This 2020 auditing update reviews the latest developments affecting audit engagements. Part of planning an audit involves consideration of the business and economic environment in which the client operates. Thus, auditors need to be aware of the various types of fraud that clients and employees may be committing, especially in light of myriad lawsuits against auditors and accountants. In addition to applying techniques to limit their liability to their clients and third parties, auditors are confronting other major problems facing the accounting field, including compliance with the Sarbanes-Oxley Act. The peer review comments and new auditing statements provide further guidance on current issues. To deal with the volatility in the business climate, auditors should focus their efforts in key areas and should take lessons from litigation. Additionally, in this course, auditors will learn how to perform more efficient engagements, understand the new auditor’s report guidance found in SAS Nos. 134-139, agreed-upon engagements in SSAE No. 19, and much more. The course also addresses auditing issues related to the coronavirus (COVID-19).
Course No. F040
Format: Online pdf (404 pages). Printed book available.
Instructional Delivery Method: QAS Self-Study
CPE Credit: 16 hrs.
Field of Study: Auditing
Course expiration: You have one year from date of purchase to complete the course.
Course Revision Date: April 2020