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ASCPA's Auditing Standards Update

Code: ASU-OL 4.0 CPE Credits

Overview

COURSE OVERVIEW

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After completing this course, you should be able to understand the basic auditing issues related to each of the following areas:

Section

1

Recently issued Auditing Standards.

Section

2

Technical Questions and Answers.

2-a

Reporting Guidance Upon Initial Implementation of Statement on Auditing Standards No. 134 (TIS 8100.04)

2-b

Report Modifications and PCC Accounting Alternatives (TIS 9160.29)

2-c

PCC Accounting Alternatives Results in Change to Previously Issued Report (TIS 9160.30)

2-d

Required Supplementary Information (TIS 9180.01).

Section

3

Restricted-Use Communications Guidance (SAS No. 125).

3-a

Other Matter and Emphasis-of-Matter Paragraphs.

3-b

Umbrella Requirement for Alert Language.

3-c

Understanding When the Alert Language is Required.

3-d

Certain Issues for Governmental Engagements.

3-e

Use of Single Combined Reports.

3-f

Guidance Related to Informing Clients.

Section

4

Going Concern Issues in Financial Statement Audits (SAS No. 132).

4-a

Going Concern Basis of Accounting Versus An Entity’s Ability to Continue as a Going Concern

4-b

Addressing Auditor Objectives and Responsibilities.

4-c

Required Procedures and Activities.

4-d

Written Representations From Management.

4-e

Potential Impact on the Audit Report.

4-f

Communications with Those Charged with Governance.

4-g

Documentation Requirements.

Section

5

2013 Omnibus Statement on Auditing Standards (SAS No. 127).

5-a

Group Audit Amendments.

5-b

Special Purpose Framework Amendments.

5-c

Model Group Audit Reports.

Section

6

Using the Work of Internal Auditors (SAS No. 128).

6-a

External Auditor’s Assessment of the Internal Audit Function.

6-b

Internal Audit Work Used in Obtaining Evidence.

6-c

Using Internal Auditors To Provide Direct Assistance.

6-d

Documentation Requirements.

Section

7

Letters to Underwriters and Others (SAS No. 129).

Section

8

Audits of Internal Control in Integrated Audits (SAS No. 130).

Section

9

PCAOB Audits Not Under PCAOB Jurisdiction (SAS No. 131).

Presenter(s):

Steve Grice

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