Course Information

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SAS 119: Supplementary Information in Relation to the Financial Statements as a Whole
Author: Perry M. Henderson, CPA, MPA

Description:
SAS 119 introduces considerable changes to the standard report wording for auditor’s reports on supplementary information, and significantly adds to existing standards by requiring certain specified procedures, beyond those performed during the audit of financial statements, when auditors report on whether supplementary information is fairly stated in all material respects. It also defines the term supplementary information. Along with SAS 118, it supersedes SAS 29, (AU section 551) Reporting on Information Accompanying the Basic Financial Statements in Auditor-Submitted Documents.

After taking this course, the reader should be able to:

  • Explain the auditor’s responsibilities with respect to supplementary information in relation to the financial statements as a whole.
  • List the additional procedures that are to be applied to supplementary information.
  • Report properly on supplementary information, using the new standard report wording.
  • Recognize practical situations in which modifications to the standard report wording are required.

Course Details:
Price:  $32.00
Field of Study:  Auditing
Prerequisites:  None
Level:  Basic
Advanced Preparation:  None
Course was last updated on:  05/05/10
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Library:
Learning Center Core

Technical Requirements:
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Credit Available For: Units
CPE 2.0 CPE
QAS 2.0 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.

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