Overview
SAS 145, Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement, was issued in October 2021. The audit standard amends AU-C 315, including many changes to address common audit deficiencies. This course will provide an overview of SAS 145 and its changes to AU-C 315. Attendees will have an opportunity to evaluate the impact on audit methodology and documentation.
Prerequisites
Prior experience with AU-C 315
Objectives
- Recall changes to risk assessment requirementsÂ
- Identify impact on audit methodology
Highlights
- Risk Assessment
- Internal Controls
- SAS 145
