CPAR Auditing Practice

CPAR - 2020/May, Seg.04 - Key Audit Matters - What Keeps the Auditor Awake at Night?

Course Overview
The trend in financial statements over the last decade has been more disclosures in the financial statements, and recently, more disclosures in the auditor's report, which has basically remained unchanged for decades. In May 2019, the American Institute of Certified Public Accountants Auditing Standards Board issued SAS No. 134, "Auditor Reporting and Amendments, Including Amendments Addressing Disclosures in the Audit of Financial Statements". This standard dramatically changes the form and content of the auditor's report. Mike Glynn, CPA, CGMA, Staff Liaison for the AICPA's Accounting and Review Services Committee, discusses the impact of this standard on the auditor's report.

Learning Objectives:

Upon successful completion of this segment, you should be able to:

  • Differentiate between critical audit matters and key audit matters in the auditor's report;
  • Identify the impact of the new standards on the auditor's report;
  • Determine the required audit procedures when planning an audit engagement; and
  • Recognize the concept of materiality and how it relates to an audit engagement.

Prerequisites/Advanced Preparation:

Work experience in financial reporting or auditing, or an introductory course in auditing.

Speaker / Author:

SmartPros Ltd. is a leader in online and offline continuing education for accounting, finance and engineering professionals. With over 2,000 hours of content, SmartPros has been providing mandatory continuing education products since 1981. SmartPros provides services and content to its professional and corporate clients, in a variety of media including Web, CD-ROM, and video. In the accounting market, SmartPros also has a predominant news and information portal which receives 200,000+ visits per month and provides services to over 100,000 subscribers. SmartPros' customers include 50% of the Fortune 500, as well as the major firms and associations in each of its professional markets.


Price (USD)

Standard: $69.90


Course Code : CPAR1454-FM

Release Date : 06/03/2020
Expire Date : 07/09/2021
Credits :
CPE 2.00
QAS 2.00

Length : 1hr 40min
Course Level : Update
Course Type : Self-Study
Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Auditing

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