The major topics that will be covered in this class include:
- Key changes to audit report elements intended to improve the understandability of the nature and results of financial statement audits
- Enhanced required by-product communications with management and those charged with governance to promote more reliable financial statements
- Clarifications related to obtaining sufficient and appropriate audit evidence, including significant unusual transactions, related parties, going concern uncertainty, and accounting estimates
- New definitions and requirements related to identifying and evaluating risks of material misstatement
- Other important matters contained in SAS Nos. 134-145