The Impact of SAS No. 145 on Risk-Based Audits

Overview

This course will be available for 90 days from your date of purchase.

SAS No. 145, Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement, was written to improve the quality to risk-based audits. The concepts apply to financial statements audits, including those performed in accordance with Government Auditing Standards. This course will discuss the important clarifications and enhancements intended to improve audit quality.

Prerequisites

None

Objectives

• Identify clarifications and enhancements made to the risk-based audit process post-SAS No. 145
• Recognize core concepts fundamental to high quality risk-based financial statement audits

Highlights

• New definitions and requirements related to identifying and evaluating risks of material misstatement per SAS No. 145
• Improved application of risk-based audit concepts for a higher-quality audit