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Interactive Workshop: Performing Substantive Testing and General Audit Procedures (PSUB)

  • Format Live Seminar
  • Credits 8
  • Level Intermediate
  • Field of Study Auditing (8)

To register for a live seminar, visit the sponsoring state society’s website.

See Locations for this Course


This fast-paced, highly-interactive, and hands-on workshop is designed for auditors of small- and medium-sized businesses. Every 15 minutes, a 10-minute case study, exercise, discussion group or other form of interaction will be used to create the most dynamic learning environment possible to allow you to put your learning into action. Whether you do one audit or multiple audits - this course is guaranteed to be practical, engaging, and interesting!

Major Topics

  • Properly designing, performing, and evaluating the results of substantive analytic procedures
  • Commonly misapplied audit sampling concepts for tests of details
  • Important external confirmation requirements
  • Ensuring appropriate fair value measurement and disclosure for common investments held by private companies
  • Evaluating the proper treatment of “plain vanilla” derivatives
  • Meeting the minimum audit requirements of inventory observations
  • Auditing estimates for reasonableness, such as reserves and allowances
  • Determining compliance with debt covenant requirements to ensure proper presentation and disclosure of debt
  • Performing subsequent events review procedures
  • Evaluating communications with external attorneys and other contingency audit procedures
  • Evaluating an entity’s ability to continue as a going concern
  • Reviewing the sufficiency and appropriateness of audit documentation to support audit conclusions
  • Getting the audit report date right, and other important dates in an audit
  • When to modify the audit report, including emphasis-of-matter paragraphs and special purpose framework audit reports
  • Required communications of internal control matters noted on the audit
  • Important communications with management and those charged with governance beyond internal control deficiencies

Learning Objectives

  • Describe properly designed and performed audit procedures for common areas of higher risk of material misstatement in small- and mid-size businesses
  • Discuss important considerations when performing general audit and engagement wrap-up procedures
  • Explain key audit report and other required audit communication considerations

Who should take this course:

Public accounting professionals who perform audits of small- and mid-size businesses

Basic familiarity with financial statement audits, as this will be a fast-paced look at only the most important aspects of an audit








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