This 90 minute course will focus on defining the audit client, including a series of examples of how the audit client and affiliate rules operate for both AICPA and SEC independence purposes and when the "not subject to audit" exception permits the delivery of otherwise prohibited services to affiliates of the audit client.
This course will also explain the application of PCAOB Rules to some, but not all audit clients subject to SEC independence and explain when the independence rules begin to apply for new clients or existing client undertaking public offerings. A case study regarding an enforcement action concerning new client acceptance and improper identification of affiliates of the audit client will be discussed.
Jay M. Bornstein, CPA is a retired Big 4 partner who worked in EY’s auditor independence group for 9 years writing policies, assisting engagement teams and representing the firm and its clients in dealings with the SEC related to independence matters. Jay is a frequent writer and lecturer on auditor independence matters. Prior to his work on auditor independence Jay served as a tax partner for 30 years in EY’s Philadelphia office where he assisted publicly traded clients primarily in the retail and casino gaming industry.
CPAacademy.org (Sponsor Id#: 111889) 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.nasbaregistry.org.
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