257. New auditing standards, with Mike Manspeaker

With new auditing standards taking effect and more changes on the horizon, staying current is essential for CPAs working in audit and assurance.

In this episode of Future-Proof, we sit down with Mike Manspeaker, past Chair of the MACPA Board of Directors and current member of the AICPA Auditing Standards Board, to discuss the latest developments in auditing standards and what practitioners should be preparing for.

Mike breaks down upcoming requirements for group audits and quality management, along with newly approved standards addressing confirmations and fraud risk. He also shares what's ahead for attestation standards, going concern, and audit technology, offering a behind-the-scenes look at how new standards are developed to improve audit quality while remaining practical for firms.

Resources:

• Mike Manspeaker, CPA, CGMA
• AICPA Quality Management Resources
• SAS 149: Understanding Group Audits
• SAS 151: Fraud Standard at a Glance
• AICPA Auditing Standards Resources