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The Basic Audit Concept (Audit Skills Training: Level 1) (A1M6)

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Self-Study SELECT STARTING AT $54 (On Demand)

On-Demand Webcast

Credits: 3

Qualifies For: CPE

$54
  • It was an awesome course. I have recommended it to a couple of CPA friends.

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The Basic Audit Concept (Audit Skills Training: Level 1) (A1M6)

  • Customer Rating
  • Field of Study
    Auditing
  • Level
    Basic
  • Credits
    3
  • Qualifies for

    CPE

Overview

Financial statement auditors are engaged to provide reasonable assurance that financial statements are not materially misstated, whether due to fraud or error. Professional standards require auditors to obtain sufficient and appropriate evidence to support that opinion. It is critical for effective and efficient auditors to have a clear understanding of all the important elements and concepts related to a financial statement audit.

Major Topics:

  • The reason that entities engage a financial statement audit
  • List the applicable financial reporting frameworks available
  • Differentiate the responsibilities of management and auditors
  • The various phases of a financial statement audit
  • Evaluating and documenting audit risk, both at the overall and relevant assertion level
  • Case study differentiating high risk audit engagements and higher risk audit areas

Learning Objectives

  • Discuss the basis for an audit
  • Explain the auditor’s professional responsibilities
  • Describe important audit concepts, such as materiality
  • Explain the audit risk formula
  • Discuss considerations when Identifying and assessing risk of material misstatement

Designed for:

Professionals new to auditing

Prerequisite:

None

Advanced Preparation:

None

  • It was an awesome course. I have recommended it to a couple of CPA friends.

    - A Surgent Customer

Interested in bringing this course into your firm?

PRIVATE WEBINARS AND LIVE ON-SITE COURSES ARE AVAILABLE. LEARN MORE.
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