On-Demand   SEC Institute MP3 Seminar
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The New Auditor’s Report – It’s Real This Year

Recorded on: Dec. 5, 2017
Running Time: 01:03:25
Taken from the One-Hour Briefing Recorded November 2017

The New Auditor’s Report – It’s Real This Year [01:03:25]

On June 1, 2017, after several years of work, including research and constituent feedback, the Public Company Accounting Oversight Board issued their new Audit Standard to significantly modify the Auditor’s Report.  On October 24, 20 SEC formally approved the new standard.  The standard will make several changes to the content and format of the auditor’s report for years ending after December 15, 2017.  It also requires that auditors discuss Critical Audit Matters beginning in 2019 or 2020, depending on whether the issuer is a large accelerated filer. 

Jay Hanson, former PCAOB Board Member, and George M. Wilson, a Director at SEC Institute, help you: 

  • Understand the definition of and required discussion of Critical Audit Matters
  • Learn the effective dates of the various changes to the auditor’s report
  • Review the implications of these changes for auditors and management and audit committees
  • Learn about changes to the format of the auditor’s report
  • Understand the requirement to disclose auditor tenure
  • Review the requirement to discuss independence

Presentation Material
  • The New Auditor’s Report - It’s Real This Year!
    Jay Hanson, George M. Wilson, MBA, CPA
    General credit information about this format appears below. For credit information specific to this program, please choose your jurisdiction(s) in the Credit Information box on the right-hand side of this page.

    SEC Institute’s live and on-demand webcasts are single-user license products intended for an individual registrant only. Credit will be issued only to the individual registered.


    U.S. MCLE States

    Alabama:  SEC Institute’s MP3 audio segments qualify as “online” credit. Attorneys are limited to 6 credits of online programs per reporting period.

    Alaska:  All SEC Institute products can fulfill Alaska’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

    Arizona:  SEC Institute’s MP3 audio segments qualify as “interactive CLE” credit. There is no limit to the number of credits an attorney can earn via interactive CLE programs.

    Arkansas:  SEC Institute’s MP3 audio segments are not approved for Arkansas CLE credit.

    California:  SEC Institute’s MP3 audio segments qualify as “participatory” credit. There is no limit to the number of credits an attorney can earn via participatory programs.

    Colorado:  All SEC Institute products can fulfill Colorado’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

    Connecticut: Effective January 1, 2017, all SEC Institute products can fulfill Connecticut’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

    Delaware:  SEC Institute’s MP3 audio segments qualify as “eCLE” credit. Attorneys are limited to 12 credits of eCLE per reporting period, no more than 6 of which may be audio-only.

    Florida:  All SEC Institute products can fulfill Florida’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

    Georgia:  SEC Institute’s MP3 audio segments qualify as “in-house” credit. Attorneys are limited to 6 in-house credits per reporting period.

    Hawaii:  All SEC Institute products can fulfill Hawaii’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

    Idaho:  SEC Institute’s MP3 audio segments qualify as “self-study” credit. Attorneys are limited to 15 credits of self-study per reporting period.

    Illinois:  All SEC Institute products can fulfill Illinois' CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via SEC Institute products.

    Indiana:  SEC Institute’s MP3 audio segments do not qualify for credit.

    Iowa:  SEC Institute’s MP3 audio segments qualify as “unmoderated” credit. Attorneys are limited to 6 credits of unmoderated programs per reporting period.

    Kansas:  SEC Institute’s MP3 audio segments qualify as “prerecorded” credit. Attorneys are limited to 6 credits of prerecorded programs per reporting period.

    Kentucky:  SEC Institute’s MP3 audio segments qualify as “non-live” credit. Attorneys are limited to 6 non-live credits per reporting period.

    Louisiana:  SEC Institute’s MP3 audio segments qualify as “self-study” credit. Attorneys are limited to 4 credits of self-study per reporting period.

    Maine:  SEC Institute’s MP3 audio segments qualify as “self-study” credit. Attorneys are limited to 5.5 credits of self-study per reporting period.

    Minnesota:  SEC Institute’s MP3 audio segments qualify as “on-demand” credit. Attorneys are limited to 15 on-demand credits per reporting period.

    Mississippi:  SEC Institute’s MP3 audio segments qualify as “distance learning” credit. Attorneys are limited to 6 credits of distance learning per reporting period.

    Missouri:  SEC Institute’s MP3 audio segments qualify as “self-study” credit. Attorneys are limited to 6 credits of self-study per reporting period.

    Montana:  SEC Institute’s MP3 audio segments qualify as “self-study” credit. Attorneys are limited to 5 credits of self-study per reporting period.

    Nebraska:  SEC Institute’s MP3 audio segments qualify as “computer-based learning” credit. Attorneys are limited to 5 credits of computer-based learning per reporting period.

    Nevada:  SEC Institute’s MP3 audio segments qualify as “self-study” credit. There is no limit to the number of credits an attorney can earn via self-study programs.

    New Hampshire:  SEC Institute’s MP3 audio segments qualify as “self-study” credit. Attorneys are limited to 6 credits of self-study per reporting period.

    New Jersey:  SEC Institute’s MP3 audio segments qualify as “alternative verifiable learning formats” credit. Attorneys are limited to 12 credits of alternative verifiable learning formats per reporting period.

    New Mexico:  SEC Institute’s MP3 audio segments qualify as “self-study” credit. Attorneys are limited to 4 credits of self-study per reporting period.

    New York

    Experienced Attorneys:  All SEC Institute products can fulfill New York’s CLE requirements for experienced attorneys. There is no limit to the number of credits an attorney can earn via SEC Institute products.

    Newly Admitted Attorneys:  SEC Institute’s transitional MP3 audio segments can be used to fulfill the requirements for New York newly admitted attorneys. Only professional practice and law practice management credits may be earned via transitional MP3 audio segments. Ethics and skills credits may not be earned via MP3 audio segments.

    North Carolina:  SEC Institute’s MP3 audio segments qualify as “online” credit. Attorneys are limited to 6 credits of online programs per reporting period.

    North Dakota:  SEC Institute’s MP3 audio segments qualify as “self-study” credit. Attorneys are limited to 15 credits of self-study per reporting period.

    Ohio:  SEC Institute’s MP3 audio segments qualify as “self-study” credit. Attorneys are limited to 12 credits of self-study per reporting period.

    Oklahoma:  SEC Institute’s MP3 audio segments qualify as “online, on-demand” credit. Attorneys are limited to 6 credits of online, on-demand programs per reporting period.

    Oregon:  All SEC Institute products can fulfill Oregon’s CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

    Pennsylvania:  SEC Institute’s MP3 audio segments qualify as “distance learning” credit. Attorneys are limited to 6 credits of distance learning per reporting period.

    Puerto Rico:  SEC Institute’s MP3 audio segments qualify as “non-traditional” credit. Attorneys are limited to 8 credits of non-traditional programs per reporting period.

    Rhode Island:  SEC Institute’s MP3 audio segments qualify as “on-demand” credit. Attorneys are limited to 3 on-demand credits per reporting period.

    South Carolina:  SEC Institute’s MP3 audio segments qualify as “alternatively delivered” credit. Attorneys are limited to 6 credits of alternatively delivered programs per reporting period.

    Tennessee:  SEC Institute’s MP3 audio segments qualify as “distance learning” credit. Attorneys are limited to 8 credits of distance learning per reporting period.

    Texas:  All SEC Institute products can fulfill Texas’ CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

    Utah:  SEC Institute’s MP3 audio segments qualify as “self-study” credit. Attorneys are limited to 12 credits of self-study per reporting period.

    Vermont:  SEC Institute’s MP3 audio segments qualify as “self-study” credit. Attorneys are limited to 10 credits of self-study per reporting period.

    Virgin Islands:  All SEC Institute products can fulfill the Virgin Islands’ CLE requirements. There is no limit to the number of credits an attorney can earn via SEC Institute products.

    Virginia:  SEC Institute’s MP3 audio segments qualify as “pre-recorded” credit. Attorneys are limited to 8 credits of pre-recorded programs per reporting period.

    Washington:  SEC Institute’s MP3 audio segments qualify as “A/V” credit. Attorneys are limited to 22.5 credits of A/V programs per reporting period.

    West Virginia:  SEC Institute’s MP3 audio segments qualify as “online” credit. Attorneys are limited to 12 credits of online instruction per reporting period.

    Wisconsin:  SEC Institute’s MP3 audio segments qualify as “repeated, on-demand” credit. Attorneys are limited to 15 credits of repeated, on-demand programs per reporting period. No ethics credits can be earned via MP3 audio segments.

    Wyoming:  SEC Institute’s MP3 audio segments qualify as “self-study” credit. Attorneys are limited to 6 credits of self-study per reporting period.


    CPD Jurisdictions

    British Columbia (CPD-BC):  SEC Institute’s MP3 audio segments are not eligible for CPD-BC credit unless viewed with at least one other attorney or an articled student. In this case, the credit must be recorded as a “study group.”

    Ontario (CPD-ON):  SEC Institute’s MP3 audio segments qualify as “recorded” credit. If viewed without a colleague, attorneys are limited to 6 credits of recorded programs per year. If viewed with at least one colleague, there is no limit to the number of credits that can be earned via recorded programs.

    Quebec (CPD-QC):  SEC Institute’s MP3 audio segments can fulfill Quebec’s CPD requirements.

    Hong Kong (CPD-HK):  SEC Institute’s MP3 audio segments are not approved for CPD-HK credit.

    United Kingdom (CPD-UK):  SEC Institute’s MP3 audio segments can fulfill the United Kingdom’s CPD requirements.

    Australia (CPD-AUS):  SEC Institute’s MP3 audio segments may fulfill Australia’s CPD requirements. Credit limits on MP3 audio segments vary according to jurisdiction. Please refer to your jurisdiction’s CPD information page for specifics.


    Other Credit Types

    CPE Credit (NASBA):  SEC Institute’s MP3 audio segments qualify as “QAS Self-Study” credit. Please check the Credit Information box on the right-hand side of this page to verify CPE credit availability.

    IRS Continuing Education (IRS-CE):  SEC Institute’s MP3 audio segments may fulfill IRS-CE requirements. To request IRS-CE credit, please notify PLI at plicredits@pli.edu of your request and include your Preparer Tax Identification Number (PTIN).

    Certified Fraud Examiner CPE:  SEC Institute’s MP3 audio segments may fulfill Certified Fraud Examiner CPE requirements. To request CPE credit or find out which programs offer CPE, please contact PLI at plicredits@pli.edu.

    IAPP Continuing Privacy Credit (CPE):  SEC Institute’s MP3 audio segments may fulfill Privacy CPE credit requirements.

    HR Recertification (HRCI):  SEC Institute’s MP3 audio segments may fulfill HR credit requirements.

    SHRM Recertification (SHRM):  SEC Institute’s MP3 audio segments qualify as "self-paced" credit. SHRM professionals are limited to 30 credits of self-paced programs per recertification period.

    Compliance Certification Board (CCB):  SEC Institute’s MP3 audio segments qualify as “self-study” credit. Candidates are limited to 10 self-study credits per 12-month period, and certification holders are limited to 20 self-study credits per 2-year renewal period.

    Certified Anti-Money Laundering Specialists Certification (CAMS):  SEC Institute’s MP3 audio segments are not approved for CAMS credit.

    New York State Social Worker Continuing Education (SW CPE):  SEC Institute’s MP3 audio segments are not approved for SW CPE credit.

    American Bankers Association Professional Certification (ABA):  SEC Institute’s MP3 audio segments may fulfill ABA credit requirements.

     

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