<p>This course will be an overview of:</p> <ul> <li>The Auditing Standards Board issued SAS 142 in July 2020. The standard provides expanded guidance on whether sufficient appropriate evidence has been obtained in an audit.</li> <li>The standard is updated to include a focus on more modern technologies used by those in industry as well as auditors when obtaining evidence.</li> <li>The standard incorporates the use of automated tools and techniques throughout the standard with a focus on how procedures can be performed using tools such as data analytics.</li> <li>The standard also focuses on the use of professional skepticism and moves the requirements for the use of specialist out of AU-C 500 and into AU-C 501. SAS 142 is effective for audits of periods ending on or after December 15, 2022.</li> </ul>