Description

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 the SASs.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Instructor: Jennifer F. Louis, CPA

Target Audience

Anyone who provides attest services on financial statements

Course Objectives

After attending this presentation, you will be able to...Identify new requirements related to audit reporting and required by-product communicationsRecall core concepts fundamental to obtaining sufficient and appropriate audit evidence in compliance with recently-issued auditing standardsRecognize recent clarifications and enhancements made to improve the quality of the risk-based audit processRecall significant new requirements through SAS 149

Subjects

The major topics that will be covered in this course include:Key changes to audit report elements intended to improve the understandability of the nature and results of financial statement auditsEnhanced required by-product communications with management and those charged with governance to promote more reliable financial statementsClarifications related to obtaining sufficient and appropriate audit evidence, including significant unusual transactions, related parties, going concern uncertainty, and accounting estimatesNew definitions and requirements related to identifying and evaluating risks of material misstatementOther important matters contained in recent SASs