Statements of Auditing Standards No.134- No.140: Changes to Auditors' Report, Materiality, and EBP Audits
Recording of a 110-minute CPE video webinar with Q&A
This webinar will explain the changes made to audits by SASs 134-140 issued by the AICPA Auditing Standards Board. Our accounting and auditing experts will walk practitioners through the latest guidance and offer advice on complying with these current standards.
Outline
- Overview of Statements of Auditing Standards (SASs) No. 134- No.140
- SAS 134 Auditor reporting and amendments
- SAS 135 Omnibus statement on auditing standards
- SAS 136 Auditor reporting on employee benefit plans
- SAS 137 Information included in annual reports
- SAS 138 Amendments to the description of materiality
- SAS 139 Amendments to incorporate changes from SAS 134
- SAS 140 Amendments to incorporate SAS 134 and 137 changes
- Best practices
Benefits
The panel will review these and other critical issues:
- The expanded description of auditors' responsibility
- What is a KAM, and how and when are these disclosed?
- Preparing auditors' reports for each opinion type
- New required inquiries under SAS 135 for related parties and other significant unusual transactions
- Impact of SAS 136 on the auditors' report and audits of employee benefit plans
Faculty
Sharjeel Ahsan, CPA, MBA
Audit Director
McConnell & Jones
Mr. Ahsan has been instrumental in builing and leading the Firm’s Form 5500 preparation practice and has... | Read More
Mr. Ahsan has been instrumental in builing and leading the Firm’s Form 5500 preparation practice and has helped several clients through DOL & IRS voluntary compliance programs. He is a subject matter expert on Form 5500s and has more than 10 years’ experience in this area. He is also part of his Firm's ERISA Assurance and Compliance Services Team. He is responsible for managing his clients' employee benefit plan audits that range from regional non-profit organizations to large Fortune 500 public companies. The largest plan he manages consists of 63,000+ participants and approx. $5 Billion in net assets. He also manages certain non-profit and commercial audits.
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Michelle Brumfield, CPA
Practice Leader
Pension Assurance
Ms. Brumfield recently joined Pension Assurance LLP as a Practice Leader. She was formerly an Audit Director at... | Read More
Ms. Brumfield recently joined Pension Assurance LLP as a Practice Leader. She was formerly an Audit Director at McConnell & Jones LLP. Ms. Brumfield has 30 years of experience in accounting and financial audits for various industries. For the past 17 years, she has planned, led, and provided technical support to numerous employee benefit plan audits, including defined contribution retirement plans, defined benefit retirement plans, and health and welfare plans. Ms. Brumfield has a proven track record building a team and the EBP practice, and she has a knack for client retention and a love of service. Ms. Brumfield is also an advocate for staff and client education and has spoken at various CPA organizations, online learning platforms, and the AICPA Employee Benefit Plan Conference.
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Scott Mattson, CPA
Chief Operating Officer, Audit Partner
Assurance Dimensions
Mr. Mattson serves as the firm’s Audit Partner at the Jacksonville office. He has over 20 years of experience as... | Read More
Mr. Mattson serves as the firm’s Audit Partner at the Jacksonville office. He has over 20 years of experience as a Certified Public Accountant. Mr. Mattson spent over a decade as an assurance principal at The LBA Group, one of the largest firms in Florida. He also served as assurance director at BDO USA LLP, one of the ten largest accounting firms in the world. Mr. Mattson specializes in employee benefit plan audits, franchise financial reporting and assurance work for non-public companies in multiple industries.
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