Current Audit Environment and ASB Activity
Recent pronouncements from the Auditing Standards Board are covered so you can be up to date on its activities and understand how to apply the guidance.
Format
Webcast
Date
Jul 07, 2026
NASBA Field of Study
Auditing
Level
Intermediate
CPE Credits
2.5
Instructor
Kurt G. Oestriecher, Anne Oestriecher
Availability
Product Number
VCL2AUD260707
Understanding the current audit environment
You'll explore the current audit environment, including the audit challenges triggered by the current environment. Additionally, you'll do a comprehensive review of recent audit pronouncement and exposure drafts.
Topics you'll cover include those critical to success in today’s rapidly changing regulatory environment, such as:
- Recently issued audit and attest interpretations
- Technical questions and answers
- The ASB workplan
Key Topics
- Current environment and implication for audit planning
- Key risk issues
- Audit challenges
- Recent Statements on Auditing Standards (SASs).
- ASB workplan
- SQMS No. 1, No. 2, and No. 3
- SSARS No. 26
Learning Outcomes
- Determine the importance of obtaining a sufficient understanding of the client and the client’s environment to effectively plan the audit in response to the risk of material misstatement.
- Determine how the key economic trends currently affecting U.S. businesses affect the auditor in assessing the risk of material misstatement.
- Identify the key risk issues determined by executives and unique challenges for audit engagements.
- Identify key elements of recent Statements on Auditing Standards (SASs).
- Identify the auditor’s responsibilities relating to fraud in an audit of financial statements.
- Recognize key provisions from recently issued Technical Questions and Answers.
- Distinguish key elements included in the recently issued Statements on Quality Management Standard (SQMS) No. 1, A Firm’s System of Quality Management, SQMS No. 2, Engagement Quality Reviews, and SQMS No. 3, Amendments to QM Sections 10, A Firm’s System of Quality Management, and 20, Engagement Quality Reviews.
- Identify key elements of Statement on Standards for Accounting and Review Services (SSARS) No. 26, Quality Management for an Engagement Conducted in Accordance With Statements on Standards for Accounting and Review Services.
- Identify key elements of Statement on Standards for Attestation Engagements (SSAE) No. 23, Amendments to the Attestation Standards for Consistency With the Issuance of AICPA Standards on Quality Management.
Who Will Benefit
CPAs
Group ordering for your team
2 to 5 registrants
Save time with our group order form. We’ll send a consolidated invoice to keep your learning expenses organized.
Start order6+ registrants
We can help with group discounts. Email client.support@aicpa-cima.com
US customers call 1-800-634-6780 (option 1)
The Association is dedicated to removing barriers to the accountancy profession and ensuring that all accountancy professionals and other members of the public with an interest in the profession or joining the profession, including those with disabilities, have access to the profession and the Association's website, educational materials, products, and services.The Association is committed to making professional learning accessible to all product users. This commitment is maintained in accordance with applicable law. For additional information, please refer to the Association's Website Accessibility Policy. As part of this commitment, this product is closed-captioned. For additional accommodation requests please contact adaaccessibility@aicpa-cima.com and indicate the product that you are interested in (title, etc.) and the requested accommodation(s): Audio/Visual/Other. A member of our team will be in contact with you promptly to make sure we meet your needs appropriately.