Auditing Standards for CPAs: Winter Update 2025

Author: Pat Patterson

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

This course informs participants of the latest issues from the ASB and the AICPA for private entities. New and revised audit standards, attestation standards, audit and attestation interpretations and other new pronouncements about auditing from the AICPA are discussed.

Any newly released auditing issues from the AICPA are visited as deemed appropriate. New items regarding Quality Management are highlighted.

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

• New releases, SASs 142, 143, 144, 145, 146, 147, 148 from the AICPA's Auditing Standards Board (ASB) plus any other SASs from the AICPA
• New releases for SQMS No. 1, No. 2 and No. 3. plus, any later SASs from the AICPA regarding Quality Management
• New Attestation Standards (SSAEs) released
• Updates that impact the auditing professional standards including new Quality Management Standards and their requirements
• Suggested approach to the new standards

Learning Objectives

• Recognize the auditing pronouncements that impact private companies from the ASB of the AICPA and other new audit releases that may affect the non-issuing entities
• Recognize any new auditing standards recently issued and some of the Auditing Standards that are substantive
• Recognize SASs superseding the existing requirements
• Recognize the statements regarding Statement of Quality Management Standards nos. 1, 2, and 3
• Recognize new elements with respect to a firm's system of quality management based on the new requirements of quality management (QM) standards
• Identify correct statements with respect to AU-C Section 570

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Auditing (2 hours)

Program Prerequisites
Basic understanding of auditing standards

Advance Preparation
None