2025 and the Auditing Standards Board (Completed)

This session reviews new pronouncements, proposals, and issues from the AICPA’s Auditing Standards Board (ASB) up to the date of the course. This presentation will inform participants of the latest issues from the ASB and the AICPA for private entities including not-for-profits. New and revised audit standards, attestation standards, audit and attestation interpretations and other new pronouncements about auditing are discussed. Any newly released auditing issues from the AICPA are also visited as deemed appropriate.

Who Should Attend
Professionals in public practice, business, industry, government, and education who deal with nonpublic entities and wish to stay current on professional standards.

Topics Covered

• Releases, 145, 146, 147, 148, & 149 from the AICPA’s Auditing Standards Board (ASB) plus any other SASs from the AICPA
• Releases for SQMS No. 1, No. 2, and No. 3 plus any later SASs from the AICPA
• New Attestation Standards (SSAEs)
• Further updates that impact on the auditing professional standards including new Quality Management Standards and their requirements.
• Ethics Sections dealing with Non-Compliance with Laws and Regulations (NOCLAR)
• Revisions from the AICPA’s Code of Professional conduct explored for revisions and updates in attest/non-attest applications as released or considered by the Professional Ethics Executive Committee (PEEC)
• Any other ASB matters and releases deemed appropriate and timely

Learning Objectives

• Recognize the auditing pronouncements that impact private companies from the Auditing Standards board (ASB) of the AICPA and to review other new audit releases that may affect the private non-issuing entities
• Recognize any auditing standards approved but not yet effective
• Recognize any new auditing standards recently issued and review some of the Auditing Standards that are substantive
• Recognize Statement of Auditing Standards (SASs) superseding the existing requirements
• Identify correct statements with respect to AU-C Section 570
• Identify the date all clarified SASs became effective for audits of financial statements
• Recognize new elements with respect to a firm's system of quality management based on the new requirements of quality management (QM) standards

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Auditing (2 hours)

Program Prerequisites
None

Advance Preparation
None