Understanding the Audit Process

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Overview

2.0 Credits
ONLINE

This CPE course provides a general overview of the entire audit process, from start to finish. In covering the overall process of an audit, the course will guide new staff from pre-engagement activities and client acceptance through concluding procedures. Along the way, the module touches on procedures and standards that guide the flow of the audit. In addition, the course covers steps related to planning, materiality, risk assessment, analytical procedures, internal controls, and walkthroughs. Details of individual steps are covered in other modules.

Objectives

Recall the professional responsibilities for an auditor, as prescribed by generally accepted auditing standards (GAAS) Identify the individual procedures that collectively represent the pre-engagement activities of an audit Recall the individual procedures that collectively represent the majority of test work performed during an audit Identify common procedures to finalize an audit

Major Topics

Relevant professional standards Defining professional responsibilities Pre-engagement activities and client acceptance Further audit procedures Financial statements Concluding procedures

Designed For

Recently onboarded staff First-year staff Firms that want consistent training and level setting
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