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The AICPA has issued a series of auditing standards that will become effective over the next two years: * SAS 142 - Audit evidence (effective for 12/15/2022 FYEs) * SAS 143 - Auditing Accounting Estimates and Related Disclosures (effective for 12/15/2023 FYEs) * SAS 144 - The Use of Specialists and the Use of Pricing Information Obtained From External Sources (effective for 12/15/2023 FYEs) * SAS 145 - Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement (effective for 12/15/2023 FYEs) This session will address the key changes from these standards, and the impact they will have on the audits of state and local governments.
Learning Objectives:
Identify important changes to auditing standards impacting state and local governments.
Analyze auditor considerations and documentation requirements of the new standards.
Indicate the key types of audit evidence and when to use them.