Understanding SAS 94

By Bruce H. Nearon

SAS 94 is a recent addition to professional auditing standards that describes the effect of information technology on the auditor’s consideration of internal control in a financial statement audit. On April 26, an Emerging Technologies Committee continuing professional education (CPE) presentation will interpret SAS 94 and offer practitioners guidance on what new or modified procedures they should consider in their financial statement audits.

Information technology affects all audit clients, big or small. Almost all financial information is processed by computers; however, most practitioners still rely on paper documents for their audit procedures. The danger in this approach is that often the documents auditors use are a product of information technology. Audit evidence based on these documents may lack credibility and may lead to erroneous audit decisions.

The presentation will cover certain risks as well as quick and easy procedures that can be employed to determine if audit evidence lacks credibility. Procedures that result in valuable comments for management letters will be discussed, too.

Date: April 26, 2002
Time: 9:30 a.m. to 10:30 a.m.
Presenter: Bruce H. Nearon, CPA, J.H. Cohn, LLP
Location: NYSSCPA Headquarters, 530 Fifth Ave., Fifth Floor, New York City
Additional Information
All Emerging Technologies Committee CPE presentations are free to New York State Society of CPAs members and $15 for nonmembers. The CPE provides an excellent opportunity to network with the profession’s and industry’s information technology leaders.

Advance registration is recommended because seating is available on a first come/first served basis. To register, visit the Society’s website at www.nysscpa.org or call (800) 537-3635.

For presentation information, contact Gary Carpenter at (315) 487-4567 or gcarpenter-cit@worldnet.att.net or Bruce Nearon at (973) 403-6955 or bnearon@jhcohn.com.