95824 2

Author: Pat Patterson

CPE Credit:  2 hours for CPAs

Review new pronouncements, proposals, and issues from the AICPA’s Auditing Standards Board (ASB) up to the date of the course. This course will inform 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 will be discussed. Any newly released auditing issues from the AICPA will be visited as deemed appropriate.

Publication Date: March 2024

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

  • Releases, 145, 146, 147, 148, & 149 from the AICPA’s Auditing Standards Board (ASB) plus any other SASs from the AICPA
  • Releases for SQMS No. 1 and No. 2 plus any later SASs from the AICPA
  • New Attestation Standards (SSAEs)
  • Further updates that impact on the auditing professional standards including new Quality Management Standards and their requirements
  • Ethics Sections dealing with Non-Compliance with Laws and Regulations (NOCLAR)
  • Revisions from the AICPA’s Code of Professional conduct will be explored for revisions and updates in attest/non-attest applications as released or considered by the Professional Ethics Executive Committee
  • Any other ASB matters and releases deemed appropriate and timely


Learning Objectives

  • Recognize the auditing pronouncements that impact private companies from the ASB of the AICPA and identify other new audit releases that may affect the non-issuing entities
  • Recognize any auditing standards approved but not yet effective
  • Recognize any new auditing standards recently issued and identify some of the Auditing Standards that are substantive
  • Recognize SASs superseding the existing requirements
  • Recognize the statements regarding Statement of Quality Management Standards
  • Identify correct statements with respect to AU-C Section 570
  • Recognize which SSAE resulted in the completion of the AICPA ASB's Clarify Project
  • Identify the date all clarified SASs became effective for audits of financial statements
  • Recognize new elements with respect to a firm's system of quality management based on the new requirements of quality management (QM) standards



Instructional Method

NASBA Field of Study
Auditing (2 hours)

Program Prerequisites
Basic understanding of auditing standards

Advance Preparation

Additional Course Details

  • Filed of Study: Auditing
  • Publisher: Wolters Kluwer
  • Course Level: Basic
  • Pre-Requisites: None
  • Basic understanding of auditing standards.
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