New Auditor Reporting Standard
Audio Webcast: 1.0
Attend this webcast to learn about the new auditor reporting standard which will impact all US private company auditors and must be ready to implement for 2020 year-end audits.

Gather the team together and attend this webcast as a group. Each attendee will earn CPE Credit. Enter the number of attendees in the quantity box above.

Number of Attendees Non-Member Member

1 - 4

$69 $59

5 - 9

$63 $53

10 - 20

$60 $50

21 +

$57 $47

Your order confirmation will include an instruction document for group viewing and earning CPE credit (please review prior to the start of the event) and information on how to access the webcast.

NFP section members receive a 20% discount

When you log into this website with your AICPA member account, the section discount will be automatically applied during checkout. Section discounts cannot be combined with any other offer. Should you have any questions or encounter any issues, please contact the AICPA Service Center at 888-777-7077 or service@aicpa.org.

Private Companies Practice Section (PCPS) members save an additional 20%

PCPS members: Login here to obtain the discount code to enter for this event. Not sure your firm is a member? Send an email and we'll get right back to you! Or, learn more about PCPS membership! Should you have any questions or encounter any issues, please contact the AICPA Service Center at 888-777-7077 or service@aicpa.org.

Employee Benefit Plan Audit Quality Center (EBPAQC) Members Save an Additional 20%

If you are a EBPAQC member, you can save 20% off the registration price. Find out more information on the EBPAQC website.

Government Audit Quality Center (GAQC) Members Save an Additional 20%

If you are a GAQC member, you can save 20% more off the registration price. Find out more information on the GAQC Website.

ON24 Supported System Configurations

  • Windows 7+(Microsoft Edge, Latest Internet Explorer, Firefox, or Chrome)
  • Apple Mac OS 10.9+ (Latest Firefox, Safari, or Chrome)
  • Ubuntu Linux (Firefox only)
  • Android 4.x (Chrome Browser Only)
  • Apple iOs (Latest version, Safari Browser Only)

If you are using an unsupported version of a Windows, Mac, or Linux operating system, you may experience difficulty in viewing and/or listening to the event.

Media Players
In order to access the event, you must have the following streaming media player installed on your computer:

ON24 Supported Browsers

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  • Internet Explorer 9+
  • Mozilla Firefox (Latest)
  • Safari (Latest, Mac Only)
  • Google Chrome (Latest)

Technical Support: For technical support, please contact service@aicpa.org or call 888.777.7077 Mon-Fri 9am-6pm ET.

Detailed information can be found here

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If this symbol is displayed under Delivery Type on the product page, this product offers closed captioning.

For accommodation requests, please contact adaaccessibility@aicpa-cima.com and indicate the product that you are interested in (title, etc.) and the requested accommodation(s): Audio/Visual/Other. A member of our team will be in contact with you promptly to make sure we meet your needs appropriately.

Product details

SAS No. 134

Who Will Benefit?

  • U.S. private entity auditors, including special purpose framework audit engagements

Key Topics

  • New Auditor Reporting Standard, Key Audit Matters (KAM)

Learning Objectives

  • Apply guidance regarding the changes to the format and wording of the revised Auditor's Report
  • Recall the new optional paragraph regarding Key Audit Matters, and when and where to include in the auditor's report

On May 8, the AICPA's Auditing Standards Board (ASB) issued a new Statement on Auditing Standards: SAS No. 134, Auditor Reporting and Amendments, Including Amendments Addressing Disclosures in the Audit of Financial Statements.

This new SAS is a suite of auditor reporting standards that includes a new AU-C section 701, Communicating Key Audit Matters in the Independent Auditor's Report, and replaces the following AU-C sections in AICPA Professional Standards:

  • Section 700, Forming an Opinion and Reporting on Financial Statements
  • Section 705, Modifications to the Opinion in the Independent Auditor's Report
  • Section 706, Emphasis-of-Matter Paragraphs and Other-Matter Paragraphs in the Independent Auditor's Report

SAS No. 134 must be ready to implement for 2020 year-end audits.

During this webcast, we will review the details of the new auditor's report standard, and the impact to all U.S. private company auditors.

Included in: Annual Webcast Pass

Get year-round unrestricted access to this and more than 500 webcasts featuring top experts, regulators and agency representatives discussing topics of importance to you. Learn more...


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    • Symptoms of incorrect bandwidth include freezing or stuttering video during playback.
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It is very common to have multiple pop-up blockers operating at the same time; some you may not be aware of. You can locate most pop-up blockers in either the system tray (lower right hand corner of your screen but the clock) or as a toolbar (in IE and Firefox click on "View" then "Toolbars" to activate or deactivate toolbars).

Common toolbars such as Google and Yahoo Companion have built in pop-up blockers that you may need to disable. Also, if you are running personal firewall software such as Norton's Internet Security or Zonealarm, they will also block pop-ups.

If you are running personal firewall software and cannot view the event, please contact your internal IT department or the manufacturer of your firewall software for assistance in disabling pop-up blocking.

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If you opted for the CPE version of the webcast, then: YES. After the webcast is completed and you have selected all of the qualifying attendance checks, you will have the ability to print/download your CPE certificate. There are a number of ways to access your certificate.

  • At the end of the event, while still logged in, you can click the CPE icon at the bottom of the event player, which will launch a pop-up window containing your certificate.
  • If you do not click the CPE icon while in the presentation, you will have subsequent opportunities to download and print it. A post event email will be sent to the email address the event was registered under with a direct link to your certificate, as well as, access to the archive where you can again click the CPE icon.
  • If you have an AICPA/CPA.com store ID, you will also be able to access your certificate from your My Accounts section. If you opted for the NO CPE version of the webcast, then you will not be able to receive a certificate of completion.

NOTE: If you attended the CPE eligible webcast event, but did not click all the required attendance checks, qualifying you for CPE credit, you will NOT be able to use the archive of the event to then qualify for CPE. As a reminder CPE credit cannot be given for watching the archived version of the webcast due to NASBA guidelines.

Yes. All registrants of our webcasts get access to the archive after the event is over. The archive is typically available 24 hours after the event ends and online for 3 months. The same link you receive for accessing the live event can be used for accessing the archive. CPE credit will only be given if you attend the original, live webcast. Credit cannot be given for watching the archive version of any AICPA webcast, due to the National Association of State Boards of Accountancy (NASBA) guidelines issued for CPE.

When the FAQs in the presentation resource list don't resolve your issue, we ask that you contact us immediately for further assistance using the Q&A function in the presentation or one of the following:

  • Service Center by telephone – 1.888.777.7077
  • Service Center by email – service@aicpa.org
  • Due to varying email volume and processing times, we recommend attempting to contact us by telephone first if you are contacting us on the same day as your event.
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Participation in a live webcast is considered group-study. Credit is based on the scheduled length of the live program, with one 50-minute period equal to one CPE credit. Most webcast are scheduled for 100 minutes or two CPE credits.

You can find more information on the following AICPA Store web page: Important Information on Your CPE Credit.

Yes, you can log in during any portion of the webcast. Please note, however if you do not respond to the required amount of attendance checks, which are randomly distributed throughout the event, you will not qualify to receive your CPE certificate.

You may substitute your registration with another webcast of equal or lesser value if the request is received up to a day prior to the webcast. Refunds, less 50 percent administrative fee, will be issued if cancellation requests are received up to a day prior to webcast. No refunds or substitutions will be issued if cancellation requests are received during the webcast or after the webcast completion. For further information, call the AICPA Service Center at 888-777-7077 or send an email to service@aicpa.org.

Group Access

When a multi-seat group purchase is made, participants will all sit in one room and watch the course together.

After the group purchase is made, the purchaser will receive an email which provides them a direct link to the course. They should use this direct link to access the course.

For those participants sitting together as a group, using a single computer, the person who makes the PURCHASE must be the person logged into the event in order for everyone to receive CPE credit. As the attendance checks are presented on the screen the person logged in must answer them. If all the required checks have been met at the end of the event, the person logged in will click the CPE icon and a form will be provided, so that they can enter each participant who was sitting in the room with them. Once the form is fill out with all the users names/email addresses, then all certificates will be generated for saving/printing.

So what does this mean for my CPE certificate?

If you attended in a group, then the person who is logged in is responsible for responding to the attendance checks. After the event is over and the person logged in selects the CPE icon, they will be required to fill in the name, email and STORE ID of each person sitting in the room. This is why those individuals must have previously registered. Without a valid store ID, the attendee will NOT be able to access their CPE certificate from the MY ACCOUNT option after the event.

Ratings and reviews
Speaker bio

Dan Montgomery

Dan Montgomery is a retired partner of Ernst & Young LLP. At the time of his retirement in December 2014 following a 40-year career with the firm, Dan was a partner in the Global Professional Practice group. He was the firm’s Global Director of Assurance Standards, Methodology and Implementation from 2009-2012, having previously served in a similar capacity in the Americas from 2005-2009. In his global role, Dan had primary responsibility for the firm’s Global Audit Methodology and audit tools. He also was involved with the development of assurance policies and procedures, as well as audit-related training programs and firm publications on auditing matters.

Dan started his career in the Minneapolis office of EY in January 1975. He served a variety of listed and private companies in the manufacturing, consumer products, and financial services sectors, as well as entrepreneurial and venture capital-backed businesses in the software and medical technology sectors, before joining the Americas Professional Practice group in 2001.

Dan was Ernst & Young’s representative on the International Auditing and Assurance Standards Board (IAASB) from 2009-2014 and served as the IAASB Deputy Chair from 2012-2014. He was chair of the IAASB’s priority auditor reporting project, which led to the development of the suite of new and revised auditing standards that were issued in January 2015. In that role, Dan had extensive involvement with public consultations, global roundtables, and direct outreach with global stakeholders, including investors, regulators, and national standard setters, as well as other regulatory bodies and policy makers. He continues to be involved with the IAASB’s auditor reporting implementation activities.

Dan has been actively involved in the development of auditing and assurance standards both globally and in the United States since 2001. He was a member of the Auditing Standards Board from 2004-2007 and currently is a member of the AICPA’s International Auditing Standards Task force (chair from 2012-2014). He previously served as a member of the AICPA Fraud Task Force and Audit Issues Task Force.

Dan received a B.S. degree in accounting from Saint John’s University. (Member since 2015-2016)

Richard Reisig

Shareholder, Anderson ZurMuehlen

Rick Reisig presently serves on the Financial Accounting Foundation’s Private Company Council, and most recently completed an extended term on the AICPA’s Auditing Standards Board. He serves as an AICPA continuing professional education instructor on accounting and auditing topics, and has served on the AICPA’s Board of Examiners and the AICPA’s Practice Analysis Sponsor Advisory Group. He has over 36 years of public accounting experience and serves his firm, Anderson ZurMuehlen & Company, as shareholder for Attest Services, working out of the Great Falls, Montana office. He is a Past President of the Montana Society of CPA’s, and a former member of the AICPA’s Governing Council. He was the 2014 recipient of the MSCPA’s George Anderson Distinguished Service Award, MSCPA’s highest honor. Reisig also serves as a Director-at-Large for the National Association of State Boards of Accountancy (NASBA) and was a former Mountain Regional Director. He is chair of NASBA’s Standards Setting Advisory Committee, and is a past chair/member of the CBT Administration Committee and past member of NASBA’s Relations with Member Boards Committee, Compliance Assurance Committee and CPA Licensing and Examinations Committee. Reisig was a member of the Montana Board of Public Accountants for over 9 years and served two terms as Board Chair. He has a bachelor’s degree in Business, Accounting Option, from Montana State University, and has served on MSU’s College of Business Advisory Council and its Accounting Advisory Council, the board of directors for the MSU Alumni Association and MSU Foundation.

Member Quantity:
Nonmember Quantity:
Standing Order Option
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Available for AICPA members only
CPE credits
Audio Webcast
: 1.0
NASBA Field of Study
Delivery Method
Group Internet Based
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