2025 and the Audit Standards Board

Author: Pat Patterson

This course reviews new pronouncements, proposals, and issues from the AICPA’s Auditing Standards Board (ASB) up to the date of the course. This course 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.

Publication Date: February 2025

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

Topics Covered

• Review of 2024 and 2025 Auditing Standards Updates (SASs) from the AICPA Auditing Standards Board (ASB)
• Update on 2025 Auditing Standards Board - SSAEs from the AICPA
• Update on important Ethics Issue: audit, review, compilation, and NOCLAR
• Update on other related audit issues from the AICPA

Learning Objectives

• Recognize the auditing pronouncements that impact private companies from the Auditing Standards board (ASB) of the AICPA and 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
Self-Study

NASBA Field of Study
Auditing (2 hours)

Program Prerequisites
None

Advance Preparation
None