SAS 145: Assessing the Risks of Material Misstatement
Scalability, Stand-Back Provision, Determining Inherent and Control Risk
A live 110-minute CPE video webinar with interactive Q&A
This webinar will discuss implementing the significant revisions made to risk assessment by Statement of Auditing Standards (SAS) 145. The level of risk or susceptibility of financial statements to material misstatement guides the audit process. The panelist of experienced auditors will review the updated and new definitions in SAS 145 and walk CPAs through the process of identifying and assessing risks of material misstatement under the new standard.
Outline
- Assessing risk: an introduction
- Definitions
- Assessing risks
- Inherent risk
- Control risk
- Maintaining professional skepticism
- Scalability
- Stand-back requirement
- Documentation
- Other considerations
Benefits
The panelist will cover these and other key considerations:
- The interplay of inherent and control risk
- Exercising judgment and scalability
- Applying the new stand-back requirement
- How assessing control risk at a maximum impacts an audit
- Best practices for implementing SAS 145
Faculty
Philip Marciano, CPA, CGFM
Partner
Citrin Cooperman
Mr. Marciano CPA, Certified Government Financial Manager and a Chartered Global Management Accountant, he is recognized... | Read More
Mr. Marciano CPA, Certified Government Financial Manager and a Chartered Global Management Accountant, he is recognized as a national resource for government and nonprofit accounting. He regularly leads training sessions for professional staff and has given seminars on behalf of the New York State Government Finance Officers Association, New York State Association of School Business Officials, New Jersey Society of Certified Professional Accountants and the Institute of Internal Auditors (Long Island Chapter). Mr. Marciano is a discussion leader and instructor for the AICPA and Surgent Professional Education on subjects including governmental and nonprofit accounting and auditing.
CloseEarly Discount (through 11/08/24)
CPE credit processing is available for an additional fee of $39.
CPE processing must be ordered prior to the event.
See
NASBA details.
Cannot Attend December 4?
Early Discount (through 11/08/24)
CPE credit is not available on downloads.
CPE On-Demand