Webcast
Basic
CPE Credits
1 Credits: Auditing
Course Description
During 2019 and 2020, the Auditing Standards Board issued eight new auditing standards SAS 134 – SAS 141. These new standards are considered a suite of standards recommended by the ASB to be implemented concurrently. The standards are designed to enhance the relevance and transparency of the auditor’s report. An objective is to provide financial statement users with more meaningful information about the audit. There are many changes to the new auditor’s report. The first half of the course discusses the four sections of SAS 134 which provide the foundation for the other changes in SAS 135 – 141. These four 134 sections are:
- Forming an Opinion and Reporting on Financial Statements Proposed SAS
- Communicating Key Audit Matters in the Independent Auditor’s Report
- Modifications to the Opinion in the Independent Auditor’s Report
- Emphasis-of-Matter Paragraphs and Other-Matter Paragraphs in the Independent Auditor’s Report
The course then presents the procedures to implement and the related changes to the auditor’s reports included in the other standards for topics such as: The Auditor’s Communication With Those Charged With Governance, Related Parties, Consideration of Fraud in a Financial Statement Audit. Forming an Opinion/Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA, The Auditor’s Responsibilities Relating to Other Information included in annual reports, Amendments to the Description of the Concept of Materiality. Illustrations of the content of various auditor reports are included. Join Rod Redding for this overview course of these important changes coming to the auditor’s report.
Learning Objectives
Upon successful completion of the course, the user should be able to:
- List the ten sections and order of the sections of the auditor’s report
- Identify the key components of the Opinion and Basis of Opinion sections
- Provide a definition of a Key Audit Matter and how it is reported
- Differentiate between the reporting of Emphasis of Matter Paragraphs and Other Matter Paragraphs
- Discuss how to report when there is substantial doubt of a going concern
- Specify the additional communications required with those charged with governance
- Identify what constitutes an Annual Report
- Discuss the auditor’s responsibilities relating to other information included in an annual report
- Describe amendments to the concept of materiality
- Identify changes to nine other specific sections of guidance such as special purpose framework, single and summary financial statements, and interim financial information
- Understand the date when the standards are effective
Course Specifics
|
Course ID WC19206964 |
Prerequisites None |
Advanced Preparation None |
Compliance information
NASBA Provider Number: 103220
Course Instructor
Dr. Rod Redding received his PhD from Penn State University after working with Price Waterhouse and IBM. Presently, he presents seminars and webcasts and prepares self-study courses for Western CPE. He has over 30 years’ experience as a professor at universities such as the University of North Carolina, the University of Utah, Georgetown University, and Gettysburg College. He also has taught internationally at Kenyatta University in Kenya and the American University of Sharjah in the United Arab Emirates. Three different universities have given Dr. Redding awards for excellence in teaching. Dr. Redding holds a CPA certificate but has elected inactive …
The New Auditor's Report: SAS134 and the Accompanying Guidance SAS135-SAS140
$49.00
Webcasts are available for viewing Monday - Saturday, 8am - 8pm ET.
Webcast
Basic
CPE Credits
1 Credits: Auditing
Course Description
During 2019 and 2020, the Auditing Standards Board issued eight new auditing standards SAS 134 – SAS 141. These new standards are considered a suite of standards recommended by the ASB to be implemented concurrently. The standards are designed to enhance the relevance and transparency of the auditor’s report. An objective is to provide financial statement users with more meaningful information about the audit. There are many changes to the new auditor’s report. The first half of the course discusses the four sections of SAS 134 which provide the foundation for the other changes in SAS 135 – 141. These four 134 sections are:
- Forming an Opinion and Reporting on Financial Statements Proposed SAS
- Communicating Key Audit Matters in the Independent Auditor’s Report
- Modifications to the Opinion in the Independent Auditor’s Report
- Emphasis-of-Matter Paragraphs and Other-Matter Paragraphs in the Independent Auditor’s Report
The course then presents the procedures to implement and the related changes to the auditor’s reports included in the other standards for topics such as: The Auditor’s Communication With Those Charged With Governance, Related Parties, Consideration of Fraud in a Financial Statement Audit. Forming an Opinion/Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA, The Auditor’s Responsibilities Relating to Other Information included in annual reports, Amendments to the Description of the Concept of Materiality. Illustrations of the content of various auditor reports are included. Join Rod Redding for this overview course of these important changes coming to the auditor’s report.
Learning Objectives
Upon successful completion of the course, the user should be able to:
- List the ten sections and order of the sections of the auditor’s report
- Identify the key components of the Opinion and Basis of Opinion sections
- Provide a definition of a Key Audit Matter and how it is reported
- Differentiate between the reporting of Emphasis of Matter Paragraphs and Other Matter Paragraphs
- Discuss how to report when there is substantial doubt of a going concern
- Specify the additional communications required with those charged with governance
- Identify what constitutes an Annual Report
- Discuss the auditor’s responsibilities relating to other information included in an annual report
- Describe amendments to the concept of materiality
- Identify changes to nine other specific sections of guidance such as special purpose framework, single and summary financial statements, and interim financial information
- Understand the date when the standards are effective
Course Specifics
|
Course ID WC19206964 |
Prerequisites None |
Advanced Preparation None |
Compliance information
NASBA Provider Number: 103220
Course Instructor
Dr. Rod Redding received his PhD from Penn State University after working with Price Waterhouse and IBM. Presently, he presents seminars and webcasts and prepares self-study courses for Western CPE. He has over 30 years’ experience as a professor at universities such as the University of North Carolina, the University of Utah, Georgetown University, and Gettysburg College. He also has taught internationally at Kenyatta University in Kenya and the American University of Sharjah in the United Arab Emirates. Three different universities have given Dr. Redding awards for excellence in teaching. Dr. Redding holds a CPA certificate but has elected inactive …
The New Auditor's Report: SAS134 and the Accompanying Guidance SAS135-SAS140
Webcasts are available for viewing Monday - Saturday, 8am - 8pm ET.
$49.00