CPE & Events Catalog
How SAS Nos. 134-145 Improve Risk-Based Audits
Recent generally accepted auditing standards were written to improve the quality of risk-based financial statement audits, audit reporting, and required by-product communications. This course will discuss the important clarifications and enhancements intended to improve audit quality to ensure better compliance with requirements contained in SAS Nos. 134-145.
This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Learning Objectives
After attending this presentation you will be able to...
- Identify new requirements related to audit reporting and required by-product communications
- Recall core concepts fundamental to obtaining sufficient and appropriate audit evidence in compliance with recently-issued auditing standards
- Recognize recent clarifications and enhancements made to improve the quality of the risk-based audit process
- Recall significant new requirements of SAS Nos 134-145
Highlights
The major topics that will be covered in this class include:
• Key changes to audit report elements intended to improve the understandability of the nature and results of financial statement audits
• Enhanced required by-product communications with management and those charged with governance to promote more reliable financial statements
• Clarifications related to obtaining sufficient and appropriate audit evidence, including significant unusual transactions, related parties, going concern uncertainty, and accounting estimates
• New definitions and requirements related to identifying and evaluating risks of material misstatement
• Other important matters contained in SAS Nos. 134-145
Field of Study: Auditing
Who Should Attend
Anyone with financial statement audit responsibilities
Required Knowledge
None
