89: A&A Update with Brad Muniz – 11/2/21

This episode focuses on what auditors need to know about the AICPA’s new standard on risk-based auditing: SAS 145 – Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement. Other topics include the tightening up of remote auditing procedures; highlights of recent FASB and Financial Accounting Standards Advisory Council meetings; and PCAOB’s preview of 2020 inspection observations. Additional resources:SAS 1452021 FASB Investor Outreach ReportPCAOB Staff Update and Preview of 2020 Inspection ObservationsAccounting & Auditing Conference, Nov. 9Auditing Standards Update with Renee Rampulla, Dec. 1Join the NJCPA Accounting & Auditing Standards Interest Group