Surgent's Update on Recent AICPA Standard Setting: Staying Current in a Changing Environment

Professional standards are changing with the times and the desire of the AICPA to move the profession into a new era where use of technology will play a key role in an audit and professional skepticism, independence, and quality are emphasized. We are seeing changes already as the AICPA has issued 15 new standards since 2019. This program will discuss SASs 134 through 149.

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

• Identify and understand the requirements of recently issued SASs and SSARS
• Develop implementation tips and best practices related to these new standards
• Implement best practices for enhancing engagement quality

• AICPA hot topics and standard setting initiatives
• Discussion of suite of nine integrated SASs effective for years ended December 31, 2021
• Discussion of new standard on audit evidence effective for years ended December 31, 2022
• Discussion of new standard on auditing accounting estimates and disclosures effective for years ended December 31, 2023
• Discussion of two new 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 beginning in 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

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