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Webinar (AICPA): Risk Assessment Under SAS No. 145

Description

Get familiar with SAS No. 145 (bold)

In October 2021, the AICPA Auditing Standards Board issued Statement on Auditing Standards (SAS) No. 145, Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement.

SAS No. 145 does not fundamentally change the key concepts underpinning audit risk. Rather, it clarifies and enhances certain aspects of the identification and assessment of the risks of material misstatement to drive better risk assessments and, therefore, enhance your audit quality.

Hear from members of the Auditing Standards Board’s risk assessment task force as they help you learn to navigate SAS No. 145 and examine new and updated concepts including:

– A new definition of significant risk
– New guidance on maintaining professional skepticism
– Revised requirements to evaluate the design of certain controls
– Separately assessing inherent risk and control risk
– Revised requirements regarding audit documentation
– New guidance on scalability

Learning Objectives

•Recall why risk assessment is important

Major Topics

*Risk assessment under SAS No. 145

Provider
AICPA - Durham
Course Level
Basic
CPE Field of Study
Auditing
2
Who Should Attend

Practitioners who perform audit engagements

Instructor(s)
Maria Manasses Elizabeth Gantnier
Prerequisites

none

Advanced Preparation

This webinar is produced by AICPA. You will receive your login link/instructions and Certificate of Attendance directly from this third-party vendor. It is important that you review your COCPA confirmation for details on receiving your login instructions and COA from said vendor.

Location
Webinar
Event Information
When
Feb 10, 2023
11:00 am - 1:00 pm MST
Location
Webinar
Total CPE Credits
2
Format
Webinar

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Webinar (AICPA): Risk Assessment Under SAS No. 145


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