SAS 145 - Risk Assessment

Overview

SAS 145, Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement, was issued in October 2021. This audit standard amends AU-C 315, making many changes to address common audit deficiencies. This course will provide an overview of SAS 145 and its changes to AU-C 315.

Highlights

• SAS 145
• Yellowbook
• Auditing

Prerequisites

Prior experience with AU-C 315

Designed For

Accounting Professionals

Objectives

• Identify changes to AU-C 315
• Recognize key components of the new risk assessment standard

Preparation

None