2024 Auditing Standards for CPAs: Fall Update

Author: Pat Patterson

Review new pronouncements, proposals, and issues from the AICPA’s Auditing Standards Board (ASB) up to the date of the course.

This course will inform participants of the latest issues from the ASB and the AICPA for private entities. New and revised audit standards, attestation standards, audit and attestation interpretations and other new pronouncements about auditing from the AICPA will be discussed.

Any newly released auditing issues from the AICPA will be visited as deemed appropriate.

Publication Date: October 2024

Designed For
Professionals in public practice, industry, government, and education who deal with nonpublic entities and wish to stay current on professional standards.

Topics Covered

• New releases, SASs 142, 143, 144, 145, 146, 147, 148 and 149 from the AICPA's Auditing Standards Board (ASB) plus any other SASs not effective yet from the AICPA
• New releases for SQMS No. 1, No. 2 and No. 3. plus any later SASs from the AICPA
• New Attestation Standards (SSAEs) released
• A review of SASs 141 through 149
• Further updates that impact on the auditing professional standards including new Quality Management Standards and their requirements

Learning Objectives

• Recognize the new auditing pronouncements that impact private companies from the ASB of the AICPA and identify other new audit releases that may affect the non-issuing entities
• Recognize any new auditing standards recently issued and to identify some of the Clarified Auditing Standards that are substantive
• Recognize SASs superseding the existing requirements
• Recognize the statements regarding Statement of Quality Management Standards nos. 1, 2, and 3
• Recognize new elements with respect to a firm's system of quality management based on the new requirements of quality management (QM) standards
• Identify correct statements with respect to AU-C Section 570

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Auditing (2 hours)

Program Prerequisites
Basic understanding of auditing standards.

Advance Preparation
None