Course Description
Course publication/revision date: This course was published on 1/21/2026.
The objective of this course is to review three recently issued auditing standards: SAS Nos. 146-149.
The first section reviews the requirements found in SAS No. 146 related to quality management of an audit engagement. This section identifies the key elements of quality management, the important role and responsibilities of the engagement partner in managing the audit, the importance of quality to all members of the audit engagement team.
The section informs the reader of the various changes made to AU-C 210, Terms of Engagement, by SAS No. 147 in connection with fraud and noncompliance with laws and regulations. Topics including clarifying requirements and guidance related to a successor auditor’s inquiries of a predecessor auditor, responsibilities of the predecessor auditor to respond to successor auditor inquiries when authorized by management, and more.
The course addresses amendments made to AU-C 935, Compliance Audits, by SAS No. 148, to reflect changes made by recently issued auditing standards SAS No. 142 and 145. Topics include identifying the specific amendments made to AU-C 935 that are part of AU-C 315, Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement. The course also identifies amendments to the appendix to AU-C 935 that identifies AU-C sections that are specific excluded from application to compliance audits.
Finally, SAS No. 149 addresses special considerations that apply to a group audit, including in circumstances in which component auditors are involved or when the group auditor makes reference to the audit of a referred-to auditor.
