Course Information

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SAS 109: Understanding the Entity and its Environment and Assessing the Risks of Material Misstatement
Author: Perry M. Henderson, CPA, MPA

Description:
This course explains SAS 109, which establishes new standards for auditors of non-public entities. SAS 109 specifies that auditors must obtain a sufficient understanding of the entity and its environment, including its internal control, to assess the risk of material misstatement of the financial statements, whether due to error or fraud. That understanding must also be sufficient for the auditor to design the nature, timing and extent of further audit procedures.

Course Details:
Price:  $36.00
Field of Study:  Auditing
Prerequisites:  Basic knowledge of auditing procedures
Level:  Overview
Course was last updated on:  08/13/2007
Library:
Learning Center Core
Accounting and Audit

Technical Requirements:
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Credit Available For: Units
CPE 3.00 CPE
QAS 3.00 CPE

Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of this course.

Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of this course to meet those specifications.