SAS 142 -143: New Standards on Audit Evidence & Estimates (2 hrs)

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Course description

SAS 142 – 143: New Standards on Audit Evidence and Estimates

The objective of this course is to address the new auditing standards issued by the Auditing Standards Board as SAS No. 142-143.

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 details 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.

This course is included in our Accounting and Auditing CPE Bundle.

Course Information

Course No. F180
Format: Online pdf (68 pages). Printed book available.
Prerequisites: General understanding of compilation and review and auditing standards
Advance Preparation:None
Level: Overview
CPE Credit: 2 hrs.
Field of Study: Auditing
Course expiration:  You have one year from date of purchase to complete the course.
Course Revision Date: April 2021


After reading the course material, you will be able to:

  • Identify an example of an attribute of information obtained as audit evidence
  • Recognize actions an auditor should perform in evaluating information used as audit evidence
  • Recognize attributes of information to be used as audit evidence
  • Identify an attribute that affects the reliability of information used as audit evidence
  • Recall functions on which an auditor can use automated tools and techniques
  • Identify an example of an accounting estimate related to classes of transactions, account balances and disclosures identified in SAS No. 143
  • Recognize how inherent and control risk should be assessed in accordance with SAS No. 143
  • Recognize an example of an inherent risk factor
  • Identify examples of the approaches that can be performed in assessing the risks of material misstatement from accounting estimates

Ratings and Reviews

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What's your experience? We'd love to know!
Yuanjun Ye
Posted 2 months ago
great course

would recommend

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