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Collemi Consulting & Advisory Services, LLC believes in the importance of actively participating in the profession and staying ahead of current trends and issues that impact those involved in U.S. and international financial reporting and auditing.  Salvatore A. Collemi, CPA is regarded as an industry leader and subject matter expert by various organizations and media outlets.

Mr. Collemi is a dynamic and engaging speaker, facilitator and educator. Whether you need him to serve as an opening keynote speaker to set the tone for a conference or trade show or provide expertise on a panel or break-out session, he is accustomed to speaking on a wide range of timely and relevant technical U.S. and International accounting, auditing, quality control, independence and ethics topics. He can work with conference organizers and CPE sponsoring organizations to customize any topic to meet attendees’ educational needs.

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What You Need to Know About the IFAC Standards

November 19, 2020 @ 3:00 pm - 5:00 pm


Level: Basic

CPE Credit: 2 Hours for CPAs

Instructional Method: Group: Internet-based

NASBA Field of Study: Auditing (2 hours)

Program Prerequisites: None

Advance Preparation: None

The International Auditing and Assurance Standards Board (IAASB) of the International Federation of Accountants (IFAC) completed its clarity project over a decade ago. Since then, key projects to enhance and improve the standards resulting in some significant changes to the reporting and communication, along with independence & ethics and professional skepticism.

This session is designed to enable U.S. auditors to transition and understand and comply with the requirements by providing a detailed overview of the key differences between International Standards on Auditing (ISAs) issued by the IAASB and the changes to the suite of standards resulting from projects they have completed in the last few years as compared to the U.S. professional standards.

Who Should Attend
CPAs, accountants, auditors and practitioners who want to understand the IFAC’s IAASB Standards and the key differences from U.S. GAAS and the AICPA’s Professional Standards.

Topics Covered

  • What changes have recently taken place of the ISAs
  • The new requirements in major areas of the audit including quality control, communication, compliance with laws and regulations and auditor reporting
  • The requirements relating to risk assessment and audit planning in a cost-effective manner
  • The audit documentation requirements to evidence the compliance with the ISAs and comply with the quality control requirements as well as IFAC’s Code of Ethics
  • Implement the standards into your practice

Learning Objectives

  • Identify the form and content of the ISAs as compared to U.S. GAAS
  • Identify the requirements in quality control, communication, compliance with laws and regulations and reporting
  • Recognize how to develop audit documentation to evidence the compliance with the ISAs and comply with the quality control requirements of ISA220 and ISQC 1, as well as the Code of Ethics
  • Identify and implement the standards into your practice


November 19, 2020
3:00 pm - 5:00 pm
Event Tags:
View Event Website


Group Internet Based
NJ United States


Wolters Kluwer

For information on booking Salvatore A. Collemi, CPA as a special guest speaker for your next event, contact us today.

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