New Audit StandardsCode: 24-AUDSTD

Price: $39.95
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Course Details

128 pages

Objectives: The objective of this course is to address the new auditing standards issued by the Auditing Standards Board as SAS Nos.  142-145.  

The first segment of the course addresses SAS No. 142's expanded guidance on what comprises audit evidence in a financial statement audit. Topics include: evaluating audit evidence; testing audit evidence; relevance and reliability of audit evidence including its source; susceptibility to management bias; corroborative or contradictory information; evaluating whether information is sufficiently precise and detailed for the auditor's purposes; and use of automated tools and techniques. 

The second segment is a review of SAS No. 143's guidance on  accounting estimates including the degree of estimation uncertainty; risk assessment procedures related to accounting estimates; identifying and assessing the risks of material misstatement including responses to the assessment; indicators of possible management bias, and more. 

Presentation Method:  Self-Study

Category:  Auditing

CPE credit:  4

Program Level:  Overview

Prerequisites:  General understanding of  U.S. auditing standards

Advance Preparation:  None

Exam expiration date:  Participants must submit exams for grading within one year from the date of purchase

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American CPE, Inc. 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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