Achieving a Better Life Experience”) accounts for disabled taxpayers Discuss the final capitalization regulations affecting all taxpayers that acquire, produce, or improve property Analyze Form 3115 developments, including Rev. Proc. 2015-20 relief for small business taxpayers Evaluate developments and current case law – Schedule A deductions for home mortgage interest and charitable contributions Summarize penalty relief available for taxpayers who received excess advanced premium tax credits Discuss developments and current case law – passive activity losses and materially participating real estate professionals Changes to Circular 230 and an update of IRS fraud prevention measures Reporting foreign financial assets on Form 8938 and FBAR FinCen Report 114 Update on LLCs and Form 1099-MISC filing requirements Evaluate developments in LLC member self-employment taxation DESIGNED FOR: Practitioners who prepare or review individual income tax returns. REQUIRED KNOWLEDGE AND EXPERIENCE: Participants should be familiar with individual federal income tax issues. COURSE TYPE: Seminar COURSE LENGTH: 2 days ADVANCED PREP: None RECOMMENDED CPE CREDIT: 16 hrs. COURSE LEVEL: Update FIELD OF STUDY: Taxes cl.thomsonreuters.com/A 800.387.1120 37 1040 Individual Tax Update T40F MAJOR TOPICS: Healthcare reform New equipment regulations Depreciation Itemized deductions Adjustments to income Employee business expense Debt forgiveness Schedule C Self employment tax Independent contractor or employee Passive activities Casualty, disaster and theft losses Individual credits Business credits Alternative minimum tax Retirement accounts (contributions and distributions) Sale of a principal residence Filing status and dependents Divorce Pass-throughs Section 199 Education provisions Schedule H Interest and dividends cl.thomsonreuters.com/A 800.387.1120 38 CHECKPOINT LEARNING® IN-HOUSE SEMINARS EFFECTIVE HUD AUDITS HUDF This seminar provides the guidance on audits of for-profit and nonprofit multifamily projects that receive financial assistance from HUD. This course covers the 2013-14 revisions to the HUD Consolidated Audit Guide and the latest regulations from HUD as well as the changes required by the AICPA. Learn to prevent the common deficiencies in testing of controls and compliance with HUD and OMB regulations as reported by inspectors-general and peer review. LEARNING OBJECTIVE: To apply risk-based audit strategies to HUD compliance audits COURSE FEATURES: HUD programs Regulatory update: HUD, OMB, GAO, AICPA, FASB Risk assessment: compliance with laws and regulations Testing controls and compliance Sampling Required documentation Common engagement deficiencies Compliance reporting update DESIGNED FOR: Accountants in public practice and industry who want to increase their effectiveness in risk-based auditing of HUD organizations. REQUIRED KNOWLEDGE AND EXPERIENCE: Basic knowledge and experience auditing HUD organizations. COURSE TYPE: Seminar COURSE LENGTH: 1 day ADVANCED PREP: None RECOMMENDED CPE CREDIT: 8 hrs. COURSE LEVEL: Intermediate FIELD OF STUDY: Auditing (Governmental); Qualifies for Yellow Book CPE cl.thomsonreuters.com/A 800.387.1120 39 Effective HUD Audits HUDF MAJOR TOPICS: REGULATORY UPDATE Types of multifamily housing programs Audit and accounting guidance applicable to owners of multifamily housing projects Multifamily housing: programs features, contracts, and forms Consolidated HUD Audit Guide and other HUD guidance Single Audit Update AICPA UPDATE AICPA Code of Conduct COSO Internal Control Integrated Framework Auditing Standards Update RISK ASSESSMENT: COMPLIANCE WITH LAWS AND REGULATIONS Profit vs. nonprofit entities HUD compliance requirements Risk assessment procedures and planning Entity-level and program level risk Consideration of fraud Assessing compliance level risk: OMB and HUD The audit risk matrix Integrating OBM and HUD requirements TESTING CONTROLS AND COMPLIANCE Developing the detailed audit plan Testing A-133 key controls Tests of controls over HUD programs Testing specific OMB requirements Testing specific requirements applicable to HUD-assisted programs Evaluating results of compliance tests Sampling in tests of controls over compliance Sampling in substantive test of compliance with laws and regulations Planning the extent of substantive tests of compliance PEER REVIEW GUIDANCE AND COMMON ENGAGEMENT DEFICIENCIES Deficiencies noted in peer review Deficiencies in Yellow Book and Single Audit engagements Deficiencies noted by HUD Inspectors General cl.thomsonreuters.com/A 800.387.1120 40 Effective HUD Audits HUDF MAJOR TOPICS (CONT.): AUDITOR COMMUNICATIONS Changes to the Consolidated HUD Audit Guide Reportable findings Revised Schedule of findings and questioned costs Revised Schedule of Prior Audit Findings Revised Corrective Action Plan Revised auditors' reports cl.thomsonreuters.com/A 800.387.1120 41 CHECKPOINT LEARNING® AUDITWATCH TRAINING SOLUTIONS YELLOWBOOK UNIVERSITY The YellowBook University Series allows you to attend just the sessions that are most important to you. The sessions are designed to accommodate auditors new to this practice area as well as experienced auditors by allowing you to choose the combination of days that best suits your experience and interest. DAY 1: AUDITING NONPROFIT ORGANIZATIONS AND GOVERNMENTAL ENTITIES AWANO This session focuses on the fundamentals of auditing nonprofit organizations and governmental entities including their unique characteristics. This session is designed to provide practitioners that are new to this practice area an overview of the audit fundamentals and to provide the experienced auditor with a solid refresher. LEARNING OBJECTIVE: To perform more efficient and effective audits of nonprofit organizations and governmental entities. COURSE FEATURES: Workshop style presentation with exercises, examples, and group discussion Fundamental auditing standards applicable to audits of nonprofit organizations and governmental entities Risk assessment procedures, substantive procedures and tests of controls; including sampling Special accounting and auditing considerations in nonprofit and governmental audits Minimal use of PPC forms and practice aids in performing audits of nonprofit organizations and governmental entities DESIGNED FOR: Auditors in public practice that are responsible for performing audits of nonprofit organizations or governmental entities. REQUIRED KNOWLEDGE AND EXPERIENCE: Basic knowledge and experience with governmental and nonprofit audits. COURSE TYPE: Seminar COURSE LENGTH: 1 day ADVANCED PREP: None RECOMMENDED CPE CREDIT: 8 hrs. COURSE LEVEL: Basic FIELD OF STUDY: Auditing (Governmental); Qualifies for Yellow Book CPE cl.thomsonreuters.com/A 800.387.1120 42 YELLOWBOOK UNIVERSITY DAY 1 AWANO MAJOR TOPICS: Introduction to Auditing Nonprofit Organizations and Governmental Entities Introduction to Governmental Entities o Distinguishing characteristics o GAAP for governmental entities o Financial reporting Introduction to Nonprofit Organizations o Distinguishing characteristics o Industry specific GAAP o Financial reporting Introduction to Government Auditing Standards (Yellow Book) for financial audits o Relationship between government auditing standards and other professional standards o General standards and standards for financial audits o Independence Auditing Standard - Clarified Overview on convergence, drafting conventions, mapping and AU-C 200s to 900s How to adapt and apply your knowledge on auditing standards to audits of nonprofit organizations and governmental entities Emphasis on risk assessment process and financial statement assertions unique to nonprofit organizations and governmental entities. Includes substantive tests, tests of internal control and sampling Special Audit Considerations Nonprofit Organizations o Contributions o Net assets o Functional expenses o Going concern Governmental Entities o Opinion units o Financial reporting entity o Budget o Nonexchange transactions Fraud Considerations Two distinct sections within each module on audits of nonprofit organizations and governmental entities that include: Fraud triangle and risk factors Fraudulent financial reporting Identifying fraud schemes and effective audit response cl.thomsonreuters.com/A 800.387.1120 43 CHECKPOINT LEARNING® AUDITWATCH TRAINING SOLUTIONS YELLOWBOOK UNIVERSITY The YellowBook University Series allows you to attend just the sessions that are most important to you. The sessions are designed to accommodate auditors new to this practice area as well as experienced auditors by allowing you to choose the combination of days that best suits your experience and interest. DAY 2: PERFORMING EFFECTIVE AND EFFICIENT SINGLE AUDITS AWSAO In this session you will learn the key changes to the audit requirement of the single audit in the new guidance, 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. This section includes the overall performance of the single audit, reforms to the audit requirements, effective dates, and certain audit requirements that have not changed. Special attention is given to best practices, determining major programs, efficient and effective methods to test internal controls and compliance requirements (including sampling techniques), and development of meaningful audit findings. LEARNING OBJECTIVE: To recognize changes to the audit requirements in 2 CFR Part 200 and perform more efficient and effective single audits. COURSE FEATURES: Workshop style presentation with exercises, examples, and group discussion Fundamental audit requirements for planning and performing single audits as set forth in 2 CFR Part 200 Risk-based approach to determining major programs Opportunities to improve efficiency Minimal use of PPC forms and practice aids DESIGNED FOR: Auditors in public practice that are responsible for performing single audits. This session is also an excellent refresher for experienced practitioners that also need to understand the impact of changes to audit requirements in the new guidance (2 CFR Part 200). REQUIRED KNOWLEDGE AND EXPERIENCE: Minimal or basic knowledge and experience of performing single audits under OMB Circular A-133. COURSE TYPE: Seminar COURSE LENGTH: 1 day ADVANCED PREP: None RECOMMENDED CPE CREDIT: 8 hrs. COURSE LEVEL: Basic FIELD OF STUDY: Auditing (Governmental); Qualifies for Yellow Book CPE cl.thomsonreuters.com/A 800.387.1120 44 YELLOWBOOK UNIVERSITY DAY 2 AWSAO MAJOR TOPICS: Understanding the background of the single audit and current developments including 2 CFR Part 200 Understanding the auditee and auditor responsibilities in preparing a complete and accurate schedule of expenditures of federal awards based on the new guidance of 2 CFR Part 200 Performing a risk-based approach to determine major programs based on the new guidance of 2 CFR Part 200 Designing effective and efficient methods to test compliance requirements that could have a direct and material effect on a major program and text internal controls over compliance based on the new guidance of 2 CFR Part 200 Understanding sampling in a single audit environment Effectively identifying, developing and reporting audit findings to comply with the requirements of 2 CFR Part 200 Recognizing effects of new guidance (2 CFR Part 200) and best practices to improve single audit efficiency (discussed throughout the session) Understanding an overview of the new guidance (2 CFR Part 200) from the perspective of the auditee and Federal awarding agency cl.thomsonreuters.com/A 800.387.1120 45 CHECKPOINT LEARNING® AUDITWATCH TRAINING SOLUTIONS YELLOWBOOK UNIVERSITY The YellowBook University Series allows you to attend just the sessions that are most important to you. The sessions are designed to accommodate auditors new to this practice area as well as experienced auditors by allowing you to choose the combination of days that best suits your experience and interest. DAY 3: GOVERNMENTAL AND NONPROFIT UPDATE AWGUO In this session, we update you on recently issued and effective authoritative pronouncements affecting governmental units and nonprofit organizations; including accounting, auditing, ethics, regulatory, and compliance issues. This session will also address the practical implementation and practice issues related to the most significant new standards. LEARNING OBJECTIVE: To explain recent changes in guidance affecting government and nonprofit entities. COURSE FEATURES: Workshop style presentation with exercises, examples, and group discussion Special accounting and auditing considerations in governmental and nonprofit audits Review of exposure drafts and other proposals that will affect your clients Practical application of new standards and guidance DESIGNED FOR: Auditors in public practice that are responsible for performing audits of nonprofit organizations or governmental entities. REQUIRED KNOWLEDGE AND EXPERIENCE: Basic knowledge and experience with governmental and nonprofit audits. COURSE TYPE: Seminar COURSE LENGTH: 1 day ADVANCED PREP: None RECOMMENDED CPE CREDIT: 8 hrs. COURSE LEVEL: Update FIELD OF STUDY: Accounting 2 hrs.; Accounting (Governmental) 2 hrs.; Auditing 2 hrs.; Auditing (Governmental) 2 hrs.; Qualifies for YellowBook CPE cl.thomsonreuters.com/A 800.387.1120 46 YELLOWBOOK UNIVERSITY DAY 3 AWGUO MAJOR TOPICS: Current challenges affecting governmental units and nonprofit organizations Recently issued GASBs, GASB exposure drafts GASB implementation guidance Recently released ASUs and ASU exposure drafts affecting nonprofit organizations Common disclosure deficiencies related to governmental units and nonprofit organizations Compliance auditing update: Yellow Book guidance and Single Audit changes Revisions to AICPA standards affecting financial reporting Changes to AICPA Accounting and Auditing guides: state and local governments, nonprofit organizations, GAS/A-133 Changes to compilation and review standards Revisions to the COSO Framework and the GAO Green Book Common engagement deficiencies noted in peer review and OIG inspections Ethics standards update cl.thomsonreuters.com/A 800.387.1120 47 CHECKPOINT LEARNING® AUDITWATCH TRAINING SOLUTIONS YELLOWBOOK UNIVERSITY The YellowBook University Series allows you to attend just the sessions that are most important to you. The sessions are designed to accommodate auditors new to this practice area as well as experienced auditors by allowing you to choose the combination of days that best suits your experience and interest. DAY 4: AUDITING NONPROFIT ORGANIZATIONS AND GOVERNMENTAL ENTITIES – ADVANCED TOPICS AWADO This session focuses on advanced accounting and auditing issues unique to performing audits of nonprofit organizations and governmental entities. Topics include common practice and implementation issues relating to recent standards and recent risk alerts. LEARNING OBJECTIVE: To perform more efficient and effective audits of nonprofit and governmental entities. COURSE FEATURES: Workshop style presentation with exercises, examples, and group discussion Discussion of advanced practice issues appropriate for experienced auditors Minimal use of certain PPC forms and practice aids in performing governmental and nonprofit organization audits DESIGNED FOR: Auditors in public practice that are responsible for performing audits of nonprofit organizations or governmental entities. REQUIRED KNOWLEDGE AND EXPERIENCE: Basic knowledge and experience with governmental and nonprofit GAAP COURSE TYPE: Seminar COURSE LENGTH: 1 day ADVANCED PREP: None RECOMMENDED CPE CREDIT: 8 hrs. COURSE LEVEL: Advanced FIELD OF STUDY: Accounting, 2 hrs.; Accounting (Governmental), 3 hrs.; Auditing, 2 hrs.; Auditing (Governmental), 1hr.; Qualifies for YellowBook CPE cl.thomsonreuters.com/A 800.387.1120 48 YELLOWBOOK UNIVERSITY DAY 4 AWADO MAJOR TOPICS: Governmental: Deferred Outflows and Inflows of Resources – Includes GASB Statement No. 63 and 65, and Concepts Statement No. 4 Apply concepts of deferred inflows and deferred outflows of resources Identify and report transactions that are deferred inflows and deferred outflows of resources Recognize effects of GASB Statement No. 63 and 65 on reporting Governmental: Tackle the New Pension Standards – Includes GASB Statement No. 67, 68, and 71 Recognize scope and significant changes resulting to pension standards Summarize accounting and financial reporting provisions of the new pension standards Develop effective audit procedures based on risk Governmental: GASB Statement No. 69 an 70 Address audit challenges of government combinations and disposals of government operations Address audit challenges relating to the accounting and financial reporting for nonexchange financial guarantees Governmental: Implementation Issues with Recent GASB’s (NOTE: This supplemental content may be covered only if time permits and based on relevance/interest to participants.) Apply accounting and financial reporting guidance relating to: o GASB Statement No. 60 on Service Concession Arrangement o GASB Statement No. 61 on the Financial Reporting Entity Governmental: Audit Risk Alert Determine effects of risk on governmental audits based on understanding of recent developments Identify significant risks that may result in material misstatement of financial statements Evaluate unique governmental practice issues Nonprofit Organizations: Fair Value Measurement Recognize the fair value framework Apply fair value framework to: promises to give, split interest agreements and beneficial interest in perpetual trusts Determine fair value of various gifts-in-kind Nonprofit Organizations: Contributions – GAAP Issues Understand common GAAP issues associated with receiving contributions Identify and apply GAAP to donor-restricted endowment funds subject to Uniform Prudent Management of Institutional Fund Act (UPMIFA) cl.thomsonreuters.com/A 800.387.1120 49 YELLOWBOOK UNIVERSITY DAY 4 AWADO MAJOR TOPICS (CONT.): Nonprofit Organizations: Functional Expense Allocation; Including Supporting and Program Services Understand functional expense reporting requirements (GAAP) Recognize how the purpose of the functional allocation can affect the method used Identify risks of material misstatement Identify effect of ASU 2013-06 Develop an effective audit approach Nonprofit Organizations: Audit Risk Alert Determine effects of risk on nonprofit audits based on understanding of recent developments Identify significant risks that may result in material misstatement of financial statements Evaluate unique nonprofit practice issues cl.thomsonreuters.com/A 800.387.1120 50 CHECKPOINT LEARNING® AUDITWATCH TRAINING SOLUTIONS AUDITWATCH UNIVERSITY – LEVEL 1: BASIC STAFF TRAINING AWO1 This session helps new auditors get off to a great start, introducing them to the auditing field and basic audit responsibilities. The course includes case studies in common audit areas typically completed by staff accountants and provides an overview of how each area fits into the big picture. REQUIRED KNOWLEDGE AND EXPERIENCE: 0-4 months COURSE TYPE: Seminar COURSE LENGTH: 4 days ADVANCED PREP: None RECOMMENDED CPE CREDIT: 32 hrs. COURSE LEVEL: Basic FIELD OF STUDY: Auditing, 23 hrs.; Accounting, 7 hrs.; Communication, 2 hrs. MAJOR TOPICS AND LEARNING OBJECTIVES: Role of the Staff Auditor – 1 Credit (Auditing) Describe characteristics and skills that are important to a staff person’s success Services and Responsibilities – 2 Credits (Auditing) Describe key differences between an audit, a review, compilation, preparation of financial statements, and accounting services Recognize the purpose of an audit Recognize the differences between attest procedures and accounting services Identify attest procedures versus assurance procedures More confidently execute your role and responsibility as an effective engagement team member Workpapers and Documentation – 2 Credits (Auditing) Explain the requirements of AU-C 230, Audit Documentation Create, organize, and prepare audit workpapers cl.thomsonreuters.com/A 800.387.1120 51 AuditWatch University Level 1: Basic Staff Training AWO1 MAJOR TOPICS AND LEARNING OBJECTIVES (CONT.): Introduction to the Audit Plan – 3.5 Credits (Auditing) Describe the key phases of the audit plan List basic requirements of risk assessment procedures Discuss the objectives and contents of key planning forms Identify ways auditors obtain evidence through the performance of accepted audit procedures Introduction to Internal Controls & Analytical Procedures – 4 Credits (Auditing) Describe the key components of internal controls and list the auditors’ responsibilities related to controls Describe requirements and best practices for understanding, documenting and testing internal controls Characterize the role of analytical procedures in audits and reviews Identify the key steps in performing substantive analytics Properly document an understanding of controls and substantive analytics Common Audit Areas – 16 Credits (9 Credits Auditing, 7 Credits Accounting) (Cash, A/R, PP&E, Inventory, A/P, Debt) Identify and explain the basic audit risks Perform common audit procedures and explain how the procedures address documented risks and assertions Professionalism in Public Accounting – 3 Credits (1 Credit Auditing, 2 Credits Communication) Describe tips for professionalism in the role of a staff person List key characteristics of being successful in public accounting Understand common ethical challenges and potential responses Summary: Best Practices for Beginning Staff – 0.5 Credit (Auditing) Summarize the key learning points of the course Revisit course objectives Brainstorm best practices for first-year staff cl.thomsonreuters.com/A 800.387.1120 52 CHECKPOINT LEARNING® AUDITWATCH TRAINING SOLUTIONS AUDITWATCH UNIVERSITY – LEVEL 2: EXPERIENCED STAFF TRAINING AWO2 This session introduces auditors to the complete audit process and plan. It focuses on ways for staff and senior accountants to significantly participate in the risk assessment procedures, including efforts surrounding internal controls. In addition, significant time is spent on performance of further audit procedures including tests details such as sampling, auditing estimates, and analytical procedures. Finally, the course includes discussions of select technical accounting, auditing, advanced documentation, and business skills. REQUIRED KNOWLEDGE AND EXPERIENCE: 5 -21 months COURSE TYPE: Seminar COURSE LENGTH: 3 days ADVANCED PREP: None RECOMMENDED CPE CREDIT: 24 hrs. COURSE LEVEL: Intermediate FIELD OF STUDY: Auditing, 19 hrs.; Accounting, 5 hrs. MAJOR TOPICS AND LEARNING OBJECTIVES: The Role of the Experienced Staff Auditor – 1 Credit (Auditing) Describe and provide multiple examples of the increased expectations of an experienced staff person List core auditing concepts that are critical to the success of experienced staff auditors The Audit Plan – 8 Credits (Auditing) Assist the team in gaining, updating, and documenting their understanding of the entity and its environment, including internal controls Begin to better identify and document risks of material misstatement using an understanding of the entity and its environment, including internal controls Participate more confidently in the risk assessment process Substantive Analytical Procedures – 3 Credits (Auditing) Apply the principles of performing substantive analytical procedures Analyze differences from expectations Properly document substantive analytics cl.thomsonreuters.com/A 800.387.1120 53 AuditWatch University Level 2: Experienced Staff Training AWO2 MAJOR TOPICS AND LEARNING OBJECTIVES (CONT.): Sampling & Other Substantive Tests of Detail – 3 Credits (Auditing) Describe various tests of details Describe common audit approaches when using tests of details Select the appropriate audit approach Plan and implement the selected approach, including nonstatistical sampling Auditing Estimates and Accruals – 2 Credits (Auditing) Identify common estimates and accruals List three general approaches to auditing estimates Determine the approach most likely to be selected for a given estimate Advanced Documentation — .5 Credits (Auditing) Understand the requirements of AU-C 230, Audit Documentation Financial Reporting – 4 Credits (3 Credits Accounting, 1 Credit Auditing) Prepare a statement of cash flows Understand various reporting requirements List and identify common issues encountered while preparing and updating the financial statements Accounting and Review Services – 2 Credits (Accounting) Describe the differences between compilation, review and preparation engagements Understand and communicate management’s responsibilities versus the accountant’s responsibilities Summarize the requirements in each type of engagement relating to procedures performed, documentation and reporting Summary: Best Practices for the Experienced Staff – 0.5 Credits (Auditing) List best practices discussed in the course Describe ways skills learned in this program will be applied in the upcoming year cl.thomsonreuters.com/A 800.387.1120 54 CHECKPOINT LEARNING® AUDITWATCH TRAINING SOLUTIONS AUDITWATCH UNIVERSITY – LEVEL 3: BEGINNING IN-CHARGE TRAINING AWO3 This session prepares auditors to take in-field responsibility for an audit engagement. It mixes discussion with case studies to provide an in-depth look at designing and completing the key steps in an audit. There is heavy focus on completing the risk assessment procedures and making appropriate risk assessments. We include case study work on understanding, evaluating, and verifying a client’s activity level controls within key business cycles. This session also includes multiple interrelated modules on key business skills used by in-charge accountants, including supervising individuals and reviewing files. REQUIRED KNOWLEDGE AND EXPERIENCE: 21-36 months COURSE TYPE: Seminar COURSE LENGTH: 3 days ADVANCED PREP: None RECOMMENDED CPE CREDIT: 24 hrs. COURSE LEVEL: Intermediate FIELD OF STUDY: Auditing, 22 hrs.; Communication, 2 hrs. MAJOR TOPICS AND LEARNING OBJECTIVES: Introduction and Role of the In-Charge – 1 Credit (Auditing) Identify important skills and characteristics of the best performing in-charge accountants Planning Your Audit – 8 Credits (Auditing) Obtain an understanding of the entity and its environment, including internal controls Assess risks of material misstatement at the overall and assertion levels Facilitate an engagement team meeting Design sufficient and appropriate audit procedures to respond to the assessed risks Engagement Tips – 2 Credits (Auditing) List key principles for creating effective “prepared by client” lists. List efficient engagement wrap-up techniques and describe in what situations they might be most effective. Describe basic engagement economic terms and concepts. cl.thomsonreuters.com/A 800.387.1120 55 AuditWatch University Level 3: Beginning In-Charge Training AWO3 MAJOR TOPICS AND LEARNING OBJECTIVES (CONT.): Super Staff Supervision – 4 Credits (Auditing) Describe the importance of effective supervision and understand supervision styles Identify and apply different teaching methods Describe the need for and process of delegation Communication and Information Gathering – 2 Credits (Communication) Clearly communicate to staff and others Describe techniques for effectively interviewing clients and processing the information obtained from inquiries Listen actively in order to increase participants’ understanding of essential information Reviewing Workpapers – 3 Credits (Auditing) Understand the requirements of AU-C 230, Audit Documentation Describe the purpose of a detailed review Perform a detailed review Write productive review notes Effective Analytics – 3.5 Credits (Auditing) Describe the principles of designing great substantive analytical procedures List common sources for developing independent expectations Document results of substantive analytical procedures Summary: Best Practices - .5 Credits (Auditing) List best practices discussed in the course Describe ways skills learned in this program will be applied in the upcoming year cl.thomsonreuters.com/A 800.387.1120 56 CHECKPOINT LEARNING® AUDITWATCH TRAINING SOLUTIONS AUDITWATCH UNIVERSITY – LEVEL 4: EXPERIENCED IN-CHARGE TRAINING AWO4 This course moves experienced auditors beyond the basics. The session builds upon experiences with running engagements and provided insights and best practices on supervising, motivating, and evaluating team members. The course challenges experienced auditors to improve the effectiveness and efficiency of their audit engagements through exercises and case studies on common audit scenarios. It also provides an in-depth look at audit tasks typically performed by more experienced team members, such as evaluating design of controls, responding to risks, designing audit programs, and tests of controls. REQUIRED KNOWLEDGE AND EXPERIENCE: 3 - 4 years COURSE TYPE: Seminar COURSE LENGTH: 3 days ADVANCED PREP: None RECOMMENDED CPE CREDIT: 24 hrs. COURSE LEVEL: Intermediate FIELD OF STUDY: Auditing, 22.5 hrs.; Accounting, 1.5 hrs. MAJOR TOPICS AND LEARNING OBJECTIVES: Introduction and Role of the Experienced In-Charge Auditor – 1 Credit (Auditing) Identify the most significant challenges facing experienced in-charge auditors The Supervision Competency – 6 Credits (Auditing) Define competency and list its components Share, reflect upon, and self-assess supervisory skills Address concerns and challenges, including: o Selecting an appropriate leadership style o Creating and motivating teams o Managing subordinates o Providing oral and written feedback cl.thomsonreuters.com/A 800.387.1120 57 AuditWatch University Level 4: Experienced In-Charge Training AWO4 MAJOR TOPICS AND LEARNING OBJECTIVES (CONT.): Advanced Topics in Audit Planning – 6 Credits (Auditing) Explain how to effectively and efficiently plan an audit engagement Identify critical auditing concepts to teach to engagement team members Effectively and efficiently gain an “understanding” of internal controls Discuss best practices in facilitating planning meetings Creating and Modifying Audit Programs – 1.5 Credits (Auditing) Evaluate audit procedures for effectiveness in achieving audit goals Facilitate the development and customization of further audit procedures Designing Better Analytics and Tests of Controls – 3 Credits (Auditing) Evaluate analytics for effectiveness in achieving audit goals and efficiency opportunities Design better substantive analytical procedures and improve documentation Teach the engagement team how to better develop, execute, and interpret analytical results Determine when and how to design tests of operating effectiveness of internal controls List methods available to test controls Identifying and Responding to Fraud Risks – 1.5 Credits (Auditing) List common fraud risks at small companies Design tailored audit responses to fraud risks Identify specific tests to search for fraud Incorporate the use of technology in fraud responses Engagement Economics– 1.5 Credits (Auditing) Understand the basic principles of profitable engagement management Leverage budgets to maximize realization and firm profits Learn techniques to more effectively communicate engagement status Evaluating, Concluding & Reporting – 1.5 Credits (Auditing) Evaluate misstatements and control deficiencies and perform required responses Explain the requirements, evaluate, and report in compliance with of AU Section 265 (Communicating Internal Control Matters) List resources that generate insightful management letter comments Use a structured model to draft control deficiencies and business advice comments for management Current Issues in Accounting and Auditing – 1.5 Credits (Accounting) List and describe significant new accounting or auditing pronouncements and the audit risks they may introduce Recognize when new technical literature might generate a potential risk of material misstatement on their audits Summary: Best Practices for the Experienced In-Charge - .5 Credits (Auditing) List best practices discussed in the course Describe ways skills learned in this program will be applied in the upcoming year cl.thomsonreuters.com/A 800.387.1120 58 CHECKPOINT LEARNING® AUDITWATCH TRAINING SOLUTIONS AUDITWATCH UNIVERSITY – LEVEL 4.5: BEYOND IN-CHARGE, “TAKING THE NEXT STEP” AWO45 This course prepares experienced auditors to take the next step in their development as engagement and firm leaders. Building on the concepts introduced in Level 4: Experienced In-Charge Training, the course challenges auditors to champion the audit process by developing efficient audit plans, managing the audit process working with clients, dealing with complex accounting and audit issues, and wrapping up engagements. Course material also addresses key issues in performing review and compilation engagements, using special purpose frameworks, and recognizing advanced financial reporting issues. REQUIRED KNOWLEDGE AND EXPERIENCE: 4-5 years COURSE TYPE: Seminar COURSE LENGTH: 2 days ADVANCED PREP: None RECOMMENDED CPE CREDIT: 16 hrs. COURSE LEVEL: Intermediate FIELD OF STUDY: Auditing, 9.5 hrs.; Accounting, 1 hr.; Communication, 2 hrs.; Personal Development, 3.5 hrs. MAJOR TOPICS AND LEARNING OBJECTIVES (CONT.): Introduction and Summary – 1.5 Credits (1 Credit Auditing, .5 Credits Personal Development) Identify ways in which the audit can be improved from both efficiency and quality perspectives Identify ways in which the management of the engagement can be improved Summarize the key learning points of the course Audit Efficiency Best Practices – 4 Credits (Auditing) Describe and teach basic audit concepts to staff Perform more efficient and effective engagements Share ideas with your firm and with your teams to look at engagements in different ways Recognizing Financial Reporting, Auditing & Accounting Issues – 2 Credits (1 Credit Auditing, 1 Credit Accounting) Recognize when complex technical issues might indicate a risk of material misstatement on your audits List and describe ways to identify technical auditing and accounting issues early to improve efficiency on engagements List and describe significant new accounting or auditing pronouncements and the audit risks they may introduce cl.thomsonreuters.com/A 800.387.1120 59 AuditWatch University Level 4.5: Beyond In-Charge, “Taking The Next Step” AWO45 MAJOR TOPICS AND LEARNING OBJECTIVES (CONT.): Attest Services for Smaller Entities – 1.5 Credits (Auditing) List and describe considerations as a reviewer for Review and Compilation engagements Understand engagement and reporting differences for Special Purpose Frameworks of accounting Discuss efficiency considerations related to Compilations, Reviews, Preparation and Special Purpose Framework engagements Wrapping-Up the Audit – General Audit Procedures – 2 Credit (Auditing) Apply advanced concepts in performing General Auditing Procedures Recognize best practices in assigning roles and responsibilities List and describe efficiency tips for performing General Auditing Procedures Making Your Meetings Effective and Efficient – 2 Credits (Communication) List and explore meeting design and execution strategies Understand techniques to improve your meeting facilitation skills List and apply tools to make your meetings more effective and efficient Project Management Tools for Auditors – 3 Credits (Personal Development) Define the common phases of a project in the public accounting environment List actions and strategies for better management of your audits and projects Understand tools to better communicate project status cl.thomsonreuters.com/A 800.387.1120 60 CHECKPOINT LEARNING® AUDITWATCH TRAINING SOLUTIONS AUDITWATCH UNIVERSITY – LEVEL 5: MOVING BEYOND IN-CHARGE, “TAKING THE LEAD” AWO5 In this course participants reach beyond technical expertise to develop critical managerial skills to further their firm’s success. Participants learn results oriented leadership skills to better manage multiple engagements and teams. Through a series of individual and group activities, participants explore ways to be more effective in improving engagement performance. Participants will leave with specific individual professional development goals that may be integrated with their firm’s performance management model. Course also includes presentation skills, business development, and career success strategies. REQUIRED KNOWLEDGE AND EXPERIENCE: 5 – 6 years COURSE TYPE: Seminar COURSE LENGTH: 3 days ADVANCED PREP: None RECOMMENDED CPE CREDIT: 24 hrs. COURSE LEVEL: Advanced FIELD OF STUDY: Personal Development, 19 hrs.; Communication, 5 hrs. MAJOR TOPICS AND LEARNING OBJECTIVES: Introduction – 1 Credit (Personal Development) Identify current and upcoming roles and responsibilities that require their strong, competent leadership Leadership – 5.5 Credits (Personal Development) List and apply key leadership skills Identify and analyze personal leadership traits using a four quadrant behavioural matrix model Explain how to inspire and influence others to achieve results through coaching and performance management Business Development – 3 Credits (Personal Development) Define the key elements in delivering exceptional client service Describe techniques for managing growth through client service Learn to identify new business opportunities to increase firm revenues Identify and apply methods to create and develop referrals cl.thomsonreuters.com/A 800.387.1120 61 AuditWatch University Level 5: Moving Beyond In-Charge, “Taking The Lead” MAJOR TOPICS AND LEARNING OBJECTIVES (CONT.): Career Success Strategies – 3 Credits (Personal Development) Explore opportunities to accelerate professional development while achieving greater work life balance Learn and apply a structured model to set and achieve goals Identify and practice techniques to execute multiple engagements and assignments with changing priorities and deadlines Engagement Economics – 1.5 Credits (Personal Development) Identify the basic principles of profitable engagement management Leverage budgets to maximize realization and firm profits Learn techniques to achieve greater results using the resources you have now Advanced Communication and Negotiation Essentials – 3 Credits (2 Credits Personal Development, 1 Credit Communication) Gain techniques to communicate more effectively Learn skills to handle challenging conversations Describe and apply collaborative negotiation skills that enable business success Presentation Skills – 6 Credits (2 Credits Personal Development, 4 Credits Communication) List and explore the characteristics of effective presenters Using proven techniques, organize and deliver an engaging live presentation Summary: The Professional Development Plan – 1 Credit (Personal Development) List opportunities for professional growth discovered in the course Discuss how skills learned will be applied when you return to your firm Complete a professional development plan to be used in the upcoming year cl.thomsonreuters.com/A 800.387.1120 62 AWO5 CHECKPOINT LEARNING® AUDITWATCH TRAINING SOLUTIONS AUDITWATCH UNIVERSITY – LEVEL 6: DEVELOPING THE EXECUTIVE WITHIN AWO6 This course develops individuals who consistently interact and manage at the executive level. By learning and applying a variety of methods, participants enhance their effectiveness as emerging executives. Participants also explore how to increase their technical and managerial contributions to their firm through higher level performance. By analyzing the concept of executive presence, participants discover why it is such a critical component of business success and career advancement. REQUIRED KNOWLEDGE AND EXPERIENCE: 6+ years – Partners COURSE TYPE: Seminar COURSE LENGTH: 2 days ADVANCED PREP: None RECOMMENDED CPE CREDIT: 16 hrs. COURSE LEVEL: Advanced FIELD OF STUDY: Personal Development, 16 hrs. MAJOR TOPICS AND LEARNING OBJECTIVES: Introduction – 1 Credit (Personal Development) Explore and discuss the fundamentals of Executive Presence Using Emotional Intelligence to Achieve Success – 2 Credits (Personal Development) Recognize the main components of Emotional Intelligence (EI) Practice EI fundamentals through a series of interactive discussions and exercises after an in-depth self-assessment Learn how EI is applied to enhance work relationships, performance and productivity The Multi-Generational Workplace – 2 Credits (Personal Development) Understand the generations that make up the current workforce Explore key differences, characteristics and behaviours of each generation Learn techniques and strategies for effective interactions with multi-generational teams in the public accounting environment Performance and Talent Management – 2 Credits (Personal Development) Discuss and explore the dynamics of performance and talent management in the public accounting industry Explain how to identify and develop talent in individuals to maximize their performance and professional growth Gain insight on best practices to develop and retain staff cl.thomsonreuters.com/A 800.387.1120 63 AuditWatch University Level 6: Developing The Executive Within AWO6 MAJOR TOPICS AND LEARNING OBJECTIVES (CONT.): Developing Executive Presence – 4 Credits (Personal Development) Identify the elements of Executive Presence Identify the behaviours necessary to maximize interaction and communication at the executive level Apply techniques learned to develop and deliver a brief, engaging executive-level presentation Building New Business – 4 Credits (Personal Development) Explore important concepts related to developing new business Apply structured techniques to plan for and develop business growth Practice the art of gaining new business through a series of interactive skill building activities Summary: Taking Your Career to the Next Level – .5 Credits (Personal Development) List opportunities for professional growth discovered in the course Discuss how skills learned will be applied when you return to your firm cl.thomsonreuters.com/A 800.387.1120 64 CHECKPOINT LEARNING® AUDITWATCH TRAINING SOLUTIONS WEB-BASED NEW HIRE TRAINING AWW1 This course is a series of modules adapted from AuditWatch University Level 1 designed for new auditors and delivered on WebEx, a web-based, interactive learning platform. The course includes live instruction by an AuditWatch instructor combining lecture, interactive exercises, discussion and question and answer sessions. The course covers topics most important for new staff at an audit firm. This program is available for sale to firms and will also be presented as a public web seminar. LEARNING OBJECTIVE: To enable participants to complete typical tasks assigned to new staff auditors. COURSE FEATURES: Overview of the audit process and plan Case studies in audit areas typically assigned to new staff Convenient format via web DESIGNED FOR: New staff auditors with 0 – 6 months of auditing experience. REQUIRED KNOWLEDGE AND EXPERIENCE: Participants should have basic accounting knowledge. COURSE TYPE: Webinar COURSE LENGTH: 2 days ADVANCED PREP: None RECOMMENDED CPE CREDIT: 16 hrs. (8 hrs. per day) COURSE LEVEL: Basic FIELD OF STUDY: Auditing, 16 hrs. cl.thomsonreuters.com/A 800.387.1120 65 Web-Based New Hire Training AWW1 MAJOR TOPICS: Role of the Staff Accountant and Scope of Services – 2.0 Credits (Auditing) Identify basic roles and responsibilities of staff accountants in the public accounting industry Describe key differences between an audit, a review, compilation, preparation of financial statements, and accounting services Identify attest procedures versus accounting services Describe tips for professionalism and communication best practices as a staff auditor Workpaper Documentation and Audit Procedures – 2 Credits (Auditing) Explain the requirements of AU-C 230, Audit Documentation Create, organize, and prepare audit workpapers Describe accepted types of audit evidence Describe accepted types of auditing procedures Introduction to the Audit Plan – 2 Credits (Auditing) Describe the key phases of the audit plan List basic requirements of risk assessment procedures Discuss the objectives and contents of key planning forms Common Audit Areas – 10 Credits (10 Credits Auditing) (Cash, A/R, PP&E, Inventory and A/P) Identify and explain the basic audit risks Perform common audit procedures and explain how the procedures address documented risks and assertions NOTE: Participants of the course should have access to a reliable internet connection and a phone line. The session can be presented to a group; however there must be a group moderator to receive CPE credit and to participate in exercises during the live-group session. cl.thomsonreuters.com/A 800.387.1120 66 CHECKPOINT LEARNING® AUDITWATCH TRAINING SOLUTIONS TAXWATCH UNIVERSITY TAX STAFF TRAINING—LEVEL 1 TX1F This practical, hands-on program is designed for tax professionals with limited tax experience and knowledge. This course provides learning opportunities surrounding common individual and corporate tax topics that they may encounter. The course is designed to provide information on the tax rules and to challenge the participants to complete case studies and exercises where participants apply the rules and complete actual tax forms. LEARNING OBJECTIVE: To enable participants to prepare basic individual and corporate tax returns and to begin to recognize more complex tax issues. COURSE FEATURES: Individual forms and rules Corporate returns and rules Case studies and practice completing common forms Introduction to common terms and tax situations DESIGNED FOR: Tax staff in public accounting with 0–1 year of experience. REQUIRED KNOWLEDGE AND EXPERIENCE: Basic knowledge of individual income taxation. COURSE TYPE: Seminar COURSE LENGTH: 3 days ADVANCED PREP: None RECOMMENDED CPE CREDIT: 24 hrs. COURSE LEVEL: Basic FIELD OF STUDY: Taxation cl.thomsonreuters.com/A 800.387.1120 67 TaxWatch University Tax Staff Training – Level 1 TX1F MAJOR TOPICS: INDIVIDUAL Filing status Personal exemptions Income o Wages and salaries o Interest and dividend income o Pension and retirement income o Securities transactions o Other income items Adjustments to income Itemized deductions o Standard deduction o Medical expenses o Deductible taxes o Interest expense o Charitable contributions o Other itemized deductions Credits, payments and other Topics o Personal credits o Tax payments o Filing returns SOLE PROPRIETORSHIPS Schedule C Tax accounting methods Depreciation Self-employment tax RENTAL PROPERTY Schedule E Passive activities CORPORATIONS S Corporations Limited Liability Companies Preparing a corporate tax return Book to tax reconciliations (M-1 and M-3) THE ROLE OF THE STAFF ACCOUNTANT Understanding the role of a staff accountant in an accounting firm Workpaper preparation techniques Performing a self-review cl.thomsonreuters.com/A 800.387.1120 68 CHECKPOINT LEARNING® AUDITWATCH TRAINING SOLUTIONS TAXWATCH UNIVERSITY TAX STAFF TRAINING—LEVEL 2 TX2F This practical, hands-on program is designed for tax professionals in their first or second year. This course provides learning opportunities on intermediate corporate, individual, and other entity type tax topics. The course is designed to both provide information on the tax rules and to challenge the participants to complete case studies and exercises where they apply the rules and complete tax forms. Topics covered also include time management, engagement management and conducting client interviews. LEARNING OBJECTIVE: To enable participants to prepare more complex individual and corporate tax returns in a more efficient and effective manner and be familiar with key tax rules impacting individuals and business entities. To help participants develop and refine vital time management, engagement management and client interviewing skills. COURSE FEATURES: Corporate forms and rules Individual forms and rules Depreciation including the new capitalization regulations Sale of assets used in trade or business Case studies and practice completing forms Discussion of other types of entities and tax issues Time management Engagement management Interviewing skills DESIGNED FOR: Tax staff in public accounting with 1–2 years of experience. REQUIRED KNOWLEDGE AND EXPERIENCE: Basic knowledge of individual taxation. Completion of PPC Tax Staff Training—Level 1 or equivalent is recommended. COURSE TYPE: Seminar COURSE LENGTH: 3 days ADVANCED PREP: None RECOMMENDED CPE CREDIT: 24 hrs. COURSE LEVEL: Intermediate FIELD OF STUDY: Taxation cl.thomsonreuters.com/A 800.387.1120 69 TaxWatch University Tax Staff Training – Level 2 TX2F MAJOR TOPICS: C CORPORATIONS Capital gains and losses Compensation NOLs –AMT Schedules L, M-1, M-2, M-3, and E&P Other, including controlled groups and related party transactions S-CORP Filing, repairing election, terminating Shareholder basis and distributions Schedules L, M-1, and M-2 Income, expenses, and AMT PARTNERSHIP AND LLPs Introduction to these types of entities Formation, tax year, and accounting methods Self-employment tax Schedule K-1 and various M schedules Pass-through items Capital and basis INDIVIDUAL (INTERMEDIATE LEVEL TOPICS) Pensions Proprietorships Travel and entertainment Kiddie tax Personal credits Disposal of business assets (Form 4797) Depreciation including the new capitalization regulations TIME MANAGEMENT Time management strategies Short-term goals Prioritization ENGAGEMENT MANAGEMENT Managing client projects INTERVIEWING SKILLS Preparing for client interviews Performing verbal client inquiries cl.thomsonreuters.com/A 800.387.1120 70 CHECKPOINT LEARNING® AUDITWATCH TRAINING SOLUTIONS TAXWATCH UNIVERSITY TAX STAFF TRAINING—LEVEL 3 TX3F This practical, hands-on program is designed for tax professionals with multiple years’ experience. This course provides learning opportunities on intermediate to advanced partnership, LLC, corporate, and individual topics. The course is designed to provide information on the tax rules and includes case studies and exercises, which challenge participants to apply the rules and complete actual tax forms. LEARNING OBJECTIVE: To enable participants to handle partnerships, LLCs and estate and trust issues as well as individual and corporate events in a more efficient and effective manner. COURSE FEATURES: Complex entity structures Advanced individual and corporate issues including S corporations Case studies, exercises, and practice completing select key forms Time management Engagement management Communication DESIGNED FOR: Tax staff in public accounting with 2–3 years of experience. REQUIRED KNOWLEDGE AND EXPERIENCE: Basic knowledge of taxation of estates and trusts, S corporations, partnerships and LLCs. Completion of PPC Tax Staff Training—Levels 1 and 2 or equivalent is recommended. COURSE TYPE: Seminar COURSE LENGTH: 3 days ADVANCED PREP: None RECOMMENDED CPE CREDIT: 24 hrs. COURSE LEVEL: Intermediate FIELD OF STUDY: Taxation cl.thomsonreuters.com/A 800.387.1120 71 TaxWatch University Tax Staff Training – Level 3 TX3F MAJOR TOPICS: PARTNERSHIPS AND LLCs Joint Ventures Capital and basis Section 754 Passive activity losses Distributions and terminations Outside Basis (including at-risk basis) TIME MANAGEMENT ENGAGEMENT MANAGEMENT OTHER ENTITIES AND TOPICS Estates and trusts IRD Form 1041 deductions Fiduciary accounting Beneficiaries Grantor trusts Foreign issues Passive activity losses At risk rules Personal holding company Business credits C-Corp liquidations Stock dispositions Changes in structure Shareholder Basis (including debt basis) INDIVIDUALS Passive activity losses Below market loans AMT (in-depth) Business credits cl.thomsonreuters.com/A 800.387.1120 Planning Budgeting Client prepared schedules Time outside of busy season COMMUNICATION C-CORPS and S-CORPS Time management strategies Prioritization 72 Providing instructions to interns, new staff and others Client interviewing skills Questioning and listening techniques CHECKPOINT LEARNING® AUDITWATCH TRAINING SOLUTIONS TAXWATCH UNIVERSITY TAX STAFF TRAINING—LEVEL 4 TX4F This program is designed to advance a tax professional into more complex taxation issues. The program includes sessions on tax planning and saving strategies related to individuals and corporations. It also provides additional training on technical tax issues mainly related to pass-through entities and more advanced corporate and individual issues. LEARNING OBJECTIVE: To provide participants the technical knowledge important to working with clients in a tax advisory role. COURSE FEATURES: Corporate tax advanced topics Individual tax advanced topics Partnership and LLC advanced topics Tax planning strategies Estate and gift taxation basics Project management Leadership and supervision Ethics DESIGNED FOR: Tax professionals with 3 or more years of experience. REQUIRED KNOWLEDGE AND EXPERIENCE: Intermediate knowledge of individual and corporate taxation. Completion of PPC Tax Staff Training—Levels 1–3 or equivalent is recommended. COURSE TYPE: Seminar COURSE LENGTH: 3 days ADVANCED PREP: None RECOMMENDED CPE CREDIT: 24 hrs. COURSE LEVEL: Intermediate/Advanced FIELD OF STUDY: Taxation cl.thomsonreuters.com/A 800.387.1120 73 TaxWatch University Tax Staff Training – Level 4 TX4F MAJOR TOPICS: PARTNERSHIPS AND OTHER ENTITIES PROJECT MANAGEMENT Formation and basis considerations Guaranteed payments Basis, including Sec. 754 election Special allocations, elections, and distributions LLC members and self-employment tax Business succession, termination or liquidations, buy-sell agreements LEADERSHIP AND SUPERVISION CORPORATE STRUCTURES Selecting accounting methods, and tax year Formation of entity Stock incentives Personal service corporations and personal holding companies Accumulated earnings, excessive passive income, and AMT taxes Built in gains tax Qualified subchapter S corporation subsidiaries Buying/selling a business Installment sales Liquidations Fringe benefit, stock option, and retirement plans Nexus Capital gains planning (including 3.8% net investment income tax) Rental and passive activities Self employment tax Alternative minimum tax Individual and self-employed persons retirement accounts Debt discharge (COD) Beneficiary designations Divorce Education planning Decedent’s final return OTHER TAX PLANNING TOPICS Choice of business entity considerations Lifetime giving strategies and charitable giving Consideration of trusts (basics) Estate planning (basics) cl.thomsonreuters.com/A 800.387.1120 Leadership styles Motivation Feedback Delegation On-the-job learning ETHICS INDIVIDUAL Five common phases of project management Steps within each phase of project management Actions and strategies for effectively managing projects 74 CHECKPOINT LEARNING® AUDITWATCH TRAINING SOLUTIONS TAXWATCH UNIVERSITY TAX STAFF TRAINING—LEVEL 5 TX5F This program is designed for seasoned tax professionals who would like to develop skills in areas beyond the technical arena. This program focuses on business skills critical for professionals, such as practice development, management, and communication. In addition, the course contains timely technical tax topics and updates as appropriate. LEARNING OBJECTIVE: To enable participants to contribute to their firm through application of enhanced leadership, communication, and practice development skills. COURSE FEATURES: Leadership skills assessment Personal productivity and other individual skill development Case studies, exercises, and practice applying the important skills addressed within this program Technical tax update material DESIGNED FOR: Experienced tax professionals REQUIRED KNOWLEDGE AND EXPERIENCE: Multiple years experience in public accounting and current or pending supervisory/managerial responsibilities. COURSE TYPE: Seminar COURSE LENGTH: 2 days ADVANCED PREP: None RECOMMENDED CPE CREDIT: 16 hrs. COURSE LEVEL: Intermediate FIELD OF STUDY: Personal Development 12 hrs.; Communication 1 hr.; Taxation 3 hrs. cl.thomsonreuters.com/A 800.387.1120 75 Tax Watch University Tax Staff Training – Level 5 TX5F MAJOR TOPICS: Leadership List and apply key leadership skills Understand and analyze personal leadership traits using a widely accepted four quadrant behavioral matrix model Understand how to inspire and influence others to achieve results through coaching and performance management Business Development Define the key elements in delivering exceptional client service Describe techniques for managing growth through client service Learn to identify new business opportunities to increase firm revenues Understand and apply methods to create and develop referrals Career Success Strategies Explore opportunities to accelerate professional development while achieving greater work life balance Learn and apply a structured model to set and achieve goals Identify and practice techniques to execute multiple engagements and assignments with changing priorities and deadlines Advanced Communication and Negotiation Essentials Gain techniques to communicate more effectively Learn skills to better handle challenging conversations Describe and apply collaborative negotiation skills that enable business success Tax Update Current technical tax update Expected impact of current or pending changes cl.thomsonreuters.com/A 800.387.1120 76 CHECKPOINT LEARNING® IN-HOUSE SEMINARS CURRENT DEVELOPMENTS IN ACCOUNTING AND AUDITING AAMF The accounting profession continues to evolve as standard setting bodies evaluate new standards and re-evaluate old ones. This module focuses on recent pronouncements from standard setting bodies, including the AICPA and FASB that affect accounting, auditing, and financial reporting for business entities. Emphasis is placed on knowledge and awareness of the new standards and pronouncements. LEARNING OBJECTIVE: To provide participants with an understanding of new accounting and auditing standards and developments that affects the preparation of financial statements and the conduct of audits MODULE FEATURES: Review of new accounting pronouncements Review of recently issued auditing standards and practice guidance Consideration of outstanding exposure drafts and emerging issues COURSE TYPE: Seminar COURSE LENGTH: 4 hrs. ADVANCED PREP: None RECOMMENDED CPE CREDIT: 4 hrs. COURSE LEVEL: Update FIELD OF STUDY: Accounting, 3 hrs.; Auditing, 1 hr. cl.thomsonreuters.com/A 800.387.1120 77 CHECKPOINT LEARNING® IN-HOUSE SEMINARS AUDIT SAMPLING ASMF This module provides a high level overview of the use of audit sampling in an audit. It provides tips for the most efficient and effective approach to audit sampling and is based on the PPC audit sampling practice aids. LEARNING OBJECTIVE: To increase participant’s effective and efficient use of audit sampling. MODULE FEATURES: Overview and tips for using PPC Practice Aids Sample planning and evaluation for substantive tests Sample planning and evaluation for tests of controls COURSE TYPE: Seminar COURSE LENGTH: 2 hrs. ADVANCED PREP: None RECOMMENDED CPE CREDIT: 2 hrs. COURSE LEVEL: Basic FIELD OF STUDY: Auditing cl.thomsonreuters.com/A 800.387.1120 78 CHECKPOINT LEARNING® IN-HOUSE SEMINARS ADVANCED TOPICS IN AUDITING GOVERNMENTAL ENTITIES AUGF This session focuses on advanced accounting and auditing issues unique to performing audits of governmental entities. Topics include common practice and implementation issues relating to recent standards and recent risk alerts. LEARNING OBJECTIVE: To perform more efficient and effective audits of governmental entities. COURSE FEATURES: Discussion of advanced practice issues appropriate for experienced auditors Using certain PPC forms and practice aids in performing governmental organization audits DESIGNED FOR: Auditors in public practice that are responsible for performing audits of governmental entities. REQUIRED KNOWLEDGE AND EXPERIENCE: Basic knowledge and experience with governmental GAAP COURSE TYPE: Seminar COURSE LENGTH: 4 hrs. ADVANCED PREP: None RECOMMENDED CPE CREDIT: 4 hrs. COURSE LEVEL: Advanced FIELD OF STUDY: Accounting, (Governmental), 2 hrs.; Auditing (Governmental), 2hr.; Qualifies for Yellow Book CPE cl.thomsonreuters.com/A 800.387.1120 79 CHECKPOINT LEARNING® IN-HOUSE SEMINARS ADVANCED TOPICS IN AUDITING NONPROFIT ORGANIZATIONS AUNF This module focuses on advanced accounting and auditing issues unique to performing audits of nonprofit organizations. Topics include common practice and implementation issues relating to recent standards and recent risk alerts. LEARNING OBJECTIVE: To perform more efficient and effective audits of nonprofit entities. COURSE FEATURES: Discussion of advanced practice issues appropriate for experienced auditors Using certain PPC forms and practice aids in performing nonprofit organization audits DESIGNED FOR: Auditors in public practice that are responsible for performing audits of nonprofit organizations. REQUIRED KNOWLEDGE AND EXPERIENCE: Basic knowledge and experience with nonprofit GAAP COURSE TYPE: Seminar COURSE LENGTH: 4 hrs. ADVANCED PREP: None RECOMMENDED CPE CREDIT: 4 hrs. COURSE LEVEL: Advanced FIELD OF STUDY: Accounting, 2 hrs; Auditing, 2 hrs. cl.thomsonreuters.com/A 800.387.1120 80 CHECKPOINT LEARNING® IN-HOUSE SEMINARS KEY ISSUES IN COMPILATION, REVIEW, AND FINANCIAL STATEMENT PREPARATION ENGAGEMENTS CRMF This module addresses some of the key issues involved in conducting compilation and review engagements; including guidance related to the new financial statement preparation service. Upon completion of this module participants will be able to identify and effectively address key issues that affect the conduct of compilation, preparation, and review engagements. LEARNING OBJECTIVE: To enable participants to recognize and appropriately address certain key issues, which affect compilation and review engagements. MODULE FEATURES: Recent developments; including clarified SSARS 21 standards Discussion of the new financial statement preparation service AICPA’s Compilation and Review Alert COURSE TYPE: Seminar COURSE LENGTH: 2 hrs. ADVANCED PREP: None RECOMMENDED CPE CREDIT: 2 hrs. COURSE LEVEL: Basic FIELD OF STUDY: Auditing cl.thomsonreuters.com/A 800.387.1120 81 CHECKPOINT LEARNING® IN-HOUSE SEMINARS PROFESSIONAL ETHICS FOR ACCOUNTANTS— SELECTED TOPICS UPDATE ETMF This module is designed to enhance your understanding of morality and ethics, ethical principles, and the moral decisionmaking process. The criteria for ethical decision-making will be discussed along with the framework for making moral decisions. Discussion will also include quality control requirements and a review of the AICPA Code of Professional Ethics. LEARNING OBJECTIVE: To enable participants to implement a personal decision-making process to resolve ethical issues. MODULE FEATURES: Ethics and ethical behavior in business decision-making Review of the AICPA DESIGNED FOR: CPAs and individuals at all organizations and at all organizational levels. REQUIRED KNOWLEDGE AND EXPERIENCE: None. COURSE TYPE: Seminar COURSE LENGTH: 2 hrs. ADVANCED PREP: None RECOMMENDED CPE CREDIT: 2 hrs. COURSE LEVEL: Basic FIELD OF STUDY: Regulatory Ethics, 1 hr.; Behavioral Ethics, 1 hr. cl.thomsonreuters.com/A 800.387.1120 82 CHECKPOINT LEARNING® IN-HOUSE SEMINARS FASB UPDATE FAMF This module is designed for accountants in public practice or industry who need to brush up on recent accounting pronouncements that affect financial reporting. The latest accounting standards updates, exposure drafts, and guidance will be discussed. LEARNING OBJECTIVE: To enable participants to understand recent accounting changes important to accountants in industry. MODULE FEATURES: Review of new accounting pronouncements Consideration of outstanding exposure drafts and emerging issues Review of special accounting and reporting problems COURSE TYPE: Seminar COURSE LENGTH: 4hrs. ADVANCED PREP: None RECOMMENDED CPE CREDIT: 4 hrs. COURSE LEVEL: Update FIELD OF STUDY: Accounting cl.thomsonreuters.com/A 800.387.1120 83 CHECKPOINT LEARNING® IN-HOUSE SEMINARS FINANCIAL STATEMENT DISCLOSURES FSMF Authoritative pronouncements mandate many types of disclosures but do not mandate the manner of presentation. Some disclosures are best presented in separate notes rather than in the basic financial statements. This module examines the requirements, form, and style of required financial statement disclosures. LEARNING OBJECTIVE: To enable participants to identify and properly develop mandatory financial statement disclosures. MODULE FEATURES: Form and style considerations Determining necessary disclosures Common problems in preparing frequent disclosures Common problems in preparing general disclosures The disclosure checklist COURSE TYPE: Seminar COURSE LENGTH: 4 hrs. ADVANCED PREP: None RECOMMENDED CPE CREDIT: 4 hrs. COURSE LEVEL: Basic FIELD OF STUDY: Accounting cl.thomsonreuters.com/A 800.387.1120 84 CHECKPOINT LEARNING® IN-HOUSE SEMINARS GOVERNMENTAL ACCOUNTING AND AUDITING UPDATE GVMF This update will focus on recent pronouncements that affect the financial accounting and auditing for governmental units. Emphasis will be on practical application of the new standards and pronouncements. Course features include: accounting standards affecting governmental organizations, new auditing standards and new OMB requirements. LEARNING OBJECTIVE: To provide participants with an understanding of new accounting and auditing standards applicable to governmental units. MODULE FEATURES: Accounting standards affecting governmental organizations New auditing standards New GAO and OMB requirements COURSE TYPE: Seminar COURSE LENGTH: 4hrs. ADVANCED PREP: None RECOMMENDED CPE CREDIT: 4 hrs. COURSE LEVEL: Update FIELD OF STUDY: Accounting (Governmental), 2 hrs.; Auditing (Governmental), 2 hrs.; Qualifies for Yellow Book CPE cl.thomsonreuters.com/A 800.387.1120 85 CHECKPOINT LEARNING® IN-HOUSE SEMINARS NONPROFIT ACCOUNTING AND AUDITING UPDATE NPMF This update will focus on recent pronouncements that affect the financial accounting and auditing for nonprofit organizations. Emphasis will be on practical application of the new standards and pronouncements. Discussion will also include new GAO and OMB requirements. LEARNING OBJECTIVE: To provide participants with an understanding of new accounting and auditing standards applicable to nonprofit organizations. MODULE FEATURES: Accounting standards affecting nonprofit organizations New auditing standards New GAO and OMB requirements COURSE TYPE: Seminar COURSE LENGTH: 4hrs. ADVANCED PREP: None RECOMMENDED CPE CREDIT: 4 hrs. COURSE LEVEL: Update FIELD OF STUDY: Accounting, 2 hrs.; Auditing, 2 hrs. cl.thomsonreuters.com/A 800.387.1120 86 In‐HouseInstructors Pete Bieghler, CPA, specializes in providing audit effectiveness and efficiency training, as well as additional training services for accounting firms and government agencies throughout North America. AW Before joining AuditWatch, Pete was a Senior Audit Manager at Katz, Sapper & Miller (KSM) in Indianapolis. At KSM, he was a member of the firm’s Audit Efficiency Task Force. Prior to KSM, Pete was an Audit Manager at Crowe Chizek in Elkhart, IN and Indianapolis, IN. Pete is a member of the American Institute of Certified Public Accountants. He earned his undergraduate degree from Ball State University. Wendy Hassiepen, CPA, owns a Certified Public Accounting Firm in Newark Delaware that provides tax consulting and compliance services for individuals and small businesses in the Mid-Atlantic region. Wendy’s focus is on high wealth individual return preparation as well as practice management. Wendy was previously with KPMG in Philadelphia, PA as well as a local firm in Delaware. She also has many years of banking management to her credit. TW Wendy graduated from the University of Delaware with a Bachelor’s degree in Accounting. Wendy is a member of the Delaware Society of Certified Public Accountants and an Adjunct Professor at the Delaware Technical and Community College. 87 Wayne Kerr, CPA, is a senior consultant for Thomson Reuters. His duties include developing new CPE products, managing course content, teaching A&A Update courses and consulting with firms throughout the country. AW Wayne specializes in audit methodology and audit productivity consulting; working with firms to improve audit quality and efficiency, develop, refine and implement audit methodologies, and reengineer audit strategies and testing approaches. Before joining Thomson Reuters, Wayne worked for Grant Thornton; serving audit clients in various industries. He also had quality assurance duties and training responsibilities for his business unit. Wayne is a member of the American Institute of Certified Public Accountants and holds BS and MA degrees from Brigham Young University. Jennifer M. Kowal, JD, has been a tax professor and the director of the graduate tax program at Loyola Law School in Los Angeles since 2003. Loyola’s graduate tax program offers an LLM in Taxation for attorneys and a Master in Tax Law for non-lawyers. Professor Kowal teaches courses in advanced income taxation, income tax timing issues, corporate taxation, and tax research, among others. TW Prior to teaching at Loyola, Professor Kowal taught in the International Tax Program at Harvard Law School. She also practiced law with the firms of Irell & Manella in Los Angeles and Ropes & Gray in Boston, advising clients on the taxation of various business transactions, including cross-border, partnership and corporate structures. Professor Kowal holds a BS in Accounting with distinction from the University of Kansas, and a JD from UCLA School of Law where she was a member of the Order of the Coif. 88 Sonya Laney, CPA, is an experienced instructor of tax staff training. Sonya owns and operates her own accounting and tax practice, where she prepares corporate, personal and estate and gift returns. Additionally, she assists her clients in performing corporate accounting, payroll services, and general business support to corporate clientele. TW Her clients include corporations in the construction, education, service, restaurants, bars, engineering and professionals, medical, and consulting fields. She also represents clients in IRS and Sales and Use tax audits. Sonya graduated from Stetson University with both Bachelor’s and Master’s degrees. She is also a professor at Stetson University in DeLand, FL. Sonya is Vice Chairperson for the City of Port Orange Civil Employees Pension Board, holds a seat on the City of Port Orange Planning Commission and Districting Commission, and is a member of the FICPA and AICPA. PPC Susan C. Longo, CPA, provides financial reporting services to industry and CPA practices throughout the United States and Canada. After graduating from the University of Michigan, she joined a national accounting firm, where she received extensive auditing experience with governmental agencies, Fortune 500 companies, and in business consulting. She also has been associated with practices in Pennsylvania, New Jersey, Michigan, and Texas. She served as director of development for the AICPA and as accounting department/MBA chair for two universities. She has expertise in compliance auditing for nonprofit organizations, governmental entities, employee benefit plans, HUD, financial institutions, CIRAs, and contractors. She has authored, edited, and instructed courses in accounting, auditing, nonprofits, and governmental entities for PPC and other leading providers in the continuing professional education field. She has been recognized as an “Outstanding Instructor” by numerous state CPA societies. 89 Troy Manning, CPA, has over twenty years of diverse experience in the government and the not-for-profit sectors. As a former partner at a regional public accounting firm, she provided audit, accounting and consulting services to cities, counties, school districts, special purpose governments and various types of not-for-profit organizations. She also has extensive experience in compliance requirements related to the federal single audit. AW Recognized as a government and not-for-profit expert, Troy has been a featured speaker at many seminars and has authored articles related to the public sector that have been published in the Florida CPA Today magazine and the AICPA Journal of Accountancy. Troy received her Bachelor of Business Administration from Florida International University and her Master of Accounting from Nova University. She is a member of the American Institute of Certified Public Accountants (AICPA). Troy is also a member of the Florida Institute of Certified Public Accountants (FICPA), where she served for eight years on the Accounting Principles and Auditing Standards Committee and has served on the Editorial Committee of the Florida CPA Today magazine for nine years. Chris Martin, CPA, has been with AuditWatch since 2003. AW Prior to working with AuditWatch, Chris’s public accounting career included such positions as Senior Manager at Andersen, where he specialized in manufacturing, distribution, and logistics, and as CFO for an SEC-registered communications company. At Andersen, Chris was also a regular faculty member at its Worldwide Centre for Professional Education. Immediately prior to joining AuditWatch, he worked as a financial, management and accounting entrepreneur in the southeast US and Hamilton, Bermuda. Chris received his finance and accounting education at The Florida State University in Tallahassee, Florida. 90 Sunish Mehta is a Management Consultant with over 20 years of experience in Advisory and Assurance services. Sunish has his own consulting practice based in Southern California. Prior to this he has worked at Ernst & Young, PricewaterhouseCoopers & IBM Global Business Services. AW He has also instructed courses in Financial Auditing and Accounting on an adjunct basis for the UCLA Certification of Accounting Program. He graduated with a B.S. in Business Administration from the California State University, Northridge. He is a CPA, CGMA and CITP from California. Nate Mohr, CPA, has been on the AuditWatch team since 2004. He also operates his own company where he consults with various companies. He has several years of career experience. In Public Accounting he has worked for local, regional and national accounting firms including Deloitte. On the Corporate side, he worked at BP Amoco in Chicago and Steelcase, Inc., in Grand Rapids. AW Nate earned his MBA from Northwestern University and his undergraduate degree from Central Michigan University. He serves on the board of a national organization. He and his family live in the Grand Rapids Michigan area. Shawn O’Brien, CPA, specializes in delivering audit efficiency and quality and core-level training for accounting firms. Shawn was previously an Audit Senior Manager at Deloitte in Pittsburgh where he specialized in health care, construction contractors and middle market manufacturers. He also taught numerous local and national seminars for Deloitte. Prior to Deloitte, he began his career at Ernst & Young. AW Shawn graduated from Duquesne University with a Bachelor’s degree in Business Administration majoring in accounting. He is a member of the American Institute of Certified Public Accountants. He currently resides in Pittsburgh, Pennsylvania. 91 Timothy O’Brien, CPA, brings over 40 years of tax experience to his appearances. He spent the first 10 years of his professional career with Arthur Andersen and the last 30+ working on his own as a tax consultant. With all his experience, he especially enjoys the interaction with his students as well as discussing the history of the public accounting profession. Many of his students stay in touch with Tim after the class ends, seeking his advice on their career development. He uses “real life” examples obtained through actual CPA practice to reinforce the course learning objectives. TW PPC His areas of expertise includes personal, corporate, and pass-thru entity tax planning and compliance as well as business succession and strategic planning, buying and selling businesses mergers and acquisitions, and special tax and financial needs of senior citizens. In addition to being a CPA, he is also a Certified Merger and Acquisition Advisor. He has had numerous appearances on television, radio and in the print arena. His work has appeared in Fortune Magazine and the Wall Street Journal. He has also been a featured speaker before numerous professional and civic groups. In his spare time, he enjoys being with his family including 6 grandchildren. He is also still an active baseball player on the senior circuit as well as being a varsity baseball coach in Virginia. Jennifer Pickles has been instructor on the AuditWatch team since 2007. She specializes in providing audit efficiency and core-level training for accounting firms. In addition to training, Jennifer also participates in the delivery of Thomson Reuters CPE webinars and Learn Live seminars. AW Before joining AuditWatch, Jennifer was previously an Audit Senior Associate at KMPG LLP serving both public and private sector clients where she specialized in manufacturing, consumer business and financial industries. She also taught various training seminars while at KPMG. Jennifer graduated from the California State University, Northridge, with a Bachelor of Science in Accounting and Finance. 92 Robert “Chris” Province, CPA, has over 20 years of experience in delivering, instructing and designing training courses. In addition to his speaking, Chris is currently a self-employed CPA specializing in taxation of high net worth individuals and closely held businesses with clients located in many states throughout the United States. Chris has also served as a tax partner and senior tax member for several local, regional, and national CPA firms. TW PPC Chris earned his Bachelor of Science degree in Accounting and Finance from the California State University, Northridge. He is a member of the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants. Chris has also served as a member of the national AICPA S-Corporation Technical Resource Panel and the Qualifications Committee for the California Board of Accountancy. Chris is a licensed Certified Public Accountant in California and North Carolina. Ericka Racca, CPA, CIA, is Senior Manager of seminar and webinar operations where she manages the day-to-day business operations for the Checkpoint Learning Webinar and AuditWatch public seminar products and services. In addition, she is an instructor on the AuditWatch team providing audit efficiency, quality, and core-level training for accounting firms and is a member of our Audit Technology team. AW Before joining AuditWatch, Ericka's public accounting career included working as a Senior Auditor at Deloitte, where she specialized in manufacturing, high-tech, and financial services companies. Immediately prior to joining AuditWatch, Ericka worked as a Senior Auditor and Acting Audit Manager at The California State University and an Integrated Audit Project Manager at Staples, Inc. Ericka graduated from Assumption College in Massachusetts with a Bachelor of Arts, majoring in Accounting. She is a member of the American Institute of Certified Public Accountants and the Institute of Internal Auditors. 93 Jacquie Songer, CPA, has been an instructor and course developer for AuditWatch University public, in-house and online training courses since 2002. AW Jacquie was previously an Audit Manager at Ernst & Young LLP where she specialized in private and SEC registered healthcare, insurance, manufacturing, and nonprofit clients. Jacquie has more than five years of experience as an executive in corporate finance, accounting, and internal controls. Immediately prior to joining AuditWatch, she served as a COO where she developed and lead system/process implementation teams to drive strategic organizational goals. Jacquie also has a strong passion for personal development, leadership and coaching. Jacquie received a Bachelor of Science—Accounting degree from the College of Business and Management at the University of Maryland and a Masters in Science from Mercer University. Outside of the classroom, Jacquie is also a certified yoga instructor and enjoys travel and the outdoors. Brenda Smith, CPA, is an experienced instructor of tax staff training. Brenda is the founding partner her own firm with over twenty five years of tax and financial management experience. Brenda has both international and domestic tax expertise as well as a proven record of outstanding achievement in providing financial services to a variety of companies and industries. TW Brenda started her career with Deloitte and later became Senior Partner with a large regional firm. Brenda has held financial and tax positions with manufacturing, healthcare, telecommunications, retail and not-for-profit companies. Brenda’s unique background includes developing and implementing business strategies while improving risk management through internal controls, software systems and other processes and procedures. Brenda has been instrumental in developing and implementing programs for companies to become compliant with Sarbanes Oxley requirements. Brenda is a financial operations principal and consults with financial services companies regarding SEC compliance. Brenda received her Bachelor of Science degree in Accounting from Louisiana State University in Baton Rouge, Louisiana. Brenda is a Certified Public Accountant, Certified Financial Planner and Certified Internal Auditor. Brenda is a member of the American Institute of Certified Public Accountants and the Pennsylvania Institute of Certified Public Accountants. 94 John M. Stevko, CPA, began his career with Peat, Marwick, Mitchell & Co. in Oakland, CA. He later started his own firm in Beaverton, OR, specializing in individual and small business tax, accounting and consulting. John has been lecturing and writing for Gear Up for over 20 years. He continues to be a sought after speaker on tax topics for CPAs and other accounting professionals across the country and via web-based presentations. PPC John currently lives in Southwest Washington, where he operates a tax practice serving individuals and small businesses. Laurie A. Stillwell, CPA, runs her own firm with based in Saratoga Springs, NY. She specializes in working with small businesses, professional practices, and their owners. In addition to her practice, Ms. Stillwell teaches webinars and live continuing professional education seminars nationally on ethics, and business and individual income tax issues for Thomson Reuters Tax & Accounting. PPC TW She is the author and editor of several continuing professional education texts, as well as published articles on budgeting, financial literacy and cash-flow management, as well as tax and accounting issues faced by professionals and small business owners. Prior to forming her own firm in 2001, Ms. Stillwell spent more than a decade with local and regional accounting firms and specialized in providing tax and accounting services to closely-held businesses. She began her public accounting career with the international firm of Price Waterhouse, in Boston, Massachusetts. Ms. Stillwell graduated summa cum laude from SUNY Albany’s School of Business with a B.S. in Accounting. 95 Jex Varner is a consultant at AuditWatch, part of the Tax & Accounting business of Thomson Reuters. He specializes in delivering relevant and engaging auditing standards, audit effectiveness, efficiency and core level training to accounting firms. Before AuditWatch, Jex spent 16 years at Ernst & Young in various capacities including Audit Senior Manager, Area Director of Recruiting, and West Coast Learning Consultant to the firm. He has audited both large and small public and private companies in the manufacturing, wholesale distribution, high tech, engineering and construction, and oil and gas industries. AW During his 27 year career, Jex has taught thousands of accounting professionals. Jex also has considerable experience in learning vision, strategy, and curriculum development having served in a national learning role with Ernst & Young, as Chief Learning Officer for RSM McGladrey, and as National Director of Technical Development for Grant Thornton. Jex graduated from Brigham Young University with a Bachelors degree in Accounting. He is a licensed CPA in Ohio, a member of the Ohio CPA Society and a member of the AICPA. Julie Wiese, CPA, is a Consultant/Trainer at AuditWatch, part of the Tax & Accounting business of Thomson Reuters. She specializes in teaching AuditWatch University and TaxWatch University training seminars for local and regional CPA firms. In addition to training, Julie provides personal and small business income tax and accounting services to local clients. AW TW Julie previously served as an Audit Manager at Deloitte serving both private and public sector clients. In this capacity, she performed financial statement audits in the financial services, employee benefits and manufacturing industries. Julie also worked with KPMG and with Firstar Corporation as a Controller for one of their regional banks. Julie is a member of the American Institute of Certified Public Accountants and the Illinois CPA Society. She received a B.S. in Accounting from The University of Illinois. 96 GENERAL INFORMATION TO ORDER IN-HOUSE SEMINARS To order In-House Seminars, please call or email Barbara Marino at 800-387-1120. Email: [email protected] PRICING Please see Price List on Page 99. MINIMUMS FOR MATERIALS ONLY ORDERS If you choose to provide your own instructor for courses available in the materials only format, there is a minimum purchase of one instructor guide and five participant manuals. Instructor and participant manuals are not sold separately. ORDER CONFIRMATION/MANUAL SHIPMENT After placing your order, you will receive an order confirmation and engagement letter within 10 business days. After confirming your anticipated attendance two weeks prior to the seminar, course manuals will be shipped to you approximately one week prior to the seminar. At that time, you will also receive a CPE Packet (if your organization is the CPE Sponsor), which includes CPE sponsor requirements, program and instructor evaluation forms, and other administrative information. ADDITIONAL MANUALS Should you need additional manuals or need to alter your order in any way, please contact: Sandra Spurlock at 800-775-9866. Email: [email protected] BILLING AND PAYMENT You will be invoiced on the presentation date for the seminar costs plus shipping and tax where applicable. Payment is due upon receipt of invoice. Instructor travel expenses are not included in program price and are billed separately. RETURNS Returns are not accepted for seminars. Please order only manuals needed. CANCELLATION POLICY There is a $2,000 per day fee for cancellation after engagement letter is executed. The fee will be waived if the course can be rescheduled to a mutually agreeable date within the same calendar year. For more information on our policies regarding refunds, complaints, and program cancellations, contact Sandra Spurlock at 800-775-9866 or [email protected]. 97 DVD SALES In-house DVDs are instructional tools and not self–study products. DVDs are available for purchase only if order includes an instructor guide and a minimum of five participant manuals. A manual must be ordered for each participant. COPYRIGHTED MATERIALS Please note that all courses are copyrighted materials. Reproduction of materials, including videotaping, web and satellite broadcasting, is expressly prohibited by copyright. Additionally, a course manual needs to be purchased for each participant. 98 2015In‐HousePriceList Instructor-Led Courses One-Day Seminars Instructor fee (up to 10 participants) Additional Participants (over 10 participants) $2,999 $ 105 each Two-Day Seminars Instructor fee (up to 10 participants) Additional Participants (over 10 participants) $5,998 $ 210 each Three-Day Seminars Instructor fee (up to 10 participants) Additional Participants (over 10 participants) $8,997 $ 315 each Four-Day Seminars Instructor fee (up to 10 participants) Additional Participants (over 10 participants) $11,996 $ 345 each Technology Courses Mastering the Basics of Data Extraction Instructor fee (up to 10 participants) Additional Participants (over 10 participants) $5,400 $ 279 each Spotting Opportunities to Use Data Extraction Instructor fee (up to 10 participants) Additional Participants (over 10 participants) $2,599 $ 129 each Materials Only Option (when available) AuditWatch University Level 1 Boot Camp Webinar Modules (2 hours each) Eight Hours of Seminar Content $2,500 per module $ 50 per user One-Day Seminars Instructor Guide Participant Manual (Minimum Purchase of 5) $ 350 $ 105 each Two-Day Seminars Instructor Guide Participant Manual (Minimum Purchase of 5) $ 475 $ 210 each 99 Three-Day Seminars Instructor Guide Participant Manual (Minimum Purchase of 5) $ 595 $ 315 each Four-Hour Course Modules Instructor Guide Participant Manual (Minimum Purchase of 5) $ 175 $ 50 each Two-Hour Course Modules Instructor Guide Participant Manual (Minimum Purchase of 5) $ 125 $ 25 each DVD Instructional Tool Federal Tax Update $ 199 These DVDs are only available for purchase with a minimum order of five participant manuals and one instructor guide. Customized Webinars Please call 800-387-1120 for details. AuditWatch Consulting Services Please call 800-775-9866 for details. NOTES *If you choose to provide your own instructor and elect the materials only option, there is a minimum purchase of one instructor guide and five participant course manuals. Instructor and participant course manuals are not sold separately. **Instructor travel expenses are not included in program price and are billed separately. 100 AUDITWATCH TRAINING, CONSULTING AND DATA SERVICES TO LEARN MORE, VISIT CL.THOMSONREUTERS.COM/A. CALL 800.231.1860 FOR PUBLIC SEMINARS OR 800.775.9866 FOR OTHER OPTIONS. AuditWatch serves the audit and accounting profession by providing leading experts to train and consult with firms that offer auditing services. AuditWatch Training for tax, audit and yellow book staff is available in three delivery options: public live seminars, in-house seminars and customized training. Plus, AuditWatch offers consulting, data services, customized course development and more. • The recognized leader in audit productivity • Integrated curriculum for audit professionals and CPA firms, audit process consulting and audit technology services • Public live seminars offer open enrollment in major cities across the country while firm-specific seminars are conducted at your facility and customized training is tailored to meet your staff development needs • Also available: materials only and customized webinar options AuditWatch University, TaxWatch University and Yellow Book University. AuditWatch is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org All courses are delivery method Group-Live; no prerequisites or advance preparation unless otherwise indicated. For more CPE information including descriptions, learning objectives, and administrative policies, visit cl.thomsonreuters.com/A. AUDITWATCH AUDITWATCH CONSULTING Why AuditWatch ? Our Reputation and Experience. We are the premier training and productivity consulting organization for the audit profession, with a customer base built from satisfied customer referrals. We have worked with the majority of Top 100 CPA Firms and several state auditor offices. Our consultants are CPAs who have worked at national, regional and local firms. They have consulted with a diverse array of organizations and industries, reviewed hundreds of engagement files and are familiar with many different audit approaches and audit methodologies. Our Approach. We have experienced consultants who deliver the AuditWatch Experience: a focus on practical advice that applies in the real world, delivered through engaging sessions that promote interaction and participation. Our consulting services are tailored to each engagement, maximizing our time together and your return on investment. Our Successes. Our customers often see immediate positive improvements in quality and efficiency and increased consistency among their teams and offices. Our Expertise. Among efficiency programs, the AuditWatch Productivity Program stands out for its unique combination of productivity tools, professional experience and technical expertise, enabling us to effectively identify issues, make recommendations and work with you to implement solutions. We understand the auditing standards, current practices of today’s auditors and the practical application of current audit methodologies. We also employ tools and concepts such as value stream mapping, waste elimination, DMAIC (Define, Measure, Analyze, Improve and Control) and other quality tools from LEAN, Six Sigma and other approaches to productivity. PROCESS APPROACH Challenging the flow of the process at the firm-wide and engagement-team levels, including: Making changes to the way an audit engagement team plans, executes and documents an audit, including: • Planning • Review • Aligning audit work to audit risk • Client management • Choosing the most efficient mix of audit procedures • Engagement wrap-up • Production of deliverables • Scheduling Focus: Achieving a lean process and eliminating waste. • Eliminating non-value-added procedures and documentation • Reducing errors to minimize review points and rework Focus: Challenging the way things have been done in the past. CONTROL Measuring and controlling audit productivity at the firm-wide and engagement-team levels, including: • Using practical and effective budgets • Identifying key engagement productivity metrics • Analyzing and following up on results • Establishing accountability Focus: Establishing an ongoing process to measure, analyze and improve audit productivity. not only experienced better realization and efficiency but created “ We more opportunity for staff development. Our staff members were better prepared for fieldwork and more engaged with our clients. ” — Bryna Campbell Engel FOR MORE INFORMATION AND SCHEDULING: Call 800.775.9866 cl.thomsonreuters.com/A | 800.231.1860 AUDITWATCH AUDITWATCH CONSULTING AuditWatch Productivity Program The AuditWatch Productivity Program is a change driver designed to improve audit efficiency, quality and profitability. Our consultants work with you to reengineer the following critical aspects of the audit: The AuditWatch Productivity Program Through the highly customized AuditWatch Productivity Program we work with you to determine the best way to identify and address your productivity issues, which may include: • Reviewing audit engagement files, interviewing firm personnel, sending surveys and evaluating your audit methodology to diagnose specific productivity issues and opportunities • Designing a productivity seminar to teach audit quality and efficiency principles, address obstacles and establish consensus about the path forward • Conducting team reengineering workshops or facilitated planning sessions to guide team members in implementing changes to the engagement-level audit process, approach and control • Organizing an audit productivity task force to establish the metrics, responsibilities and accountability for driving the initiative forward AuditWatch Productivity QuickStart The AuditWatch Productivity QuickStart is an affordable solution that provides valuable and practical information about how to prioritize your productivity efforts. Our consultants will review up to four of your audit engagements and provide feedback related to: • • • • • • Efficiency and quality improvement opportunities Execution of the audit methodology Performance of audit procedures Documentation Over- or under-auditing Your audit approach compared to other firms This consulting engagement ends with a web-based meeting to discuss our observations, showing examples from your files and presenting you with a focused list of productivity opportunities and immediate action items. AuditWatch Productivity QuickStart for Review Engagements We will examine two of your review engagement files and look for opportunities to improve quality and efficiency. This program is conducted by experienced AuditWatch consultants and is designed to aid review practitioners and firm leadership in recognizing, framing and prioritizing opportunities for improvement in review engagements. CURRICULUM CONSULTING SERVICES FROM AUDITWATCH AuditWatch consultants will evaluate your firm’s current learning and development program as well as the firm’s approach to delivering continuing professional education (CPE). AuditWatch will conduct a full diagnostic including conducting firm surveys and interviews and reviewing firm training objectives and long term goals. We will provide recommendations for the continued improvement of your program to enable your team to develop professionally and receive more quality and timely continuing professional education (CPE). After we have gained an understanding of your firm’s learning and development needs and objectives, we will make recommendations to your current program that are aligned with your firm’s strategic business goals and industry standards. cl.thomsonreuters.com/A | 800.231.1860 AUDITWATCH SEE BOTTOM OF PAGE FOR DETAILS. PUBLIC SEMINAR SCHEDULES AUDITWATCH UNIVERSITY PUBLIC SEMINAR SCHEDULE Level 1: Basic Staff Seminar City Atlanta Boston Chicago — A Chicago — B Cleveland Dallas/Fort Worth Area Denver Houston Las Vegas Los Angeles Nashville New York City Philadelphia NEW LOCATION! Portland Salt Lake City San Francisco — A San Francisco — B Rockville — A Rockville — B Washington DC Web-Based 4 Days ($1,292) $1,098 Early Bird* 10/27-30 11/3-6 11/10-13 11/17-20 11/3-6 11/10-13 11/10-11 Level 3: Beginning In-Charge Level 4: Experienced In-Charge Level 4.5: Taking the Next Step Level 5: Moving Beyond In-Charge 3 Days ($989) $841 Early Bird* 10/6-8 5/12-14 6/9-11 9/9-11 9/15-17 7/21-23 9/1-3 10/20-22 9/9-11 10/20-22 8/4-6 12/1-3 9/29-10/1 9/9-11 3 Days ($989) $841 Early Bird* 8/4-6 5/19-21 6/16-18 10/20-22 10/6-8 7/28-30 9/9-11 11/3-5 9/22-24 10/5-7 9/15-17 11/17-19 9/22-24 10/27-29 8/25-27 7/21-23 10/27-29 10/27-29 3 Days ($989) $841 Early Bird* 8/11-13 6/2-4 6/23-25 11/17-19 10/26-28 8/11-13 12/2-4 11/10-12 10/20-22 10/28-30 9/22-24 11/2-4 9/1-3 10/6-8 11/17-19 7/28-30 10/5-7 12/1-3 2 Days ($659) $560 Early Bird* 8/17-18 3 Days ($989) $841 Early Bird* 8/19-21 6/16-18 2 Days ($659) $560 Early Bird* 11/12-13 10/29-30 8/25-26 9/1-3 10/20-22 9/16-18 11/10-11 9/24-25 10/8-9 7/27-28 11/5-6 11/10-12 12/1-3 7/29-31 12/8-10 8/3-4 8/3-5 11/17-19 9/9-11 6/23-25 9/29-10/1 10/6-8 12/1-4 9/22-25 1/12-15 (2016) Level 6: Developing the Executive Within Level 2: Experienced Staff 9/29-30 9/14-15 9/22-23 10/8-9 10/1-2 7/21-23 8/11-13 7/28-30 Find out more about web-based new hire training at cl.thomsonreuters.com/a TAXWATCH UNIVERSITY PUBLIC SEMINAR SCHEDULE Seminar City Atlanta Boston Chicago Dallas/Fort Worth Area Los Angeles New York San Francisco Washington DC Level 1 Level 2 Level 3 Level 4 3 Days ($989) $841 Early Bird* 3 Days ($989) $841 Early Bird* 7/28-30 6/23-25 7/14-16 12/8-10 7/8-10 7/28-30 12/8-10 12/15-17 3 Days ($989) $841 Early Bird* 7/21-23 7/14-16 8/4-6 1/5-7 (2016) 6/24-26 8/18-20 12/15-17 12/8-10 3 Days ($989) $841 Early Bird* 7/14-16 10/27-29 12/1-3 7/14-16 11/3-5 7/28-30 1/12-14 (2016) 7/29-31 8/11-13 1/5-7 (2016) 12/1-3 This price per person cost includes course tuition, materials, lunch and snacks. Visit cl.thomsonreuters.com/a, or call 800.231.1860 for public seminars, 800.775.9866 for in-house and customized training YELLOW BOOK UNIVERSITY PUBLIC SEMINAR SCHEDULE Seminar City Day 1 Auditing NFPs and Government Agencies Day 2 Performing Efficient Single Audits Day 3 Government/Nonprofit Update Day 4 Auditing NFPs and Govt Agencies — Advanced 1 Day ($329) $280 Early Bird* 1 Day ($329) $280 Early Bird* 1 Day ($329) $280 Early Bird* 1 Day ($329) $280 Early Bird* 6/2 6/23 6/16 6/9 5/27 6/3 6/24 6/17 6/10 5/28 6/4 6/25 6/18 6/11 5/29 6/5 6/26 6/19 6/12 Chicago Dallas/Fort Worth Area Los Angeles San Francisco Washington DC PREMIER & PREMIER PLUS: Subscription packages include 25% off regular price of AuditWatch public seminars! Combined Gear Up/AuditWatch annual max: 24 hrs Premier, 40 hrs Premier Plus. No expiration. EARLY BIRD DISCOUNT: Save 15% on public seminars! Early Bird prices shown in orange. Expires: May 15, 2015 cl.thomsonreuters.com/A | 800.231.1860 12 Catalog code: CCADM15 AUDITWATCH AUDITWATCH TECHNOLOGY SOLUTIONS Power Play is a consulting service that allows you to work with our experienced auditors to perform analyses and testing of your clients’ data using specialized software. We help you design your tests, obtain electronic data from your clients, perform the analyses and send the results back to you in an easy-to-understand format. No more costly software licenses, extensive training or struggling with your clients to get information! POWER PLAY — INCREASE AUDIT QUALITY AND EFFICIENCY Today’s audit standards all but mandate the use of data extraction software on our engagements. While some firms have chosen to purchase licenses of these software tools and have all of their users trained to use them, many firms may not have that luxury. AuditWatch’s Power Play allows your firm to outsource your data extraction needs to a qualified expert. We can help you: • Harness the power of data extraction on your engagements • Increase quality and efficiency of your audits, specifically in complying with AU-C Section 240 and other audit standards • Eliminate the risk of having your data extraction expertise “walk out the door” • Minimize or eliminate expensive software purchases and maintenance fees Using Power Play allows your engagement team to focus on other important areas, while your data extraction procedures are being performed by our consultants and returned to you for your reporting. This process allows for maximum efficiency on both ends, all while reducing the amount of time (and money!) your staff spends on each audit area. WHAT IS DATA EXTRACTION? Data extraction is a powerful tool that improves the quality of audit evidence with a significant reduction in cost. Data extraction gives you the power to: • Import your clients' electronic financial data • Perform automated audit tasks, such as selecting samples or scanning populations for potential misstatements • Perform audit procedures, such as the review of journal entries required by AU-C Section 240, that are difficult to perform manually • Produce reports with the information you need in the format best suited for audit procedures, such as analytical procedures • Easily analyze reports provided by your client that were earlier considered “ugly” and “unusable” WE’LL HELP YOU UTILIZE DATA EXTRACTION SOFTWARE TO IMPROVE YOUR PROJECTS! CALL 800.775.9866 TODAY. Rounded whole number Holiday Specific text A summary report, created by Power Play, that identified journal entries that met specific audit risks of material misstatements OUR EXPERIENCED AUDITORS AND SOFTWARE SPECIALISTS WILL HELP YOU HARNESS THE POWER OF DATA EXTRACTION SOFTWARE ON YOUR ENGAGEMENTS! cl.thomsonreuters.com/A | 800.231.1860 AUDITWATCH A TYPICAL POWER PLAY ENGAGEMENT IDENTIFICATION AND SELECTION OF PROCEDURES REPORTING AND DOCUMENTATION • We can assist engagement teams in recognizing opportunities to utilize data extraction software to improve their projects. • Teams submit the draft and/or final requests to a secure website that we set up exclusively for your firm's use. Website tools help the auditor to pick and click procedures or just provide suggestions. • We provide the engagement team a price quote for the specific services requested. For very common or repetitive requests, we may offer standard pricing options. • For most projects, we prepare a memo that serves as a main part of the team’s documentation. • For most projects, data files are created with transactions, sample items, analytical procedures, or exceptions that have been created based on the team’s requests. OBTAINING DATA • The engagement team can obtain the data themselves or ask us to assist with this process. • We can work with almost any data format your client can produce. WE’LL HELP YOU UTILIZE DATA EXTRACTION SOFTWARE TO IMPROVE YOUR PROJECTS! Visit cl.thomsonreuters.com for additional information about our technology solutions. DATA PROCESSING • We perform the procedures you request and generate the results. • We confer with the engagement team as we perform the procedures to address any surprises or issues that we identify. IN-HOUSE DATA EXTRACTION SOFTWARE TRAINING MASTERING THE BASICS OF DATA EXTRACTION SOFTWARE 16 CPE CREDITS | AUDITING, SPECIALIZED KNOWLEDGE AND SPOTTING OPPORTUNITIES TO USE DATA EXTRACTION SOFTWARE APPLICATION | BASIC 4 CPE CREDITS | AUDITING | OVERVIEW This hands-on computer course is for new users of data extraction software and those who want to review basic and intermediate software functions. Participants learn to: • Master the key commands and functions of IDEA software • Identify numerous applications of the software • Obtain and import basic and complex data files typically received from clients • Understand the software’s reporting features and workpaper assistance tools • Use software-driven results to make audit conclusions Seminar Price (up to 10 participants): $5,400, includes instructor fee and course materials for up to 10 participants. Additional Participants: $279 per participant (maximum size of program is 16 participants) plus out-of-pocket expenses. Each participant must bring a computer with the current version of IDEA already loaded and a license key (if applicable). Ideal for firms seeking to expand their use of data extraction based procedures. This course helps engagement decision-makers recognize situations where their teams can use data extraction to improve quality and efficiency. Participants learn to: • Assess the cost-benefit of using data extraction software on specific engagements • Identify basic and creative uses of the software (including the latest innovative applications to help comply with emerging audit standards) • Interpret, document and communicate results to clients • Identify ways to use data extraction software as a marketing tool to prospective clients Seminar Price: $2,599, includes instructor fee and course materials for up to 10 participants. Additional participants: $129 per participant plus out-of-pocket expenses. Check our website for additional information on our data extraction solutions: cl.thomsonreuters.com cl.thomsonreuters.com/A | 800.231.1860 CPE NETWORK TIMELY NEWS AND IN-DEPTH ANALYSIS FOR MORE INFORMATION, VISIT CPEASY.COM/FIRMCAT OR CALL 800.874.0304. Group-study videos deliver timely news and in-depth analysis for better risk management, plus group-live credits. CPE Network® — a news-style video subscription featuring indepth, useful interviews with today’s foremost industry experts. You’ll receive a new issue 11 times per year or quarterly, depending on your choice of report(s). Subscriptions allow for up to 25 users (or call for large group pricing). • • • • • Conduct an expert-led, in-house seminar for group live credit Satisfy up to 100% of your workforce’s CPE requirements Set a standard of excellence for your firm-wide training Build a company-wide reference library Keep your staff updated on the latest AICPA, FASB and SEC developments • Provide weekly tax podcast updates • Convenient DVD format allows you to pause to discuss the implications for your firms and clients • Each program issue includes a DVD, full transcript, group discussion questions and suggested answers, supplemental reference material and a cumulative index and quiz Bisk CPEasy is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org. CPE NETWORK MONTHLY VIDEO SUBSCRIPTIONS STANDARDIZE COMPLIANCE CPE NETWORK TAX REPORT 33 CPE CREDITS | TAXES | UPDATE | $899 Prepare your staff to meet the challenges of today’s rapidly changing tax laws and regulations. Each issue of this monthly report features top experts discussing today’s important taxation issues for individuals, estates and trusts, corporations and pass-through entities. Approved for CFP® continuing education (CE) credits! Experts include: E. Lynn Nichols, CPA — nationally known tax author and an advisor to CPA firms across the country; John L. Norman, Jr., JD — former National Director of Taxation with Pannell Kerr Forster (PKF) and nationally known author and tax attorney in private practice in Washington, D.C. CPE NETWORK GOVERNMENTAL AND NONPROFIT ACCOUNTING REPORT 33 CPE CREDITS | ACCOUNTING & AUDITING | 24 CPE CREDITS | ACCOUNTING & AUDITING UPDATE | $899 (GOVERNMENTAL) | UPDATE | $899 Recent accounting scandals have placed companies and individuals under the microscope of intense scrutiny for compliance. This popular subscription features high-quality group training that equips your entire team with the knowledge to handle any fiscal or financial crisis. Experts include: J. Russell Madray, CPA, CIA, CMA, CFM/President of The Madray Group A must-view for firms looking to stay ahead of the competition, this essential report will establish a quality standard for your company. Your subscription will keep your staff abreast of governmental and nonprofit changes as they occur. Experts include: Betty A. Pendergrass, CPA, CGFM, Governmental Management Advisory Services CREDITS CREDITS 33 CPE CREDITS 24 CPE CREDITS $899 $699 Included 24 CPE CREDITS Included 33 CPE CREDITS CREDITS 33 CPE CREDITS CPE NETWORK ACCOUNTING AND AUDITING REPORT $899 $699 ONE-YEAR SUBSCRIPTION (4 ISSUES) ONE-YEAR SUBSCRIPTION (11 ISSUES) $899 Included 33 CPE CREDITS $899 ONE-YEAR SUBSCRIPTION (11 ISSUES) CPE NETWORK COMBO PACKAGES ENJOY GREAT SAVINGS! Get even more of the news your firm needs with a CPE Network combination report! These value-priced packages empower your staff with essential information, in-depth analysis and valuable CPE credits. Each multi-report collection creates a seamless relationship between firm-wide training and day-to-day business objectives. CPE NETWORK ACCOUNTING AND AUDITING AND GOVERNMENTAL AND NONPROFIT ACCOUNTING REPORTS SAVE $399 CREDITS CREDITS 57 CPE CREDITS 57 CPE CREDITS CPE NETWORK TAX AND ACCOUNTING AND AUDITING REPORTS SAVE $549 — MOST POPULAR PACKAGE 66 CPE CREDITS $1,199 Included $1,199 ACCOUNTING & AUDITING (11 ISSUES) GOVERNMENTAL & NONPROFIT ACCOUNTING (4 ISSUES) CREDITS $1,249 66 CPE CREDITS TAX AND ACCOUNTING & AUDITING (11 ISSUES) CPE NETWORK TAX, ACCOUNTING AND AUDITING AND GOVERNMENTAL AND NONPROFIT ACCOUNTING REPORTS SAVE $772 Included $1,249 90 CPE CREDITS 90 CPE CREDITS $1,725 Included $1,725 TAX & ACCOUNTING & AUDITING (11 ISSUES) GOVERNMENTAL & NONPROFIT ACCOUNTING (4 ISSUES) GETTING STARTED IS EASY! 800.874.0304 | cpeasy.com/firmcat cpaexam.com/CPL | 1-855-300-9392 CHECKPOINT LEARNING COMPLETE LEARNING MANAGEMENT FOR TAX, ACCOUNTING AND FINANCE PROFESSIONALS FOR MORE INFORMATION, CALL 800.231.1860. Checkpoint Learning provides CPE compliance tracking, learning management, curriculum development and more. • Purchase and complete courses individually or as part of a subscription package — CPE Subscription Packages provide outstanding offerings and flexibility at considerable savings (Page 30) • Optimized for tablet view on your iPad mobile device • Personalized learning dashboard keeps all CPE records and courses in one place and provides CPE tracking and compliance monitoring while learning plans help meet individual goals • Learning plans help meet individual employee training and career advancement goals • ONESOURCE© integration allows dual users to search for CPE courses, view in-progress courses and status report manager ONLINE LEARNING LEARNING MANAGEMENT TOOLS Checkpoint Learning is the most comprehensive mandatory continuing education compliance management system available and is specifically designed for accounting and financial professionals. REQWIRED TOOLS — NOW PART OF CHECKPOINT LEARNING Checkpoint Learning integrates the best of the many tools and features first seen in Reqwired to manage all facets of learning for accounting and financial professionals. The Reqwired tools within Checkpoint Learning provide a comprehensive learning management and CPE tracking experience, incorporating: • Compliance management, including complete tracking of state-to-state regulations and requirements • Guidance for administering in-house learning • Customizable, individual learning paths for employees and tools to measure course completion In short, our learning management system (LMS) includes the most comprehensive mandatory continuing education compliance management system ever created. Checkpoint Learning was developed with accounting firms in mind; thus, implementation is immediate and effortless. COMPLETE CPE TRACKING AND COMPLIANCE MANAGEMENT Checkpoint Learning manages continuing education compliance, including: • Determining compliance periods and managing simultaneous compliance periods • Tracking all credit categories, including prorated credit requirements • Enforcing limits on CPE format types • Calculating carryover credit • Managing adjustments for reporting period extensions • Tracking special requirements for new licensees • Giving Firm Administrators full view of the compliance status of Firm Professionals • Sending reminders of CPE CPE RULES TRACKING compliance status by email AND COMPLIANCE MONITORING FOR: In addition, our staff ensures the • CPA: Every state in the accuracy of Checkpoint Learning United States (plus through monthly rule updates that Puerto Rico) are automatically integrated into • Yellow Book the tracking system. Checkpoint Learning’s tracking system is • IRS PTIN Holders programmed with the CPE rules (including Enrolled for individuals of every state in Agents) the United States (plus Puerto • AICPA members Rico). We track requirements for • CTEC, CMA, CFP, CIA all jurisdictions shown in the box at right, plus more than a dozen additional specialty tax and accounting affiliations. Your firm can even create an in-firm CPE requirement to track minimum education requirements established by firm management or mandated by peer review standards. Checkpoint Learning also maintains complete and updated rule summaries for every regulator it tracks on its resource page so that administrators can easily answer employees’ questions about continuing education compliance. Learning administrators are provided with an administrative view into all firm personnel records so that CPE compliance can be quickly confirmed. Checkpoint Learning can be configured to send employees regular email reminders informing them of their continuing education status. Contact us today to discuss your training needs and begin building a learning plan that’s right for you! cl.thomsonreuters.com | 800.231.1860 ONLINE LEARNING MANAGING YOUR IN-HOUSE SEMINARS Reqwired learning management tools, within the Checkpoint Learning platform, guide firms through the process of offering and administering in-house learning opportunities. While robust enough for any type of learning event, our learning management system (LMS) is uniquely suited for CPE-accredited courses. Employees will value the simplicity of searching, registering for and, where applicable, launching classes through the intuitive learner interface. Administrators will value the time-saving tools for each aspect of in-house education. SELF-SERVICE COURSE REGISTRATION Learners can browse the university course calendar and register for courses or register for courses directly from email invitations. Registrants receive email confirmation with downloadable appointments that are ready for import into personal calendar software like Outlook and Lotus Notes. Other features include: • Registration caps and waitlists • Preformatted and customizable sign-in sheets • Post-course evaluations • Electronic attendance certificates • Name tags and name tents • Course material storage BEYOND CPE COMPLIANCE Professional development is more than counting CPE credits. Leading firms design targeted learning curricula to give employees the skills necessary for success in every phase of their careers. Professional development is more than counting CPE credits. Leading firms design specific learning paths to give employees the tools necessary for success in each phase of their careers. Our learning path module provides firms the framework to: • Set clear learning expectations for their employees • Analyze firm-wide progress with professional development goals LEARNING PLAN TEMPLATES Checkpoint Learning’s LMS allows firms to design various learning plans to match levels within the organization and/ or competencies they want employees to achieve. Professional development managers can assign one or more path templates to each employee, indicating target dates for course completion and whether particular learning is mandatory or optional. Firms can further use this system to: • Customize learning plans for individuals • Generate firm-wide reports to measure the degree to which employees are meeting learning expectations cl.thomsonreuters.com | 800.231.1860 SPECIAL FEATURES COACH ACCOUNTS Checkpoint Learning can provide team leaders with direct access to their team members’ CPE information, learning plans and course registrations. A team leader, a.k.a. "coach," can receive email updates on his/her team’s CPE compliance progress, adjust a team member’s training plan as needed and receive email notifications when team members register for courses. Coach accounts are a great way to empower team leaders to actively supervise their teams’ learning. Call or visit us online to learn more about Checkpoint Learning, powered by Reqwired tools, today! 800.231.1860 | cl.thomsonreuters.com CHECKPOINT LEARNING CPE SUBSCRIPTION PACKAGES INCREASE LEARNING OPTIONS AND SAVE MONEY FOR MORE INFORMATION, CALL 800.231.1860. Checkpoint Learning CPE Subscription Packages provide an opportunity to save money by bundling together the learning opportunities that matter most to you and your employees. Choose from the Premier, Premier Plus, Compliance or Professional CPE Package — all of which provide a range of learning options at significant savings. • One low subscription price covers all CPE for the year in a variety of formats • Packages include online and download courses, webinars, live seminars and conferences and more • CPE tracking and compliance monitoring included • Select courses available with iPad-enabled mobile versions ONLINE LEARNING SEE BOTTOM OF PAGE FOR DETAILS. CPE PREMIER AND PREMIER PLUS PACKAGES If you haven’t subscribed to a Checkpoint Learning CPE Package, we invite you to take a look at how this industry-changing approach to learning can save you time and money and help keep you at the top of your game with the knowledge and skills you need to serve your clients. Hundreds of online courses and webinars — all for $309* The Premier CPE Package provides an unprecedented range of learning options at significant savings! Includes: • ONLINE AND DOWNLOAD COURSES. Unlimited access to interactive online courses from MicroMash and PASS Online and PPC's downloadable self-study courses with online grading. This includes more than 450 titles, totaling 2,500+ CPE credits! New: Mobile courses! All titles with iPad-enabled mobile versions are included with your Premier or Premier Plus subscription. • WEBINARS. Unlimited one- to four-hour webinars (approx. 360 annual events), plus discounts on select full-day webinars. • LEARNING MANAGEMENT. Online CPE tracking and compliance monitoring for every state board of accountancy requirement and more than 20 professional designations, including IRS EA and CFP. >>> • LIVE SEMINARS AND CONFERENCES. Annual discounts on 24 hours total per subscription year: 40% off Gear Up self-sponsored seminars and conferences and 25% off AuditWatch! PREMIER PLUS PACKAGE Longer webinars, deeper discounts, more features for $449* We've taken the popular Premier CPE Package and added even more in response to customer feedback! Choose Premier or Premier Plus and receive great value for the low annual subscription cost with either option. The Premier Plus CPE Package includes all of the learning options listed at left, PLUS: • WEBINARS. Unlimited access to ALL webinars including popular fullday webinars! • COMPETENCY MODEL. A comprehensive model for assessing, improving and connecting your CPE to tax and accounting specialties, skills and career levels. • LIVE SEMINARS AND CONFERENCES. Now save on up to 40 hours annually per subscription from our popular seminar and conferences lines (save 40% on Gear Up self-sponsored, 25% on AuditWatch). NEW FEATURES FOR PREMIER AND PREMIER PLUS SUBSCRIBERS: Virtual Conferences: 45% savings — attend a virtual conference for only $199 Premier Plus Subscribers can also attend the Year-End Mega-Conference for FREE! >>> PREMIER PACKAGE See following pages for details on virtual conferences. *Per-user annual pricing applies to firms with under 50 seats; contact us for a price quote if your firm has more than 50 users. Live event discount (Premier Plus and Premier) does not combine with Early Bird or other discount offers; call 800.231.1860 for details. States with Thomson Reuters-sponsored Gear Up seminars currently include AZ, CA, CO, FL, GA, IA, IL, IN, MA, MD, MO, NM, NV, NY, ND, OK, OR, VT and VA. Discount does not apply to Gear Up seminars hosted by state societies (which manage their own pricing and registration). ALSO AVAILABLE: COMPLIANCE CPE PACKAGE ($199*). Pair power with affordability! This package was designed specifically for individuals looking to meet their CPE requirements cost-effectively. The Compliance CPE Package provides firms (and individual practitioners) with the essential Checkpoint Learning components plus CPE tracking and compliance monitoring and 240+ online courses (1,400+ CPE credits). PROFESSIONAL CPE PACKAGE ($239*). Selection plus affordability! This package was designed for those looking to meet CPE requirements cost-effectively but with a wide selection of online courses. The Professional CPE Package provides firms (and individual practitioners) with the essential Checkpoint Learning components plus CPE tracking and compliance monitoring and 310+ online courses (1,600+ CPE credits) including full library of ethics training. PREMIER AND PREMIER PLUS PACKAGES: Look for this icon throughout to identify products that are included or available at a discount with your subscription! cl.thomsonreuters.com | 800.231.1860 CHECKPOINT LEARNING VIRTUAL CONFERENCES FOR MORE INFORMATION, VISIT CL.THOMSONREUTERS.COM OR CALL 800.231.1860. Presented and cosponsored by leading AuditWatch and CPEasy training experts, our virtual conferences break traditional barriers by giving you live, up-to-the-minute analysis on key topics from nationally recognized experts in the comfort of your own office! What is a “Virtual Conference?” A “virtual conference” is a multi-day web-based training event featuring multiple presenters and different topics. You will be able to view the presenter’s content, interact with the speakers and participate in live Q & A, making the session as applicable to your practice as it possibly can be. Virtual Conference Features • • • • Attend from anywhere with no travel costs Up-to-date, relevant training Well-known experts Interactive Visit cl.thomsonreuters.com to register. Registration closes at 5:00 p.m. CST the day before the scheduled event. This CPE is delivered in a group internet-based format. Most virtual conferences are presented on LearnLive™; the Year-End Mega-Conference is presented on WebEx™. Both platforms allow you to view expert content and interact with the speakers. Log on to the audio broadcast site to hear the presentation through your computer. ONLINE LEARNING SEE BOTTOM OF PAGE FOR DETAILS. AUDIT PRODUCTIVITY VIRTUAL CONFERENCE Improving productivity is always a challenge. Whether it’s pressure from competitors and clients or changes to accounting rules and accounting staff, it’s easy to see why firms often struggle to achieve optimal audit quality and efficiency. Join us for a conference designed to give you the knowledge, techniques and tips to perform your engagements in the most effective and efficient manner. Conference Objectives: This conference will provide you with the latest updates and techniques to help ensure that your firm is performing audits effectively and efficiently. Conference Speakers: AuditWatch Consultants Pete Bieghler, CPA, Wayne Kerr, CPA, Shawn O’Brien, CPA, Ericka Racca CPA and other nationally recognized experts. Who Should Attend? Seniors, managers, directors, partners and anyone with influence on an engagement’s planning and execution. Schedule June 4 and 5 / 9:00 a.m. – 5:00 p.m. CST September 2 and 3 / 9:00 a.m. – 5:00 p.m. CST Sessions Pricing Price per participant/per conference: $379. $199 for Checkpoint Learning Premier or Premier Plus subscribers or CPEasy package subscribers! • Common Audit Productivity Issues • Reviews, Compilations and Special Purpose Frameworks • Staying Out of Trouble — Significant new accounting issues, common audit deficiencies and current findings related to fraud • Building a Better Audit Plan • Key Issues in Client and Project Management • Spotting Opportunities to Use Data Extraction Software • Getting the Most Out of Internal Controls • Documentation Tips and Pitfalls • Improving Performance Through Effective Supervision • Panel Discussion — Answers to your questions and valuable bestpractice takeaways CPE Information Level: Intermediate Advanced Prep: Knowledge of Auditing CPE Credits: 16 Field of Study: Auditing Platform: Presented on LearnLive KEY ISSUES IN INTERNATIONAL TAXATION VIRTUAL CONFERENCE The steady increase in economic globalization has been leading the business world into cross-border transactions that have become a significant part of their regular business activities. Not surprisingly, these transactions often generate a host of international tax issues that tend to attract the scrutiny and penalty-wielding power of the IRS. This two-day web-based International Tax Conference is designed to provide useful information and practical guidance in key areas to help practitioners of all sizes conquer the challenges of tax accounting and reporting in the international business arena. Conference Objectives: This conference will provide you with the latest updates and analysis on key issues in international taxation affecting small and medium sized CPA firms. Conference Speakers: Speakers for this event will include Conference Chairman Jay Darby, CPA, JD and other nationally recognized experts. Who Should Attend? Experienced managers, directors, partners — specifically those who deal with international tax matters Schedule July 29 and 30 / 9:00 a.m. – 5:00 p.m. CST October 20 and 21 / 9:00 a.m. – 5:00 p.m. CST Sessions • • • • • • • • • • • • Latest Developments in International Tax Tax Compliance: 1040 NR Structuring IP Transactions Mexican and Canadian Tax Issues/Reform Structuring Strategies for Inbound Investing FATCA and Withholding Taxes Latest Developments in International Tax — Outbound Structuring Strategies for Outbound Investing Foreign Tax Credits Foreign Bank Accounts Expatriation Transfer Pricing Pricing Price per participant/per conference: $379. $199 for Checkpoint Learning Premier or Premier Plus subscribers or CPEasy package subscribers! CPE Information Level: Update Advanced Prep: None CPE Credits: 16 Field of Study: Tax Platform: Presented on LearnLive PREMIER AND PREMIER PLUS PACKAGES: $199 special pricing per virtual conference/per attendee for Premier and Premier Plus subscribers. Call 800.231.1860 to receive special pricing. cl.thomsonreuters.com | 800.231.1860 : Visit cl.thomsonreuters.com for complete and current Virtual Conferences course information. ONLINE LEARNING SEE BOTTOM OF PAGE FOR DETAILS. NEW: BIG ISSUES FOR SMALL CLIENTS VIRTUAL CONFERENCE SMALL AND PRIVATE COMPANY AUDITING AND FINANCIAL REPORTING Staying up-do-date with new standards, risk alerts and best practices is challenging enough, but having to sift through all of the information out there to find the few nuggets that actually matter for your clients can sometimes seem impossible. This virtual conference is designed to block out the noise and focus on just the issues most likely to be important to practitioners serving smaller, private companies. Conference Objectives: This conference will help you identify and apply technical GAAP updates, auditing considerations and practice tips for serving your small, private-company clients. Who Should Attend? Accountants in public practice providing audit, review, compilation or accounting services for small, private companies. Sessions • Recognizing the Issues Unique to Small, Private-Company Engagements • The New Private Company Financial Reporting Options • Tips for Implementing SSARS 21 and Launching Your Financial Statement Preparation Service • Independence and Small Business Assurance Services • Panel Discussion: Top Small Business Financial Reporting Issues • What You Need to Know about Internal Controls in Very Small Company Audits • Critiquing and Improving Employee Benefit Plan Audits: A Demonstration with Workpaper Examples • Avoiding Common Problems with Financial Statement Disclosures • So Near and Yet So Far: What Small Businesses Should Be Doing To Get Ready for the New Revenue Recognition Standard Conference Speakers: Pete Bieghler, CPA; Wayne Kerr, CPA; Susan Longo, CPA Schedule July 22 and 23 / 10:00 a.m. – 4:00 p.m. CST September 9 and 10 / 10:00 a.m. – 4:00 p.m. CST November 5 and 6 / 10:00 a.m. – 4:00 p.m. CST Pricing Price per participant/per conference: $379. $199 for Checkpoint Learning Premier or Premier Plus subscribers or CPEasy package subscribers! CPE Information Level: Intermediate Advanced Prep: Knowledge of Accounting and Auditing CPE Credits: 12 Field of Study: Accounting and Auditing Platform: Presented on LearnLive NEW: REVENUE FROM CONTRACTS WITH CUSTOMERS VIRTUAL CONFERENCE ASU 2014-09 — Revenue from Contracts with Customers is the most significant change to financial reporting standards in recent years. This virtual conference provides an in-depth explanation of this new revenue recognition standard, complete with examples and implementation guidance. Conference sessions will also include discussion of the likely impact of this new standard on industries, income taxes and audits. Conference Objectives: This conference will help you identify and apply changes to financial reporting and related services from the FASB’s new standard on revenue from contracts with customers. Who Should Attend? Accountants, auditors and others who need to understand the impact of new revenue recognition standards on financial reporting Sessions • • • • • • • • • Applying the Five-Step Model for Revenue Recognition Recognizing Other Key Provisions of the New Standard Analyzing New Presentation and Disclosure Requirements Implementation Issues: Not-For-Profit Entities Implementation Issues: Construction Companies Implementation Issues: Other Industry Consideration Tax implications of ASU 2014-09 Auditing implications of ASU 2014-09 Panel Discussion of Key Issues and Q&A Schedule October 1 and 2 / 10:00 a.m. – 4:00 p.m. CST November 10 and 11 / 10:00 a.m. – 4:00 p.m. CST December 2 and 3 / 10:00 a.m. – 4:00 p.m. CST Pricing Price per participant/per conference: $379. $199 for Checkpoint Learning Premier or Premier Plus subscribers or CPEasy package subscribers! CPE Information Level: Intermediate Advanced Prep: Knowledge of Accounting and Auditing CPE Credits: 12 Field of Study: Accounting and Auditing, Tax Platform: Presented on LearnLive Conference Speakers: Paul Munter, CPA; Wayne Kerr, CPA; Susan Longo, CPA; Laurie Stillwell, CPA PREMIER AND PREMIER PLUS PACKAGES: $199 special pricing per virtual conference/per attendee for Premier and Premier Plus subscribers. Call 800.231.1860 to receive special pricing. Visit cl.thomsonreuters.com for complete and current Virtual Conferences course information. cl.thomsonreuters.com | 800.231.1860 ONLINE LEARNING SEE BOTTOM OF PAGE FOR DETAILS. NEW: HEALTH CARE REFORM VIRTUAL CONFERENCE Get up-to-date guidance and insight from a panel of experts on health care reform. During this two-day conference you will learn the latest on forms and calculations, tax and non-tax matters and have the opportunity to ask the experts about a variety of implementation issues. You will receive key updates on a variety of health care reform topics and learn what’s on the horizon. Conference Objectives: This conference will provide you with the latest updates and analysis on health care reform issues. Who Should Attend? Experienced managers, directors, partners — specifically those who deal with health care matters. Sessions • • • • • • • Roundtable Discussion of Recent Developments and Key Updates Understand the Forms and Calculations for Health Care Update for Employers The Tax Treatment of Health Insurance for the Partner and S Corp Shareholder Discussion of Key Non-Tax Issues Ask the Experts: Frequently Asked Questions on Implementation Issues Roundtable Discussion of What Lies Ahead Conference Speakers: Conference Chair John Stevko, CPA, and a team of TaxWatch, Gear Up and CPEasy Speakers Schedule August 4 and 5 / 10:00 a.m. – 4:00 p.m. CST October 27 and 28 / 10:00 a.m. – 4:00 p.m. CST December 8 and 9 / 10:00 a.m. – 4:00 p.m. CST Pricing Price per participant/per conference: $379. $199 for Checkpoint Learning Premier or Premier Plus subscribers or CPEasy package subscribers! CPE Information Level: Update Advanced Prep: None CPE Credits: 12 Field of Study: Tax Platform: Presented on LearnLive Visit cl.thomsonreuters.com for complete and current course information. PREMIER AND PREMIER PLUS PACKAGES: $199 special pricing per virtual conference/per attendee for Premier and Premier Plus subscribers. Call 800.231.1860 to receive special pricing. cl.thomsonreuters.com | 800.231.1860 ONLINE LEARNING SEE BOTTOM OF PAGE FOR DETAILS. NEW: 2015 YEAR-END MEGA-CONFERENCE FOR PRACTITIONERS The new year-end mega-conference pulls together a variety of topics in accounting, auditing, tax and practice management for a truly interdisciplinary experience. Presented over two days, this conference conveniently groups the sessions into those with an accounting and auditing focus and those with a tax focus – so you can attend the whole conference or just the day that is most relevant to you. Conference Objectives: This conference will help you to identify and apply technical issues, practice management skills and practice tips to your practice areas. Who Should Attend? Accounting, auditing and tax professionals. Sessions Day 1 • • • • • Accounting Roadmap: An Overview of the FASB's Technical Agenda; Where We've Been, Where We're Going and What It Means Applying LEAN and Six Sigma Concepts to Improve Productivity Internet Security Tools for Accountants Challenging Assumptions: Using Real-World Examples to Critique and Improve Audits Exceeding Exceptions Every Time: Mastering the Exceptional Service Technique Day 2 • • • • Tax Savings Tips for High-Income Clients Federal Tax Year End Round Up — What You Need to Know Now Before Busy Season Tax Planning Strategies for Small Business IRS Examination Issues – What’s Hot and Being Scrutinized Conference Speakers: AuditWatch Consultants, TaxWatch Instructors and other nationally recognized experts. Schedule November 19 and 20 / 9:00 a.m. – 5:00 p.m. CST December 17 and 18 / 9:00 a.m. – 5:00 p.m. CST January 19 and 20 / 9:00 a.m. – 5:00 p.m. CST Pricing Price per participant/per conference: $219 per day or $399 for both days Checkpoint Learning Premier Subscribers: $119 per day or $219 for both days Checkpoint Learning Premier Plus Subscribers: FREE! CPE Information Level: Intermediate Advanced Prep: Knowledge of Tax, Accounting and Auditing CPE Credits: 8 credits per day or 16 hours for total event Field of Study: Tax, Personal Development, Accounting and Auditing, Computer Science Platform: Presented on WebEx™ Visit cl.thomsonreuters.com for complete and current course information. PREMIER AND PREMIER PLUS PACKAGES: Year-End Mega-Conference is $219 for Premier subscribers or FREE for Premier Plus subscribers. Call 800.231.1860 to receive special pricing. cl.thomsonreuters.com | 800.231.1860 CHECKPOINT LEARNING WEBINARS LIVE INSTRUCTOR-LED WEB-BASED EVENTS FOR MORE INFORMATION, CALL 800.231.1860. Checkpoint Learning Webinars offer hundreds of webinars each year on the topics of most importance to you taught by nationally recognized experts. • Topics covered include: accounting and auditing current developments, audit quality and efficiency, ethics, business and financial management, personal development, practice efficiencies using PPC Tools, specialized industry, tax, technology and Yellow Book • Webinars are priced per participant per webinar at $69 for one hour, $89 for two hours, $139 for four hours or all day for $189 (Quantity Discount available) • Also available: customized webinars designed exclusively for your firm (call 800.387.1120 for details) All webinars are Level: Update and Advanced Prep: None. Visit cl.thomsonreuters.com for more CPE information. Webinars are presented on WebEx™ and offer optional audio broadcast directly through your computer. Registration closes at 5:00 p.m. CST the day before the event. Checkpoint Learning Webinars are part of Practitioners Publishing Company (PPC). PPC is registered with the National Association of State Boards of Accountancy (NASBA), as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org Checkpoint Learning Webinars are group Internet-based delivery method. Unless otherwise stated, no other prerequisites or advance preparation is required. For more CPE information, including descriptions, learning objectives, and administrative policies, visit cl.thomsonreuters.com. Checkpoint Learning Webinars is an IRSapproved continuing education provider, and offers several courses that that are eligible for credit for IRS PTIN holders (including Enrolled Agents). WEBINARS SEE BOTTOM OF PAGE FOR DETAILS. JUNE 2015 — SCHEDULED WEBINARS Mon 1 Times shown are Central Standard (CST) 8 15 22 29 More information and up-to-date schedule: cl.thomsonreuters.com Tues Wed Thu Fri 2 3 4 5 9 a.m.: Government and Nonprofit Update (8 hrs) 12 p.m.: Advanced Googling for Accountants (2 hrs) 2 p.m.: Assisting with the Defined Contribution Retirement Plan Recommendation (2 hrs) 10 a.m.: Internal Controls for Nonprofits (2 hrs) 12 p.m.: Delegating for Results (2 hrs) 2 p.m.: Loss Limitations — Passive Activity Losses and At-Risk Basis (2 hrs) 12 p.m.: Negotiating 101 (2 hrs) 2 p.m.: Understanding and Preparing an Offer in Compromise (2 hrs) 2 p.m.: Implementing SSARS 21: The New Compilation, Review and Preparation Standards (2 hrs) 10 a.m.: What You Should Know About Form 1040 NR (2 hrs) 12 p.m.: Professional Ethics for Accountants — A Comprehensive Update (2 hrs) 9 10 11 12 9 a.m.: Compilations, Reviews and Preparations — Comprehensive Guidance Including Implementation of the New SSARS 21 Standards (8 hrs) 12 p.m.: Communicating Effectively with the IRS (2 hrs) 2 p.m.: Analytical Procedures for Nonprofit Organizations (2 hrs) 10 a.m.: Living and Dying with an S Corporation (2 hrs) 12 p.m.: Understanding and Evaluating Internal Controls (2 hrs) 10 a.m.: Unique Audit Issues Related to Health and Welfare Benefit Plans (2 hrs) 2 p.m.: Miscellaneous Other Deductions — Not Exactly Insignificant (2 hrs) 9 a.m.: Federal Tax Update (8 hrs) 10 a.m.: Taxation of Mergers and Acquisitions (2 hrs) 12 p.m.: Capital Gain or Ordinary Income (2 hrs) 16 17 18 19 10 a.m.: How to Handle IRS Audits and Appeals (2 hrs) 12 p.m.: Health Care Reform — Individual Mandate (2 hrs) 2 p.m.: Revenue from Contracts with Customers: An Overview of the New Standard (2 hrs) 9 a.m.: Accounting and Auditing Update (8 hrs) 12 p.m.: Quarterly SEC and PCAOB Update Q2 (1 hr) 9 a.m.: Understanding Health Care Reform — How the New Laws Impact Employers and Individual Taxpayers (8 hrs) 12 p.m.: Wrapping Up Engagements: Efficiency Techniques That Work (2 hrs) 10 a.m.: US-Canadian CrossBorder Tax Issues (2 hrs) 12 p.m.: Monthly Accounting Alert (1 hr) 1 p.m.: Monthly Corporate Tax Update (1 hr) 2 p.m.: AMT Update (2 hrs) 23 24 25 26 12 p.m.: Strategies for Developing High-Performing Teams (2 hrs) 2 p.m.: Accounting for Income Taxes — Practice Issues and Common Pitfalls (2 hrs) 9 a.m.: Change Management — An Accountant’s Challenge (8 hrs) 12 p.m.: IRAs — The Complexities and Benefits (2 hrs) 9 a.m.: Audit Sampling: A Comprehensive Guide to Effective and Efficient Sampling in Tests of Details and Tests of Controls (8 hrs) 12 p.m.: List it or Trade it (2 hrs) 2 p.m.: How Health Care Reform Impacts Your Clients(2 hrs) 10 a.m.: Introduction to Fiduciary Taxation (2 hrs) 12 p.m.: Monthly Tax Alert (2 hrs) 2 p.m.: Cloud Computing Made Easy for CPAs (2 hrs) 30 9 a.m.: Accountants Guide to Information Technology (A – Z course) (8 hrs) 10 a.m.: Fair Value Measurement for Nonprofits (2 hrs) 12 p.m.: Power of Efficiency Case Study: Common Deficiencies in Auditing a Government (2 hrs) Please note that nearly all tax titles are eligible for IRS PTIN holders’ CE credit. Visit cl.thomsonreuters.com for more detailed information. PREMIER AND PREMIER PLUS PACKAGES: Premier packages include UNLIMITED access to all one to four hour webinars; Premier Plus packages include UNLIMITED access to all webinars, including full-day. No expiration. QUANTITY DISCOUNT: Use offer code WEBINARBUND15 to save 10% when you purchase three or more in single transaction for the same attendee. cl.thomsonreuters.com | 800.231.1860 WEBINARS SEE BOTTOM OF PAGE FOR DETAILS. JULY 2015 — SCHEDULED WEBINARS Mon More information and up-to-date schedule: cl.thomsonreuters.com Tues Wed Thu Fri 1 2 10 a.m.: Creating Engaging PowerPoint Presentations (2 hrs) 12 p.m.: Partnership/LLCs — Advanced Topics (2 hrs) 2 p.m.: A Close Look at GASB Statements No. 69 and 70 (2 hrs) 10 a.m.: Identifying and Correcting the Most Common Audit Inefficiencies (2 hrs) 12 p.m.: Estate and Gift Tax Update (2 hrs) 7 8 9 10 10 a.m.: Business Ethics in Corporate Accounting (2 hrs) 12 p.m.: Linkedin for Accountants (2 hrs) 2 p.m.: Health Care Reform Issues for Employers (2 hrs) 10 a.m.: Revenue from Contracts with Customers: An Overview of the New Standard (2 hrs) 2 p.m.: Budgeting and Forecasting for Financial Professionals (2 hrs) 10 a.m.: Independence: An Essential Review for CPAs in Public Practice (2 hrs) 9 a.m.: Federal Tax Update (8 hrs) 10 a.m.: FATCA: Strategies for Coping With This Complicated New Law (2 hrs) 12 p.m.: How Health Care Reform Impacts Your Clients (2 hrs) 13 14 15 16 17 9 a.m.: Understanding Health Care Reform — How the New Laws Impact Employers and Individual Taxpayers (8 hrs) 12 p.m.: Quarterly SEC and PCAOB Update Q3 (1 hr) 9 a.m.: Fraud Detection: An Accountant’s Consideration of Fraud in the Preparation of Financial Statements and Tax Returns (8 hrs) 12 p.m.: Planning for Education Expenses: So Many Deductions and Expenses It Takes a PhD to Figure Them Out (2 hrs) 10 a.m.: Passive Activities — Increased Scrutiny on IRC 469 (2 hrs) 12 p.m.: Basis Calculations — S Corporations, Partnerships, LLCs (2 hrs) 20 9 a.m.: Accounting and Auditing Update (8 hrs) 12 p.m.: The Documents Matter: How the Law of Backdating and Rescission Limits the Ability to Shape Tax Results (2 hrs) 2 p.m.: Monthly Tax Alert (2 hrs) 21 22 23 24 12 p.m.: Power of Efficiency Case Study: Understanding a Nonprofit Financial Statement (2 hrs) 9 a.m.: Performing Effective and Efficient Single Audits (8 hrs) 10 a.m.: Managing the Costs of Technology — CPAs and Clients (2 hrs) 12 p.m.: Advanced Topics in Financial Statement Preparation (2 hrs) 27 10 a.m.: Retirement Planning including ROTH IRA Conversions (2 hrs) 12 p.m.: Monthly Accounting Alert (1 hr) 1 p.m.: Monthly Corporate Tax Update (1 hr) 2 p.m.: Understanding Installment Sales (2 hrs) 28 29 30 31 10 a.m.: Entity Conversions: Opportunities and Pitfalls (2 hrs) 12 p.m.: Initial Audit Engagements (2 hrs) 2 p.m.: How to Run an Efficient Tax Office (2 hrs) 10 a.m.: Avoiding Common Errors with Special Purpose Framework (OCBOA) Reporting and Disclosures (2 hrs) 12 p.m.: Nontraditional Engagements: Pro Forma, Forecasts and Projections (2 hrs) 6 12 p.m.: Windows 10 (2 hrs) 9 a.m.: Partnerships and LLCs — From Formation to Liquidation (8 hrs) 12 p.m.: Operational Finance for Accounting Professionals — The Express Version (2 hrs) 3 Please note that nearly all tax titles are eligible for IRS PTIN holders’ CE credit. Visit cl.thomsonreuters.com for more detailed information. PREMIER AND PREMIER PLUS PACKAGES: Premier packages include UNLIMITED access to all one to four hour webinars; Premier Plus packages include UNLIMITED access to all webinars, including full-day. No expiration. QUANTITY DISCOUNT: Use offer code WEBINARBUND15 to save 10% when you purchase three or more in single transaction for the same attendee. cl.thomsonreuters.com | 800.231.1860
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