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.
Anyone with financial statement or compliance audit responsibilities
After attending this presentation you will be able to...
- 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
The major topics that will be covered in this class include:
- 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