Auditing Bits in Bytes™ Session 5: Substantive Testing

Overview

This 2-hour session focuses on performing the substantive audit procedures outlined in the detailed audit plan. Common deficiencies in performing and documenting these further audit procedures will be discussed.

Highlights

Key Topics

• Nature, Timing & Extent of Substantive Testing - How to gather sufficient and appropriate audit evidence to support the audit opinion
• Sampling Considerations - Common misunderstandings related to designing, performing and concluding on tests of details
• Substantive Analytic Review - Typical deficiencies in designing, documenting and leveraging audit evidence gathered through these further audit procedures
• Confirmations - Mistakes made in designing and evaluating the results of third-party confirmations as a form of persuasive audit evidence
• Extensive illustrative examples and exercises will be used to reinforce a practical understanding of the most critical principles and standards that support a high-quality, insightful, and profitable engagement.

Prerequisites

None

Designed For

Who Will Benefit

Anyone who is new to auditing or desires a refresher in how to perform effective and efficient financial statement audits for non-issuers in accordance with professional and regulatory standards