This course will enable practitioners to understand and apply the AICPA “clarification” auditing standards and the new SAS 145 risk assessment requirements. Further, this course will provide guidance on how to perform an effective, efficient and profitable audit engagement. The course is loaded with practical practice aids to help enable participants to comply with the standards. Troublesome areas as identified in peer reviews and litigation will be covered. Participants who take this course will enjoy a smooth sailing in their peer reviews … guaranteed! This course also includes the “new” Quality Management Standards that replace the Quality Control Standards and their impact audit engagements.