Bold New SAS’s

Learning Objectives

• To examine the background and scope of each standard.
• To discuss the specific items targeted by each amendment.
• To describe how to apply each amendment.
• To determine the effect of the amendments.
• To review additional disclosure requirements.

Course Description

This is an exciting time in the auditing and attestation space. Standards are changing to keep up with today’s business environment.

Sometimes it is a little difficult to keep up with the amendments in auditing standards issued by the Accounting Standards Board.

We have looked at what will be in effect in December 2021, and we’ve given you bird’s eye view of the latest changes coming very soon.

Major topics covered in this auditing CPE course:

• SAS 141 - Amendment to the effective dates of SAS nos. 134–140.
• AU-C Section 700 - Forming an opinion and reporting on financial statements.
• AU-C Section 705- Modifications to the opinion in the independent auditor’s report.
• AU-C Section 706- Emphasis-of-matter paragraphs.
• AU-C Section 200- Overall objectives of the independent auditor and the conduct of an audit
• AU-C Section 210- Terms of engagement
• AU-C Section 220- Quality control for engagement
• AU-C Section 230- Audit documentation
• AU-C Section 240- Consideration of fraud in a financial statement audit
• AU-C Section 260- Auditor’s communication with those charged with governance
• AU-C Section 300- Planning an audit
• AU-C Section 315- Understanding the entity and its environment and assessing the risks of material misstatement
• AU-C Section 320- Materiality in planning and performing an audit
• AU-C Section 330- Performing audit procedures in response to assessed risks
• AU-C Section 450- Evaluation of misstatements identified during the audit
• AU-C Section 510- Opening balances — initial audit engagements
• AU-C Section 540- Auditing accounting estimates including fair value 
• AU-C Section 600- Special Considerations — Audits of Group Financial Statements
• AU-C Section 910- Financial statements prepared in accordance with a financial reporting framework generally accepted in another country

To set you up for success, we gathered all the valuable resources and information on these new auditing standards in one place. Subscribe for this auditing CPE webinar now!

Click here for more webinars on Accounting & Auditing | Certificate Course on Internal Auditing

Overview

• Forming an opinion on the financial statements

  9 mins
• Reporting on financial statements

  19 mins
• Management-imposed limitation

  33 mins
• Audit of financial statements

  44 mins
• System of quality control and role of the engagement teams

  57 mins
• Understanding the entity and its environment

  80 mins