The Auditing Standards Board of the AICPA has recently completed a project to update its standards surrounding auditor reporting. With more than half a dozen new Statements on Auditing Standards, affecting the entire 700 series of the professional standards, there is a lot to learn about the new requirements. This course will take you through the significant areas of Professional Standards, including highlighting the new areas and requirements. The audit report, while retaining much of the familiar language, is much different under these new standards. Let us walk you through to ensure compliance.
• Identify the requirements of the reporting sections of AICPA Professional Standards.
• Recall the form and content of the standard auditor’s report and when and how to modify the standard report.
• Forming an opinion and reporting on financial statements
• Communicating key audit matters in the independent auditor’s report
• Modifications or additions to the auditor’s report
• Other or supplementary information in the auditor’s report
Practitioners providing auditing services to nonpublic entities.