Webcast: Understanding the Revised Going Concern Standard (New SAS 132) (XAURG17)
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In January 2017, the AICPA’s Auditing Standards Board (ASB) approved the issuance of Statement on Auditing Standards No. 132, The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern. Hear from an industry expert as this new SAS will be effective for audits of financial statements for periods ending on or after December 15, 2017 and for reviews of interim financial information for interim periods beginning after fiscal years ending on or after December 15, 2017.

5/26/2017
When: 05/26/2017
1:00 PM until 2:00 pm
Where: Webcast
AICPA
1366995:700DCF1BF700E20A951FB29696714C49
United States
Presenter: Steven Morrison


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AcronymXAURG17
CPE1 hours
VendorAICPA
Category
Auditing
LevelIntermediate
PrerequisiteSome knowledge of the existing Going Concern standard
Adv PrepNone
Yellow Book?No
Designed for
Registration
Member$59
CPA Non-Member$69

The Member rate applies to LCPA members, other state society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.

Course Description

In January 2017, the AICPA’s Auditing Standards Board (ASB) approved the issuance of Statement on Auditing Standards No. 132, The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern. Hear from an industry expert as this new SAS will be effective for audits of financial statements for periods ending on or after December 15, 2017 and for reviews of interim financial information for interim periods beginning after fiscal years ending on or after December 15, 2017.

Objectives
This webcast will include:

  • An overview of the new SAS 
  • Discussion of the auditor’s responsibilities relating to: 
    • Obtaining audit evidence and concluding on the appropriateness of management’s use of the going concern basis of accounting 
    • Concluding, based on the audit evidence obtained, whether substantial doubt exists 
    • Evaluating the adequacy of disclosures regarding the entity’s ability to continue as a going concern 
  • Discussion of the new application guidance regarding the auditor’s consideration of third-party support and support letters