1-Hour Program

See Credit Details Below


CPE credit (NASBA QAS Self-Study) is available by completing and passing the program’s CPE Review & Exam.

This program offers CPE (NASBA) and CLE credit. CLE credit may be expired in some states. Please check the credit calculator below for credit status.

Upon the successful completion of this program, the participant will be able to:

  • Recall foundational issues associated with internal control over financial reporting, including its definition, related reporting requirements, and types of control deficiencies.
  • Outline key concepts and issues involved in evaluating the severity and magnitude of a control deficiency.
  • Recognize key considerations for remediating control deficiencies and making related communications.

Course Overview:

This program will focus on:

  • The ownership of internal controls and testing over design and operating effectiveness of internal controls.
  • Determining whether a control deficiency is a material weakness or a significant deficiency:
    • Evaluating severity in terms of magnitude/potential
    • Evaluating compensating controls and remedial actions with mitigating effects
  • Evaluating the severity of control deficiencies in aggregation.
  • Evaluating the effect of control deficiencies on the substantive audit.
  • Building a specific plan to remediate control deficiencies.
  • Testing strategies to determine the success of remediation plans.
  • Making appropriate communications about control deficiencies and remediation.

CPE Program Level:  Update 

Intended Audience:  CPAs, accountants, attorneys, and other professionals who deal with SEC reporting and disclosure, and related accounting issues, including in-house counsel, outside attorneys, chief financial officers (CFOs) and their staff, internal auditors, and partners of public accounting firms and their staff.

Prerequisites:  A basic understanding of internal control over financial reporting deficiencies and the remediation thereof.

Advanced Preparation:  None

Instructional Method:  QAS Self-Study

Updated: April 2022

Credit Information:  1 CPE credit is available upon completion of this program’s 3 content-review questions and a minimum passing score of 70% on the 5-question final exam.


Credit Details

You May Also Like