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DTSTAMP:20260709T211941Z
DTSTART:20270114T180000Z
DTEND:20270114T200000Z
SUMMARY: Risk Assessment Under SAS No. 145 (2 hours)
DESCRIPTION: Get familiar with SAS No. 145 (bold)In October 2021\, the AICPA Auditing Standards Board issued Statement on Auditing Standards (SAS) No. 145\, Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement. SAS No. 145 does not fundamentally change the key concepts underpinning audit risk. Rather\, it clarifies and enhances certain aspects of the identification and assessment of the risks of material misstatement to drive better risk assessments and\, therefore\, enhance your audit quality. Hear from members of the Auditing Standards Board's risk assessment task force as they help you learn to navigate SAS No. 145 and examine new and updated concepts including: \n\nA new definition of significant risk \nNew guidance on maintaining professional skepticism \nRevised requirements to evaluate the design of certain controls \nSeparately assessing inherent risk and control risk \nRevised requirements regarding audit documentation \nNew guidance on scalability 
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