Auditing Financing Statements
SKU: 06-180-01-CPE
Credit Hours: 4
Level: Basic
CPE Category: Auditing
Requires Prerequisites or Advanced Preparation: No
Delivery Method: Online Video
Instructor: Blair Cook
Course Description:
In this course, we learn how public accountants plan and execute an audit. Beginning with an overview of the financial statement audit itself and move on to a look at audit process, evidence, risk models and core audit principles, internal controls and fraud controls, including the COSO framework, testing controls, fraud schemes and auditing cycles and audit completion.
This course will cover the following objectives:
- Discover the purpose and nature of a financial statement audit, identify the players in the auditing industry, and recognize ethical considerations in auditing
- Identify different forms of auditor's reports and discover the three phases of the audit process: planning, execution, and completion
- Identify management assertions
- Discover the various forms of audit evidence and the audit risk model
- Discover how to assess inherent risk and calculate financial statement materiality
- Identify different types of manual and electronic internal controls and fraud risks and controls
- Discover approaches for assessing control risk, testing approaches for internal controls, and audit planning and the preparation of audit programs
- Identify approaches to auditing for fraud and auditing the sales cycle
- Discover substantive audit procedures
- Recognize how to conduct audit completion procedures