New Audit Reporting Standards – SAS Nos. 134-137
The objective of this course is to address the new auditor reporting standards issued by the Auditing Standards Board as SAS No. 134-137.

Topics include an overview of the new auditor’s report found in SAS No. 134’s AU-C 700A, including the new report’s format, positioning of sections within the report, title, headings, and expanded language; amendments made to various reporting standards by SAS No. 135; a review of THE new ERISA plan audit standard found in SAS No. 136, AU-C 703, including the format of the new ERISA-plan auditor’s report, positioning of sections of that report, the new ERISA Section 103(a)(3)(C) audit (formerly a limited-scope audit) and the auditor’s report thereon, expanded audit procedures and communications required by auditors of ERISA-plan financial statements; changes made by SAS No. 137 to the auditor’s procedures and reporting on other information, and more.

Course Publication Date: November 25, 2019

This course is available with NO ADDITIONAL FEE if you have an active self study membership or can be purchased for $80.00!

Author:Steven Fustolo
Course No:AUD-SAS3437-6149
Recommended CPE:8.00
Delivery Method:QAS Self Study
Level of Knowledge:Overview
Prerequisites:General understanding of U.S. auditing standards
Advanced Preparation:None
Recommended Field of Study:Auditing
  
Add To Your Cart

Ready to take a course?

  • Includes all self study courses
  • Earn as many CPE credit as you need
  • 100% Guaranteed
Buy Self Study Membership

Learning Objectives
  • Identify the types of audit reports that can be issued under new AU-C 700A.
  • Identify the definition of a written report.
  • Recognize an acceptable title for an auditor’s report.
  • Recognize the order in which certain sections of the new auditor’s report should be presented in AU-C 700A.
  • Recall how an auditor should report when conducting an audit in accordance with PCAOB standards.
  • Recognize the requirements and limitations with respect to communicating on key audit matters in accordance with new AU-C 701.
  • Identify examples of acceptable and unacceptable headings to use in modified reports under new ASU 706-A.
  • Recognize the order in which certain sections of a modified opinion should be presented in the new auditor’s report in AU-C 705A.
  • Recognize examples of modified opinions as defined in AU-C 705A.
  • Identify examples of situations in which an auditor must or may include an emphasis-or-matter or other-matter paragraph as required by new AU-C 706A.
  • Recall examples of fraud risk factors expanded by SAS No. 135.
  • Identify expanded procedures auditors of ERISA-plan financial statements must perform in newly issued SAS No. 136 including a review of the draft Form 5500.
  • Identify the new ERISA Section 103(a)(3)(C) audit in SAS No. 136.
  • Recognize the scope of the term “other information” and “annual report” as used in the newly issued SAS No. 137 pertaining to auditing and reporting other information, and.
  • Recall how an auditor should label other information in the auditor’s report.

CPE Depot Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

Sponsor Number: 109423

 (931ms)
CPE-WEB02 18.206.187.81 url(WWW.CPEDEPOT.COM)-domain(WWW.CPEDEPOT.COM)-anon

Search Courses

Group Plan

Group plans are convenient and cost effective!

Authors Wanted

We are looking for authors!