SAS 142 -143: New Standards on Audit Evidence & Estimates

This course covers the new auditing standards issued by the Auditing Standards Board as SAS No. 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. 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.

The third segment consists of a review of SAS No. 144’s changes to auditing standards in connection with use of specialists (management and auditor specialists) and use of price information obtained from external sources. The final section addresses significant changes made by SAS No. 145 to the auditor’s understanding of an entity and its environment and the assessment of  risks of material misstatement.

Price: $39
Format: Online pdf (128 pages). Printed book available.
Prerequisites: General understanding of compilation and review and auditing standards
Advance Preparation:None
Level: Overview
CPE Credit: 4 hrs.
Field of Study: Auditing/Technical
Course expiration:  You have one year from date of purchase to complete the course.
Course Revision Date: April 2023

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