SAS 145: Modern Risk-Based Auditing

This program provides in-depth coverage of SAS 145, a major standard that helps auditors enhance risk assessment procedures through improved techniques for identifying and assessing risks of material misstatement. This session is essential for CPAs that perform audits. The discussion will also be insightful for auditees and other professionals who want to maintain awareness of current auditing guidance.

Learning Objectives

Recall elements of audit risk
Be able to identify significant risks
Forumlate audit procedures to address risks
Recall the most salient elements of SAS 145
Assess significant risks using the inherent risk spectrum
Recognize the importance of documentation

Major Topics

Introducing SAS 145
Revisiting audit risk
Risk assessment in the SAS 145 Era
Analyzing SAS 145
Documentation requirements

CPE Credits Available

2 CPE

2: Accounting&Auditing

Things to Know About This Course

Course Level

Intermediate

Prerequisites

A basic understanding of financial statement audits

Advanced Preparation

None

Intended Audience

CPAs in public practice who want to maintain proficiency by incorporating the provisions of SAS 145 and other techniques for enhancing audit quality by improving risk assessment

April 1, 2026