FMN Plus-2024/July, Seg 1 - Critical Role of Audit Evidence: Navigating SAS 142 and PCAOB 1105
FASB’s SAS 142 and PCAOB’s AS 1105 require auditors to think critically about the evidence they gather. Marty Van Wagoner, Audit Partner at Mountainside Accounting & Consulting, explains how these standards address the evolving nature of business transactions, the use of emerging technologies, and the expanding use of external information sources. He emphasizes the importance of evaluating the relevance and reliability of audit evidence, discusses the need for heightened professional skepticism, and highlights the importance of critical thinking for successful, effective audits.
Learning Objectives:
- Identify how standards SAS 142 and AS 1105 facilitate assessment of audit evidence and critical thinking
- Distinguish key changes introduced by SAS 142, including expanded guidance on the use of automated tools and technologies
- Recognize the importance of evaluating the relevance and reliability of audit evidence through different lenses
- Recognize the importance of professional skepticism in assessing internal and external audit evidence
Prerequisites/Advanced Preparation:
Details
Course Code
:
FMN1572-FM
Release Date
:
07/10/2024
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Expire Date
:
02/13/2026
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Credits
:
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Length
:
1hr 40min
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Course Level
:
Update
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Course Type
:
QAS Self-Study
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Passing Grade
:
70%
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Format Type
:
eLearning
Mobile Compatible
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Field Of Study
:
Auditing
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Theme
:
Auditing Standards
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