Course Information

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SAS 106: Audit Evidence
Author: Perry M. Henderson, CPA, MPA

Description:
In this course, the author details the Statement on Auditing Standards No. 106, Audit Evidence, (SAS 106).

SAS 106 significantly expands and recategorizes the assertions used in audits for:

  • Account Balances
  • Transaction Classes
  • Disclosures

It also requires a closer correlation between those assertions and the audit procedures used in gathering audit evidence.

It provides new definitions of several terms including audit evidence and the sufficiency and appropriateness of that evidence.

It also creates significant new guidance for using relevant assertions to assess risk and design audit procedures; assessing the reliability of various types of audit evidence; risk assessment's place in the body of audit evidence; and uses and limitations of inquiry.

Finally, it describes the risk assessment procedures of inquiry, analytical procedures, observation, and inspection. SAS106 supersedes SAS31, Evidential Matter.

Course Details:
Price:  $51.00
Field of Study:  Auditing
Prerequisites:  Basic knowledge of auditing procedures
Level:  Basic
Course was last updated on:  05/02/2007
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.