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SAS 134 - New AICPA Auditors Report

4.6 (29)

Melisa Galasso, CPA (US)

Galasso Learning Solutions

Tuesday, February 02, 2021 | 10:30 AM EDT

  • CIA
  • CPA (US)

1 Credit


Subject Area


Webinar Qualifies For

1 CPE credit of Auditing for all CPAs

1 CPE credit for Certified Internal Auditors (CIA)

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Course Description

The auditor’s report is getting a facelift. Following both the IAASB and PCAOB, the AICPA undertook a massive project to update the new report.  SAS No. 134, Auditor Reporting and Amendments, including amendments addressing disclosures in the Audit of Financial Statements makes major changes to the form and content of the non-issuing auditor’s report for non-issuing entities. 

This webinar will cover the new order of the report, changes to the presentation as well as introduce the concept of KAM. We’ll cover when KAM is required as well as what constitutes KAM.  This webinar will also address specific changes to the standards for the auditor’s responsibility in forming an opinion.  SAS 134 changes auditor reporting standards including a new AU-C Section 701, communicating key audit matters in the independent

Major Topics Covered :

  • SAS 134, Auditor Reporting and Amendments
  • AU-C 700
  • AU-C 701
  • Interaction with AU-C 705
  • Key Audit Matters (KAM)

This course is a must for auditors. The new report is effective for periods ending on or after December 15, 2020. This webinar is a must-attend for Auditors from small to large firms involved in the audit of private company financial statements.

Learning Objectives

  • To identify and list the changes to the auditor’s report
  • To recall the definition of Key Audit Matters (KAM)
  • To identify the Differences between AU-C sections and how they apply to the auditor's responsibilities
  • To identify how AU-C sections apply to financial statements
  • To identify how to implement the new and extensive audit report format, disclosures, and procedures

Who Should Attend?

  • Auditors
  • Compliance Officers
  • CPA (Industry)
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial CPA
  • Young CPA


    [no_of_record] => 29
    [average] => 4.6207




Webinar to be so much full of details that can easily be understood and applied. Melisa's experience and knowledge on these topics was quite impressive which you have poured into your presentation. I am happy I attended your webinar.


Very informative presentation. This webinar was amazing. Melisa provided a lot of information in a very organized manner. I can use this information for myself or my colleague.


Ms.Melisa is an excellent speaker who gave an informative overview of AU-C 700 & AU-C 701. She pointed us to great resources so we can provide advice to our clients.


I found the webinar very informative and covered many points with enough detail to understand the important points of key audit matters and SAS - 134