Self-Study

How SASs No. 134-145 Improve Risk-Based Audits (Governmental)

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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 SAS Nos. 134-145.

Major subjects

• Key changes to audit report elements intended to improve the understandability of the nature and results of financial statement audits
• Enhanced required by-product communications with management and those charged with governance to promote more reliable financial statements
• Clarifications related to obtaining sufficient and appropriate audit evidence, including significant unusual transactions, related parties, going concern uncertainty, and accounting estimates
• New definitions and requirements related to identifying and evaluating risks of material misstatement
• Other important matters contained in SAS Nos. 134-145

Learning objectives

• Identify new requirements related to audit reporting and required by-product communications
• Recall core concepts fundamental to obtaining sufficient and appropriate audit evidence in compliance with recently-issued auditing standards
• Recognize recent clarifications and enhancements made to improve the quality of the risk-based audit process
• Recall significant new requirements of SAS Nos 134-145

Who should take this program?

• Anyone with financial statement audit responsibilities

Pricing

Our records indicate you are a nonmember. If you register, you will be charged $116.00 (Standard Nonmember Fee). Members: Please log in to receive member fee.