Course ID: ABB6

Auditing Bits in Bytes Session 6: General Procedures & Engagement Wrap-Up – Avoiding the Black Hole of Time


Get a practical break-down of “Real World” best practices applied in highly successful audits. Attempting to perform an effective and efficient audit can be intimidating and confusing, for new and experienced auditors alike. This series of eight individual segments will provide valuable tips and techniques from an experienced auditor that are needed to successfully design and perform financial statement audits in “real-life” circumstances. 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. (1-2 CPE hours)


LEARNING OBJECTIVES
  • Describe all activities that occur during the engagement wrap-up phase of the engagement, which includes general audit procedures, audit report drafting, and audit report release
  • Explain how this phase of the engagement can easily unravel all good intentions as it relates to audit quality and profitability
  • Apply professional judgment and best practices for an effective and efficient engagement

MAJOR TOPICS
  • General Procedures Considerations
    -Going Concern
    -Subsequent Events
    -Attorney’s Letters
    -Management Representation Letter
  • Audit Report Dating – How to handle “real-life” issues/concerns encountered by firms (e.g., issuing multiple audit reports with an appropriate audit report date, subsequent events identified after audit report date but prior to report release date, sufficiently fulfilling the document completion date requirements, etc.)
  • Audit Report Modifications – Appropriate circumstances to add emphasis-of-matter or other-matter paragraphs, or when to
  • 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.

DESIGNED FOR
Public accountants interested in increasing the quality and profitability of audit engagements

PREREQUISITES
None

COURSE PRODUCER
Business Learning Institute

CPE CREDITS
2.0

LEVEL
Basic

This course is available to be scheduled as:

Group Live On-Demand - 2 hours
 

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