Audit 308: Audit Reporting and General Audit Procedures
Overview
Audit Reporting Advanced Concepts - Understanding the Impact of General Audit Procedures on Disclosures and Audit Report Modifications will provide guidance for properly altering financial statements and audit reports for certain complex transactions and events that are often uncovered through general audit procedures, such as subsequent testing, reviewing minutes, and more. Each set of financial statements and auditor’s report thereon must properly address the unique circumstances of the specific reporting entity’s circumstances. Note: This course is recommended as a part of a 16-hour audit skills curriculum for in-charge or supervisor auditors, while it is also appropriate for anyone who has responsibilities for audit reporting and general audit procedures. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Highlights
The major topics covered in this course include:
- Common reasons for modifying audit opinions
- Emphasis-of-matter or other-matter explanatory paragraphs
- General audit procedures to identify relevant transactions and events impacting financial statement presentation and disclosure
- Drafting relevant general footnotes, such as related party transactions, subsequent events, loss contingencies, and more
- Improving the footnote drafting process
Prerequisites
Basic audit experience
Designed For
Accountants responsible for drafting footnote disclosures and audit reports
Objectives
After attending this presentation, you will be able to...
- Identify circumstances requiring audit report modifications and explanatory paragraphs
- Determine the importance of applying general audit procedures to identify relevant footnote disclosures
- Distinguish how to improve evaluating disclosures for completeness and understandability
Preparation
None
Notice
This course is offered by a 3rd party vendor and will not be accessible in the My CPE Tracker section of the ISCPA website. Course access information will be emailed directly to you by CPA Crossings.
Leader(s):
Leader Bios
Jennifer Louis, Emergent Solutions Group LLC
Jennifer F. Louis, CPA has over 25 years of experience in designing and instructing high-quality training programs in a wide variety of technical and "soft skills" topics needed for professional and organizational success.
In 2003 she founded Emergent Solutions Group, LLC, where she focuses her energy on designing and delivering high-quality, practical and engaging accounting and auditing training. She was most recently Director of Audit Product Development at Surgent Professional Education, and prior to that served as Executive Vice President/Director of Training Services at AuditWatch, Inc., a highly-respected training and audit process consulting firm. Before joining AuditWatch, Jennifer was the Financial/Operational Audit Manager at AARP. At the start of her professional career, Jennifer was an Audit Manager for Deloitte & Touche LLP, where she frequently served as a local and national instructor. Jennifer graduated summa cum laude from Marymount University with a BBA-Accounting. She currently resides in Charlotte, NC.
Non-Member Price $119.00
Member Price $89.00