Registration Fee – $49
Are You Independent When You Need to Be?
Understanding recent changes to the AICPA Code of Professional Conduct
Mark Dauberman, CPA, EMBA
November 10, 2020 – 10:00 am – 12:00 pm (2.0 CPE)
Prerequisites: A general understanding of attest and nonattest services and independence requirements prior to the revisions.
Advance Preparation: None
Field of Study: Regulatory Ethics
The AICPA Code of Professional Conduct (Code) was revised, effective December 31, 2014, with certain provisions effective one year later to coincide with the effective date of SSARS 21. The latter, which were some of the most significant changes, related to independence when performing nonattest services for attest clients. As a result, a CPA may have unknowingly impaired independence leading to a possible modified peer review report or, in some circumstances, increased liability.
This course will review the major revisions to the content and structure of the Code, enabling the CPA to easily navigate through it and address any ethical issues as they arise. Changes affecting the accountant’s independence will be emphasized, providing a step-by-step process for assuring independence and for developing appropriate documentation.
CPAs performing audits, reviews, and compilations for nonpublic entities.
- Be able to navigate the revised AICPA Code of Professional Conduct.
- Learn which nonattest services will impair independence and which may be performed for attest clients.
- Understand how to evaluate threats to independence when more than one nonattest service is performed for a single attest client.
- Apply a risk-based approach for evaluating independence; and
- Develop an approach for documenting the performance of nonattest services to demonstrate that independence has not been impaired.
- Navigating the revised AICPA Code of Professional Conduct
- Identifying the independence requirements in the Code
- Independence and the performance of nonattest services
- Nonattest services allowed and prohibited
- General requirements for maintaining independence
- Applying a risk-based approach to evaluating independence
Mark Dauberman, Bio
Mark provides CPE and technical staff training for CPA firms, private industry, state CPA societies, and government organizations. His topics include accounting, SSARS, ethics, fraud, internal and external auditing, internal control development (COSO), entrepreneurship, and developing a business plan. Mark is in the process of initiating a new entity, The Internal Control Institute, which will be offering CPE and staff training related to internal controls, and in conjunction with professors from Claremont Graduate University, will be providing internal control consulting.
Mark is also an expert witness in the defense of CPAs in cases involving primarily ethics, fraud, and compliance with standards in the performance of professional services.
Mark also provides consulting services to CPA firms with an A & A practice that do not have an expert on GAAP or requirements of Professional Standards within the firm. He addresses such matters as conformity with GAAP, adequacy of disclosures, compliance with professional standards, risk assessment, development and performance of audit and review processes, engagement documentation, compilation and preparation engagements, ethics and independence requirements, assessing and enhancing internal controls for the firm and clients, preparation for peer review, and staff training and CPE. He also provides consulting services related to client management and marketing.
Mark’s public accounting experience includes working with Kenneth Leventhal & Company and more recently, he was a partner at NSBN, a Beverly Hills CPA and business consulting firm. Mark’s industry experience includes serving as assistant controller of a large trucking and warehousing firm along with controller and Vice President of Finance and Administration for major real estate development companies. Mark also spent nearly 30 years as an entrepreneur, operating a company that prepared individuals for the CPA exam nationwide.
Mark has been involved in accounting education at CSU Northridge, CSU San Bernardino, Loyola Marymount University and UCLA. He obtained his bachelor’s degree in accounting from CSU Northridge. He obtained his Executive MBA at the Peter Drucker and Masatoshi Ito School of Management at Claremont Graduate University, where he previously had been a student of Dr. Drucker’s. He also obtained an Internal Control Certificate from COSO. Until recently, he authored “Knowledge Based Preparation, Compilation, and Review Engagements” for CCH and updated their checklists for SSARS engagements. He also served as Senior Editor for Roger CPA Review.
Mark Currently provides CPE and technical staff training for CPA firms, private industry employers of accountants, and government organizations on topics that include accounting, compilation and review, fraud, internal and external auditing, developing internal controls, strategic planning, and practice management. He is also the Senior Editor for Roger CPA Review Course and authors CCH’s “Knowledge-Based Compilations and Reviews”.
Mark’s public accounting experience includes working with various local firms throughout high school and college, and employment with Kenneth Leventhal & Company. More recently, he was a partner at NSBN, a Beverly Hills CPA and business consulting firm, where he served as director of the audit practice and was responsible for recruiting, training, business development, quality control, and strategic planning for the firm. Mark’s industry experience includes serving as assistant controller of a large trucking and warehousing firm. He has been both a controller and the Vice President of Finance and Administration for major real estate development companies. Mark also spent nearly 30 years as an entrepreneur, operating a business that prepared individuals for the CPA exam.
Mark taught his first university accounting class in 1969 and has been involved in accounting education since, most recently a visiting lecturer at California State University at San Bernardino.
Mark obtained his bachelor’s degree in accounting from California State University at Northridge. He obtained his Executive MBA at the Peter Drucker and Masatoshi Ito School of Management at Claremont Graduate University, where he previously had been a student of Dr. Drucker’s.