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Update on Recent AICPA Standard Setting: Staying Current in a Changing Environment (USS4)

Friday, August 28, 2026
09:00 AM - 12:30 PM (Eastern)

Marci Thomas, CPA

  • Format Webinar
  • Credits 4.00
  • Level Intermediate
  • Field of Study Auditing (4)

$159.00

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Overview


The AICPA continues to reshape the auditing profession through an unprecedented pace of standard setting, with increased emphasis on technology, professional skepticism, risk assessment, and engagement quality. Since 2019, numerous new and revised auditing standards have significantly changed how audits are planned, performed, and evaluated.

This course provides an update on recent AICPA standard setting activities, including SASs 142 through 149. It also addresses the AICPA’s quality management standards, which replace traditional quality control requirements with a risk based approach to managing quality at both the firm and engagement levels. In addition, the program highlights emerging developments in fraud related auditing guidance, including the AICPA’s proposed fraud standard currently in exposure draft form.

Designed for accounting and auditing practitioners at all levels, this course helps participants stay current on key changes affecting audit performance, documentation, and engagement quality in a rapidly evolving professional environment.

Major Topics:

  • AICPA hot topics and standard-setting initiatives
  • AICPA Quality Management Standards: SQMS No. 1, SQMS No. 2, and SQMS No. 3
  • Consideration of fraud in a financial statement audit
  • Discussion of the standard on audit evidence effective for years ended December 31, 2022
  • Discussion of the standard on auditing accounting estimates and disclosures effective as of December 31, 2023
  • Discussion of the two standards on use of specialists and information from a pricing service, and the newly updated risk assessment standard effective for years ended December 31, 2023
  • Discussion of standards that are effective as of 2025, including those dealing with client acceptance and questions asked of the predecessor auditor, the partner’s responsibility for engagement quality, group audits, conforming changes to compliance auditing, and more

Learning Objectives

  • Identify and summarize the key requirements of recently issued AICPA auditing standards, including SASs 142–149
  • Understand recent and proposed changes to fraud-related auditing guidance and their relationship to risk assessment and professional skepticism
  • Evaluate how recent standard-setting developments affect audit planning, performance, and documentation
  • Apply high-level implementation considerations to enhance engagement quality and compliance with evolving AICPA standards

Who should take this course:

Accounting and auditing practitioners at all levels desiring to stay current on AICPA professional standards

Experience in accounting and auditing

None

No

No

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