South Carolina Association of CPAs

(LIAA52/27) Best Practices: Audit Workpapers & Proper Documentation
2027-01-19 09:30 - 11:10 (America/Detroit)
Event Description
AU-C Section 230 requires that auditors maintain sufficient audit documentation throughout the engagement. Audit documentation is essential, as it serves as the evidence that auditors performed appropriate procedures to support their opinion on the financial statements. This course will cover the basis and best practices of audit workpapers and proper audit documentation, as well as the common deficiencies in audit documentation.
Objectives

Identify common deficiencies in audit documentation on engagements.
Recall the documentation requirements of audit workpapers from AU-C 230.

(LIAA51/27) 2026/27 Single Audit Update
2027-01-19 08:30 - 09:20
Event Description
Stay current on significant developments affecting Single Audits with this focused update on recent regulatory and professional guidance. This course reviews the 2024 Uniform Guidance overhaul, including the increase in the Single Audit threshold to $1 million and other changes impacting audit planning and execution.
The course also examines Appendix B of the 2025 GAS/Single Audit Guide issued by the AICPA, highlighting updates that affect audit efficiency and compliance considerations. In addition, participants will receive updates on recent guidance issued through Office of Management and Budget (OMB) memoranda, as well as reporting-related changes.
This course is designed to help auditors understand how these developments affect Single Audit requirements and what to watch for as regulations continue to evolve.
Objectives

Recognize the impact of the 2024 Uniform Guidance changes on Single Audits.
Identify changes in Appendix B of the AICPA GAS/Single Audit Guide affecting Single Audit engagements.
Recall key changes introduced through recent OMB memoranda relevant to Single Audits.

(LITX16R/27) Understanding Corporate Taxation: Formation & Shareholder Compensation - Rebroadcast
2027-01-14 13:10 - 14:50
Event Description
When a new business is formed, there are a lot of questions. What is the most tax-advantageous way to structure the entity? What issues do we need to be aware of? How should owners pay themselves? For corporations, these questions are even tougher since they are regulated so heavily. In this course, we will discuss how new shareholders can form a corporation tax-free. We will also discuss how basis is calculated for the shareholders, including what to do when debt is involved. Finally, we will discuss different ways that shareholders may be compensated and the pros and cons of each. If you want to confidently guide your corporate clients through entity formation, basis calculations, and compensation planning, our Understanding Corporate Taxation series is designed for you!
Objectives

Identify the necessary elements for a tax-free corporate formation under Sec 351.
State when property encumbered by debt may create a gain for a contributing shareholder.
Recognize the elements of reasonable compensation.
Identify the tax implications of Incentive Stock Options (ISOs).

(LITX54/27) Understanding Corporate Taxation: Accounting Methods, Deduction Timing & Losses
2027-01-14 11:20 - 13:00
Event Description
A deduction is a deduction is a deduction. Right? Well, not exactly. In corporate taxation, the general rule is that a corporation can deduct any expenditure that is ordinary, necessary, and reasonable. However, there are nuances that we need to be aware of, such as a floor on charitable contributions, limits on meals, and even a maximum amount that may be available to take on a loss from a prior year. In tax planning, simply put, the details matter! In this course, we will explore those details, discuss when a deduction is available for your accrual basis clients, and identify when small contractor exceptions may be helpful. If you want to sharpen your ability to spot opportunities and navigate the fine print for your corporate clients, this edition of Understanding Corporate Taxation will give you the tools to do just that.
Objectives

Identify when a C-Corporation is eligible for the small contractor exceptions under Sec 448
State the elements of the all-events test
Recognize charitable contribution deduction restrictions for corporations
Recall the various types of corporate NOL

(LITX53/27) Understanding Partnership Taxation: Advanced Basis, Contributions & Distributions
2027-01-14 09:30 - 11:10
Event Description
Partnership distributions of cash to the partners are generally straightforward to handle. However, when partnerships begin to distribute property, things can get tough! When do we need to recognize gain? What type of gain do we recognize? When does a disproportionate distribution result in ordinary income? And what about 704(c)? When these situations come up, we want to be able to recognize them. In this course, we will be discussing these less common scenarios through easy-to-follow examples, so that you can better serve your clients and plan appropriately.
Objectives

Identify the elements necessary to obtain favorable tax treatment upon the contribution and distribution of property.
State when a disproportionate distribution would result in gain recognition by a partner.
Recognize when Form 7217 must be filed.
Identify elements of basis shifting and the effect of Notice 2025-23.

(LIET15/27) Behavioral Ethics: Ethical Leadership Under Pressure
2027-01-14 08:30 - 09:20
Event Description
Attendees will leave with a clear, actionable approach to developing or strengthening a security program that is appropriate to their firm’s size and complexity and can be supported with consistent documentation and review practices.
Objectives
Recognize behavioral drivers (bias, pressure, rationalization) that can lead to ethical lapses. Apply a structured approach to resolve dilemmas and communicate concerns professionally.

(LIAA50/27) Common Yellow Book & Single Audit Deficiencies
2027-01-13 10:20 - 13:40
Event Description
Yellow Book and Single Audit engagements are routinely selected for peer review and continue to be areas of heightened scrutiny by peer reviewers and federal oversight agencies. This course examines common deficiencies identified in GAGAS and Single Audit engagements, with a focus on understanding why these issues arise and how they can be avoided.
Participants will review frequent deficiencies related to Yellow Book requirements issued by the U.S. Government Accountability Office, including independence, CPE, and reporting considerations. The course also addresses common Single Audit deficiencies, including internal controls over compliance, compliance testing, and major program determination.
Designed for auditors performing Yellow Book and Single Audit engagements, this course helps participants recognize recurring problem areas and better understand the requirements that continue to drive peer review findings.
Objectives

Identify common deficiencies identified in Yellow Book engagements.
Recall independence requirements applicable under the Yellow Book.
Identify common deficiencies identified in Single Audit engagements.

(LIAA49/27) Addressing Common Documentation Deficiencies
2027-01-13 08:30 - 10:10
Event Description
The Enhancing Audit Quality Initiative has identified inadequate or nonexistent audit documentation as one of the most significant issues facing the profession today. Over half of the engagements reviewed by the AICPA failed to meet the requirements of AU-C 230, highlighting a critical need for improvement.
This course addresses common misconceptions about audit documentation and provides actionable strategies to overcome these deficiencies. Attendees will learn best practices to ensure compliance with professional standards, enhance audit quality, and mitigate risks associated with poor documentation. Whether you are an experienced professional or new to auditing, this course will help you strengthen your documentation practices and uphold the highest standards of the profession.
Objectives

Identify the minimum documentation requirements from AU-C 230.
Recall common work paper deficiencies identified by the AICPA.

(LIET14/27) Smart, Secure, and Productive - Rebroadcast
2027-01-12 08:30 - 11:50
Event Description
Taxpayer data is one of the most valuable—and most targeted—assets in any CPA firm. This session focuses on how risk actually occurs in day-to-day CPA workflows and how firms can apply practical safeguards to reduce the likelihood of preventable incidents.
Participants will learn how IRS Publication 4557 guidance, the FTC Safeguards Rule requirements, and a Written Information Security Plan (WISP) work together in practice. The session emphasizes operational controls, staff decision points, and documentation that reflects actual firm activity—not theoretical or template-based approaches.
Rather than focusing solely on tools or awareness, this program explains how common incidents occur through ordinary business actions such as email requests, data handling, and approval workflows—and how verification procedures, defined responsibilities, and repeatable processes help mitigate those risks.
Attendees will leave with a clear, actionable approach to developing or strengthening a security program that is appropriate to their firm’s size and complexity and can be supported with consistent documentation and review practices.
Objectives
1. Explain how key regulatory guidance and requirements relate in practice Describe how IRS Publication 4557, the FTC Safeguards Rule, and a WISP collectively support safeguarding taxpayer and customer information.
2. Identify common risk scenarios in CPA firm workflows Recognize how incidents can occur through routine activities such as email communication, credential use, data transmission, and vendor interaction.
3. Describe appropriate safeguards across administrative, physical, and technical areas Explain the role of policies, training, physical protections, and technical controls in reducing risk within a CPA firm environment.
4. Evaluate the structure and purpose of a Written Information Security Plan (WISP) Identify core WISP components and assess whether documentation aligns with actual firm operations and responsibilities.
5. Apply verification and workflow controls to higher-risk activities Describe procedures such as out-of-band verification, defined escalation paths, and controlled approval processes for sensitive requests.
6. Describe key elements of an incident response process Outline common trigger events and the sequence of actions used to contain risk, preserve information, and coordinate internal response.
7. Identify documentation practices that support program oversight and reviewRecognize types of records (e.g., training, access review, incident notes, vendor oversight) that demonstrate ongoing use and maintenance of controls.

(LIAA48/27) Fraud Risk – Complying with Minimum Audit Requirements
2027-01-07 13:00 - 14:40
Event Description
The financial statement auditor’s overall responsibility is to obtain sufficient appropriate audit evidence to provide reasonable assurance as to whether the financial statements are materially misstated due to fraud or error. The difficulty is that there are inherent limitations related to detecting fraud due to deliberate schemes to conceal the intent to deceive, such as collusion. This module will highlight the audit procedures most effective in identifying, assessing and responding to fraud risk.
Objectives

Explain the various types of fraud relevant to a financial statement audit.
Recall the symptoms of fraud and how to identify risk of material misstatement due to fraud.
List appropriate responses to identified fraud risk.
Recognize the requirements related to fraud and noncompliance in various generally accepted auditing standards.

(LIAA47/27) Introduction to Governmental Accounting (2026)
2027-01-07 10:20 - 12:00
Event Description
Governmental accounting differs significantly from commercial and nonprofit accounting standards and requires a distinct approach to financial reporting. This course introduces the foundational principles of governmental accounting, including fund accounting concepts and the modified accrual basis of accounting.
Participants will explore the structure and purpose of governmental fund financial statements as well as the government-wide financial statements, gaining clarity on objectives, layouts, and key elements. The course also addresses essential topics such as component units, Management’s Discussion and Analysis (MD&A), and the Annual Comprehensive Financial Report (ACFR).
Designed for those new to governmental accounting—or those seeking a refresher—this course provides a solid foundation for understanding and applying governmental financial reporting principles. The course has been updated to reflect recent guidance issued by the Governmental Accounting Standards Board (GASB), including GASB Statements 101-105.
Objectives

Recall the requirements of governmental financial reporting.
Recognize organizations that follow governmental financial reporting standards.
Identify key elements of governmental financial statements.
Identify appropriate fund classifications used in governmental accounting.
Identify requirements for an entity to be considered a component unit.
Recognize the components of net position for different governmental fund types.

(LIAA46/27) How to Audit Cash
2027-01-07 08:30 - 10:10
Event Description
Cash is essential to every business, and is often one of the first accounts audit staff are exposed to. This course will cover the basics of auditing cash, including the related audit assertions, risks, & threats to the cash balance. During this course, we will also highlight the various substantive auditing procedures that staff should perform, and also walk through some real-world examples.
Objectives

Recall the audit assertions applicable to the cash balance.
Recognize the risks & threats related to the cash balance.
Identify substantive auditing procedures that are used to obtain comfort over cash.

(LIAA45/27) Preparation, Compilation and Review Engagements
2027-01-06 13:00 - 14:40
Event Description
This course is an introduction to preparation, compilation, & review engagements. During this course, we will compare and contrast these different engagements by reviewing the procedures that should be performed, different reports, as well as the level of assurance specific to each type of engagement.
Objectives

Recognize the difference between preparation, compilation, & review engagements.
Identify the specific procedures related to preparation, compilation, & review engagements.

(LIAA44/27) Introduction to Single Audit (2026)
2027-01-06 10:20 - 12:00
Event Description
Single Audits are a critical area of focus within the profession and require a thorough understanding of the Uniform Guidance and its unique requirements for auditing federal awards. This course provides a clear, practical introduction to the performance and reporting standards that distinguish Single Audits from other types of audit engagements.
Participants will explore foundational concepts, including internal controls over compliance, the compliance requirements applicable to federal programs, as well as how to leverage the Compliance Supplement. The course also covers reporting considerations.
Designed for professionals new to Single Audits—or those seeking a structured refresher—this course equips participants with the essential knowledge needed to understand and navigate Single Audit engagements. The course has been updated to reflect the 2024 Uniform Guidance.
Objectives

Recognize when a Single Audit is required.
Identify the elements of a finding in a Single Audit.
Recall reporting requirements for a Single Audit.
Recognize internal controls over compliance.
Identify compliance requirements.

(LIAA43/27) How to Audit Expenses & Payables
2027-01-06 08:30 - 10:10
Event Description
It is imperative that audit staff understand the fundamentals of expenses & payables. This course will cover the basics of auditing expenses, accrued liabilities, and other payables, including the related audit assertions, risks, & threats to the expenses & payables balances. During this course, we will also highlight the various substantive auditing procedures that staff should perform, and also walk through some real-world examples.
Objectives

Recall the audit assertions applicable to the expenses & payables balances
Recognize risks & threats to the expenses & payables balances
Identify substantive auditing procedures that are used to obtain comfort over expenses & payables

(LIET13/27) General Business Ethics and Code of Professional Conduct
2027-01-05 13:00 - 16:20
Event Description
Unethical behavior can ruin professional careers, and could result in fines, penalties, or even a loss of licensure. Every CPA must comply with the AICPA’s Code of Professional Conduct, which is a hallmark of the CPA designation. CPAs in public practice must overcome higher barriers, such as when attest service providers must also retain independence. This course will provide an overview of the core principles from which the CPA profession is built upon, as well as the risks faced by those that work in either public accounting or industry.
Objectives

Describe the foundation of ethical behavior.
Analyze moral and ethical dilemmas faced in day-to-day situations.
Explain important principles underlying ethical decision-making.
Describe core principles underlying the AICPA’s Code of Professional Conduct that apply to both CPAs in public practice and industry.
Explain common ethical dilemmas faced by all CPAs and how they can be safeguarded to an acceptable level.

(LIAA42/27) Auditing Bits in BytesTM – A Practical Break-Down of “Real World” Best Practices Applied in Highly Successful Audits: Segment 6: General Procedur
2027-01-05 10:20 - 12:00
Event Description
This series will provide valuable tips and techniques from an experienced auditor to successfully design and perform financial statement audits in “real-life” circumstances. Practical understanding of principles and standards can result in a high-quality, insightful, and profitable engagement.
Objectives

Describe all activities that occur during the engagement wrap-up phase of the engagement, which includes general audit procedures, audit report drafting, and audit report release.
Explain how this phase of the engagement can easily unravel all good intentions as it relates to audit quality and profitability.
Apply professional judgment and best practices for an effective and efficient engagement.

(LIAA41/27) Analytical Procedures – Comprehending Financial Statement Audit Fundamentals
2027-01-05 08:30 - 10:10
Event Description
Properly designing, documenting and evaluating results of analytic review procedures is critical for performing an effective and efficient audit engagement. This module will provide the tips and techniques necessary to gather sufficient appropriate audit evidence to support conclusions using analytic procedures common to financial statement audits.
Objectives

Link preliminary analytic review results to assessed risk of material misstatement.
Perform final overall analysis of audit results.
Recall audit standard requirements, including minimum documentation for substantive analytic procedures.
Design typical substantive analytical procedures.
Identify quality control deficiencies in substantive analytic procedures.

(LIET12/27) SC Regulatory Ethics: Rules & Regulations (SC Statutes and Regulations) - Rebroadcast
2026-12-29 08:30 - 10:10
Event Description
This course covers ethical frameworks and rules regarding CPA practice and responsibilities. This course will meet the two-hour annual ethics requirement for SC CPAs.
Objectives
Explain the core principles and responsibilities outlined in the AICPA Code of Professional Conduct and applicable state regulations. Recognize common ethical challenges facing accounting professionals and evaluate appropriate responses based on regulatory guidance. Apply ethical decision-making frameworks to real-world scenarios while understanding the consequences of non-compliance with professional standards.

(LIET11/27) SC Regulatory Ethics: Rules & Regulations (SC Statutes and Regulations) - Rebroadcast
2026-12-19 08:30 - 10:10

(LITX52/27) Lifecycle Financial Planning: Education Planning - 529 Plans
2026-12-17 14:00 - 14:50
Event Description
With the rising cost of college, education planning has become an increasingly greater need for clients. 529 plans continue to be a valuable way to save for college in a tax-efficient way. However, are there any costs that 529 plans cannot be used to cover? What about using 529 plans to cover student loan payments? Is that possible? Finally, with SECURE 2.0, are there now more tax-efficient ways to get money out of a 529 plan? In this course, we will go beyond the nuts and bolts of 529 plans and explore these details and many more, so that you can be ready to field client questions. If you are looking for a course that goes more in-depth on 529 plans, this is the one for you!
Objectives
State what expenses 529 plan distributions may be used for.
Recognize ways that remaining funds may be removed from a 529 plan tax-free.
Identify when a Coverdell ESA might be used instead of a 529 plan.

(LITX51/27) Exploring Client Advisory Services - Types of IRS Notices & Best Practices
2026-12-17 13:00 - 13:50
Event Description
One thing that is nearly impossible to get away from as a tax practitioner is IRS notices. Even if you are not a tax attorney, it is important to know what to do when the client comes to you with a letter. What information do you need to collect? What types of notices are there? And more importantly, are there any remedies? In this class, we will explore some of the basic types of IRS notices. We will talk about the audit process and when the client might be eligible for relief. We will also discuss which penalties are eligible for first-time abatement – and which are not.
Objectives
Recognize the different types of IRS Notices.
State the requirements for First Time Abatement.
Identify the different types of IRS audits and key appeal procedures.

(LIOT14/27) Seeing Beyond the Numbers - Financial Statement Analysis for CFOs & Controllers
2026-12-17 09:30 - 12:50
Event Description
Financial statements are a crucial window into the daily operations and overall health of a company. They reveal the strengths and weaknesses that define the organization’s financial standing. However, the interpretation of financial statements can vary widely depending on the user’s perspective. This course is designed to help you refine your financial statement analysis skills and gain insights that will enable you to better understand and communicate your company’s financial performance.
Objectives
Indicate how different stakeholders utilize financial statements.
Recognize how flexible budgeting may be used by CFOs and Controllers.
Recall how time series analysis and common size financial statements are used in trend analysis.
Calculate liquidity, leverage, and profitability ratios.
Identify the uses and limitations of ratio analysis.

(LITX50/27) Exploring Client Advisory Services - Independent Contractors vs Employees
2026-12-17 08:30 - 09:20
Event Description
As gig workers, remote employees, and hybrid working environments have become more commonplace, the tax rules pertaining to independent contractors and employees have become more complex. If someone can work whenever they want, are they still an employee? How are expense reimbursements reported? And most importantly, what happens if a contractor should really be classified as an employee? In this course, we will discuss these issues, as well as some common tax reporting issues. Finally, we will discuss recent tax legislation in this area, including changes to the electronic filing requirements.
Objectives
Recall the 3 determination categories (incorporating the 20 historical factors) that the IRS uses to determine employees versus independent contractors.
Identify the basic tax forms needed when hiring employees and independent contractors.
Recognize the different types of 1099 forms.
State the tax implications of scholarships.

(LIAA40/27) Sampling - Avoiding Common Mistakes on Financial Statement and Compliance Audits
2026-12-16 13:00 - 14:40
Event Description
Sampling is an important method for determining the extent of testing controls, testing compliance, and tests of substantive details. It allows the auditor to apply procedures to less than 100% of the population yet extend results to project likely conclusions about the entire population. This module will describe the proper process for both attribute testing and variable sampling in financial statement and compliance audits.
Objectives

Recall generally accepted audit requirements related to sampling applications.
Differentiate attribute testing for tests of controls or compliance from sampling for substantive assurance in tests of details.
Explain special considerations related to testing in compliance audits performed in accordance with Uniform Guidance.
Identify common sampling-related audit deficiencies.

(LIAA39/27) PCAOB and SEC Update
2026-12-16 10:20 - 12:00
Event Description
It is imperative for public companies to produce quality financial reporting. This course will share insights into the latest SEC and PCAOB areas of emphasis and concern.
Objectives

Identify areas of focus by the SEC, new rules, and developments by the PCAOB.
List SEC comment letters and areas of PCAOB emphasis to help registrants improve the quality of financial reporting.
Recall enforcement actions by the SEC.

(LIAA38/27) Auditing Bits in BytesTM – A Practical Break-Down of “Real World” Best Practices Applied in Highly Successful Audits: Segment 4: Linking Assesse
2026-12-16 08:30 - 10:10
Event Description
This series will provide valuable tips and techniques from an experienced auditor to successfully design and perform financial statement audits in “real-life” circumstances. Practical understanding of principles and standards can result in a high-quality, insightful, and profitable engagement.
Objectives

Describe how to properly identify, evaluate, document and respond to risks of material misstatement due to either fraud or error.
Explain how to link assessed risk of material misstatement to the design of the nature, timing and extent of further audit procedures.
Apply best practices for effective and efficient audit engagements that rely on a meaningful risk assessment process.

(LIET10/27) SC Regulatory Ethics: Rules & Regulations (SC Statutes and Regulations) - Rebroadcast
2026-12-15 17:30 - 19:10

(LITX49/27) Tax Planning: Charitable Contributions, Substantiation, and Planning
2026-12-15 10:30 - 11:20
Event Description
Maximize tax benefits while ensuring charitable contributions meet strict substantiation requirements. This course provides practical planning strategies and documentation guidance to help support deductions, reduce risk, and withstand IRS review.
Objectives
Apply planning steps; assess impacts; build a client/company checklist. Apply current federal and South Carolina guidance to common filing, planning, and compliance scenarios. Use checklists and review steps to reduce errors in entity and individual workflows. Identify high-risk positions, documentation requirements, and audit triggers; strengthen workpaper support. Evaluate fact patterns to select treatment, elections, and documentation steps.

(LITE13/27) Phishing Simulation Follow-Up Actions
2026-12-15 09:30 - 10:20
Event Description
Reinforce learning and reduce risk by taking the right actions after a phishing simulation. This course outlines effective follow-up steps to address vulnerabilities, improve employee awareness, and strengthen your organization’s overall security posture.
Objectives
Apply one control improvement; reduce common attack/fraud risks; validate steps. Strengthen incident response readiness and communication workflows. Use AI and analytics responsibly with verification, documentation, and confidentiality safeguards.
