DESCRIPTION
This course prepares participants to effectively and efficiently set up DAS engagements, utilizing Central Planning and/or Consolidations as appropriate. Through small group activities, participants will practice determining the best set-up approach for example fact patterns, including discussion of benefits and drawbacks for scenarios where multiple approaches could apply. The module also covers key concepts from SAS 149, including the definition of a group audit and group financial statements and requirements relating to component auditors and referred-to auditors. Through a DAS-integrated group audit activity, partipants will learn about the key requirements in SAS 149 and where and how they are executed in DAS.
LEARNING OBJECTIVES
- Explain the purpose and functionality of Central Planning and Consolidations within DAS
- Evaluate available approaches for setting up a new or recurring DAS file using Central Planning and/or Consolidations, based on engagement characteristics and complexity
- Apply professional judgment to balance efficiency and documentation quality when configuring DAS for group audits or multi-entity engagements
- Explain the key concepts and requirements of SAS 149 that affect group audit engagements
- Adjust the audit plan within DAS to comply with SAS 149, including considerations related to Group Audit Central and Consolidations within DAS
