After working remotely due to the COVID-19 pandemic, auditors may feel more familiar with the automated tools and techniques referenced in the AICPA’s recently issued Statement on Auditing Standards No. 142.
SAS No. 142 is principles-based with requirements and guidance that establish a conceptual framework on what to consider when evaluating audit evidence. The standard also reconsiders broad generalizations to better reflect the evolving nature of today’s business environment.
Find more standard highlights here.