PCAOB AS 1105: Audit Evidence
PCAOB Auditing Standard 1105: Enhancing Audit Evidence and Opinions
The PCAOB Auditing Standard 1105 places significant emphasis on audit evidence, which encompasses all information utilized by auditors to form the conclusions forming the basis of their opinions.
Audit evidence comprises information that both supports and corroborates management's assertions concerning the financial statements or internal control over financial reporting, as well as information that challenges or contradicts such assertions.
This PCAOB Auditing Standard delves into the critical aspects of audit evidence, including:
- The gathering process conducted by auditors
- The importance of sufficient and appropriate evidence
- Establishing a reasonable basis for forming an opinion
Join us for this timely, two-hour morning CPE training event designed for CPA firm staff members engaged in PCAOB regulated audits. Attendees will gain practical insights into incorporating the requirements of Auditing Standard 1105 into their auditing workpapers effectively.
Each participant will earn 2 CPE hours (YB) and receive a certificate of completion, validating their proficiency in applying Auditing Standard 1105.
Don't miss this opportunity to enhance your understanding of audit evidence and its role in forming reliable audit opinions. Register now to gain valuable insights and techniques that will elevate your effectiveness in conducting PCAOB regulated audits.
Details on Event Presentation
Being offered on Wednesdays every six weeks at 10:00 a.m. to 12:00 noon Central Time.
CPE Event Highlights
Based on the relevant professional literature and PCAOB Auditing Standards:
Gathering and recording audit evidence is a complex process,
Selecting audit evidence requires substantial professional judgment,
Audit evidence has to properly support the determination of the facts.
Improve their efficiency and effectiveness
Understand what is sufficient audit evidence
Know how to respond to risk of material misstatement
Apply effective substantive audit procedures
See the need for supervision
Understand the PCAOB documentation requirements
Key Issues on the Agenda
Introductions and Administrative Items
Section 1 - Definitions and Concepts
- Audit Evidence
- Audit Assertions
- Procedures for Obtaining
- Characteristics of Audit Evidence
Section 2 - PCAOB Audit Evidence Standard
- Sufficient Appropriate Audit Evidence
- Financial Statement Assertions
- Audit Procedures
- Testing to Obtain Audit Evidence
Section 3 - Going Forward
NASBA Program Disclosure
Program Level of Understanding: Basic
Advance Preparation: None
Delivery Format: Group Internet Based
NASBA Field(s) of Study: Auditing
CPE Credits: 2, based on 50 minutes of instruction per hour