The proposed SAS would (1) “provide guidance on applying SAS No. 143 when management
has used the work of a specialist in making accounting estimates,” (2) “provide
guidance on the use of pricing information obtained from external information
sources to be used as audit evidence for estimates related to the fair value of
financial instruments,” and (3) “enhance the guidance related to using the work of
an auditor’s specialist.”
Comments on the proposed SAS are due by February 4, 2021.