2025 Standards Updates to Know
Jan. 29, 2025
Below are two lists of newly effective standards and the recent exposure drafts from the PEEC, FASB and GASB related to upcoming changes in technical standards.
Newly Effective Standards
| SASs | Description |
| 142 | Audit Evidence Periods ending on or after Dec. 15, 2022 |
| 143 | Auditing accounting estimates and related disclosures Periods ending on or after Dec. 15, 2023 |
| 144 | Use of specialists and use of pricing information Periods ending on or after Dec. 15, 2023 |
| 145 | Risk Assessment Periods beginning on or after Dec. 15, 2025 |
| 146 | Quality Management for Engagements Periods beginning on or after Dec. 15, 2025 |
| 147 | Noncompliance with Laws and Regulations (NOCLAR) Periods beginning on or after June 30, 2023 |
| 148 | Amendments to AU-C 935, Compliance Audits Split to be consistent with SAS 142 and with SAS 143, based on specific amendment |
| 149 | Group Audits Audits of group financial statements for period sending on or after Dec. 15, 2026 |
Exposure Drafts for Upcoming Standards