Course Description
Course publication/revision date: This course was updated on 1/20/2026.
The objective of this course is to address the new auditing standards issued by the Auditing Standards Board as SAS Nos. 142-145.
The first segment of the course addresses SAS No. 142’s expanded guidance on audit evidence in a financial statement audit. Topics include: evaluating audit evidence; testing audit evidence; relevance and reliability of audit evidence including its source; susceptibility to management bias; corroborative or contradictory information; evaluating whether information is sufficiently precise and detailed for the auditor’s purposes; and use of automated tools and techniques.
The second segment is a review of SAS No. 143’s guidance on accounting estimates including the degree of estimation uncertainty; risk assessment procedures related to accounting estimates; identifying and assessing the risks of material misstatement including responses to the assessment; indicators of possible management bias, and more.
The third segment consists of a review of SAS No. 144’s changes to auditing standards in connection with use of specialists (management and auditor specialists) and using price information obtained from external sources.
The final section addresses significant changes made by SAS No. 145 to the auditor’s understanding of an entity and its environment, and the assessment of risks of material misstatement.
