Avoiding the Most Misapplied Audit Concepts

Recent new auditing standards are designed to improve overall audit quality. The course will address the most common misapplied audit concepts in planning and performing effective and efficient financial statement audits.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

The major topics that will be covered in this course include:

• Risk Assessment - Properly assessing inherent, control, and detection risk on an engagement, and linking the results to an appropriately tailored detailed audit plan based on risk assessment and client service goals, regardless of entity type.
• Substantive Analytics- Leveraging strong substantive analytic procedures as audit evidence to cut back on tests of details.
• Selecting items to test common misunderstandings related to designing, performing and concluding on tests of details, including sampling.
• Identifying and Evaluating Internal Control Deficiencies - Emphasizing the importance of identifying both design and operating effectiveness deficiencies during the course of the audit, and how to properly categorize deficiencies as inconsequential, significant or material for impact on the audit or required communications with management and those charged with governance.

Who will benefit:

Any financial statement auditor who wishes to learn how to be more effective and efficient on engagements.

This webcast is hosted on CPA Crossing platform. Attendees will receive instructions on how to attend the webcast via e-mail.