Gain a better understanding of the audit and attest standards.

Gain a better understanding of the audit and attest standards. Every audit engagement will be affected by SAS 134. The auditor's report is changing; this topic will show you what to expect to see in the revised report (hint: it's much longer.) Changes are also coming to audits of employee benefit plans, particularly to limited scope audits. This material will explain the changes and clarify the responsibilities of management and the auditor. New accounting standards are going to impact what practitioners need to do on compilations, reviews and audits. This topic will address some pitfalls to beware. A new standard has been issued on agreed-upon procedures. This information will explain the flexibility offered in the new standard and the advantages of the changes. Practitioners who perform compilation and review engagements should be aware of the latest standard, SSARS No. 24. We will cover the key aspects of this new standard, and some common implementation issues that have arisen.