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Statement on Auditing Standards No. 104 - No. 111 Risk Assessment Standards

Gain a better understanding of how the risk assessment standards affect audit practice.

In the 1990s, the auditing profession was affected by several allegations of audit failure. In response, the auditing profession looked into ways to improve the audit process. That led to a very extensive study that recommended, among other things, that the Auditing Standards Board (ASB) of the AICPA undertake a project to address issues with respect to assessing and responding to the risks of material misstatement (whether caused by error or fraud). This project culminated in the issuance of SASs 104-111, often referred to as the suite risk assessment standards. Collectively, the risk assessment standards establish standards and provide guidance concerning the auditor's assessment of the risks of material misstatement (whether caused by fraud or error) in a nonissuer financial statement audit; design and performance of tailored audit procedures to address assessed risks; audit risk and materiality; planning and supervision; and audit evidence.

Learning Objectives

  • You will be able to recognize SAS No. 106 and 107 key provisions.
  • You will be able to differentiate between the risks types.
  • You will be able to recognize SAS No. 108 and 109 key provisions.
  • You will be able to recognize SAS No. 110 and 111 key provisions.

Runtime: 89 minutes
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Provide an Overview of SASs 104-111

Discuss Changes to SASs 104-111 Since Their Original Issuance

Highlight Post-Implementation Issues and Plans to Amend the Standards

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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on August 1, 2019.

Call 1-866-352-9540 for further credit information.

  • CPE/NASBA - QAS Self Study 2.2 including Taxes 2.2
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study 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 web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.2 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Taxes for 2.2 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
     
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Hiram Hasty, CPA

AICPA

Hiram Hasty, CPA, AICPA

  • Associate director, audit and attest team of the AICPA; the audit and attest team supports the standard setting activities of the ASB, a senior technical committee of the AICPA responsible for the promulgation of audit, attestation, and quality control standards for nonissuers
  • Staff responsible for the issuance of SASs 104–111 and all the supporting implementation guidance, including an audit guide, audit risk alert, presentations at conferences, and technical questions and answers
  • Technical advisor to the AICPA member of the International Auditing and Assurance Standards Board
  • CPA and member of the New York State Society of CPAs
  • Can be contacted at 212-596-6011 or [email protected]
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Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 406666
Published 2019
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