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myCPE

Analytical Procedures – Comprehending Financial Statement Audit Fundamentals 2.5 Credits

Mar 29, 2024, 03:00 PM ET

Analytical Procedures – Comprehending Financial Statement Audit Fundamentals 2.5 Credits

  • Rating

    4.5
  • Reviewed on

    February, 2024
  • Subject Area

    Auditing

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Mar 29, 2024, 03:00 PM ET

Learning Objective

  • To identify and link preliminary analytic review results to assessed risk of material misstatement.
  • To explore and perform a final overall analysis of audit results.
  • To recognize audit standard requirements, including minimum documentation for substantive analytic procedures.
  • To discover and design typical substantive analytical procedures.
  • To identify quality control deficiencies in substantive analytic procedures.

Course Overview

The purpose of financial data preparation is smart decision-making that helps to achieve long-term value for owners. The primary way to do this is to have an evaluation of the financial information. 

To do this all the financial and non-financial information needs to be analyzed for plausible relationships with other data points covering financial as well as non-financial data. Further, this data needs to be investigated for fluctuations or relationships that may be inconsistent with the information or differ from expected values by a significant value. This is what constitutes analytical procedures. 

To make sure that the analytical procedures follow its steps, it is essential that the required data has been properly designed and documented, and the results of the analytics review evaluated. This is only possible when the audit engagement is performed effectively and efficiently. 

This Online CPE webinar provides a comprehensive view for identifying major misstatements with the preliminary analytic review process. It also provides common pitfalls and key auditing standards to follow. It will take care of the tips and techniques necessary to gather sufficient appropriate audit evidence to support conclusions using analytic procedures common to financial statement audits.

The major topics covered are as follows:

  • Identifying the risk of material misstatement through preliminary analytic review procedures
  • Ensuring sufficient appropriate audit evidence is gathered through the final overall analytic review
  • Establishing expectations for analytic procedures
  • Properly designing, documenting, and evaluating the results of substantive analytic review procedures
  • Disaggregating substantive analytics for stronger results
  • Factors impacting the design of substantive analytic procedures
  • Common pitfalls in performing substantive analytic procedures

Click to access more webinars on Accounting & AuditingIRS Audit CE webinars

On Demand Credits for All Qualifications

Nano Credits for All Qualifications

On Demand Credits for All Qualifications

Live Webinar Credits for All Qualifications

License details Credits Status
Auditing for Certified Public Accountants (CPA-US) 2.5 CPE Approved
Auditing for CPA in Canada 2.5 CPD Eligible
Internal Auditing for Certified Internal Auditors (CIA) 2.5 CPE Eligible
Auditing for Certified Management Accountants (CMA) 2.5 CPE Eligible
Auditing for Delaware Licensed Public Accountant (DE-LPA) 2.5 CPE Eligible
Auditing for Certified Government Financial Manager (CGFM) 2.5 CPE Eligible
Auditing for Certified Fraud Examiner (CFE) 2.5 CPE Eligible
Auditing for Internal Audit Practitioner (IAP) 2.5 CPE Eligible
Association of Chartered Certified Accountants (ACCA) 2.5 CPD Eligible
Chartered Accountant - ICAEW 2.5 CPD Eligible
Auditing for Certification in Risk Management Assurance (CRMA) 2.5 CPE Eligible
Auditing for Certified Internal Controls Auditor (CICA) 2.5 CPE Eligible
Yellow Book Professionals 2.5 CPE Eligible
Auditing for Certified Financial Forensics (CFF) 2.5 CPD Eligible
Auditing for Qualification in Internal Audit Leadership (QIAL) 2.5 CPE Eligible
Auditing for Iowa Licensed Public Accountant (IA-LPA) 2.5 CPE Eligible
Auditing for Maine Licensed Public Accountant (ME-LPA) 2.5 CPE Eligible
Auditing for Certified Controls Specialist (CCS) 2.5 CPE Eligible
Auditing for Certified Government Auditing Professional (CGAP) 2.5 CPE Eligible
CPA - Ireland 2.5 CPD Eligible
Chartered Accountants - Scotland 2.5 CPD Eligible
Chartered Accountants - Ireland (CAI) 2.5 CPD Eligible
License details Credits Status
Auditing for Certified Public Accountants (CPA-US) 2.5 CPE Approved
Auditing for CPA in Canada 2.5 CPD Eligible
Internal Auditing for Certified Internal Auditors (CIA) 2.5 CPE Eligible
Auditing for Certified Management Accountants (CMA) 2.5 CPE Eligible
Auditing for Delaware Licensed Public Accountant (DE-LPA) 2.5 CPE Eligible
Auditing for Certified Government Financial Manager (CGFM) 2.5 CPE Eligible
Auditing for Certified Fraud Examiner (CFE) 2.5 CPE Eligible
Auditing for Internal Audit Practitioner (IAP) 2.5 CPE Eligible
Association of Chartered Certified Accountants (ACCA) 2.5 CPD Eligible
Chartered Accountant - ICAEW 2.5 CPD Eligible
Auditing for Certification in Risk Management Assurance (CRMA) 2.5 CPE Eligible
Auditing for Certified Internal Controls Auditor (CICA) 2.5 CPE Eligible
Yellow Book Professionals 2.5 CPE Eligible
Auditing for Certified Financial Forensics (CFF) 2.5 CPD Eligible
Auditing for Qualification in Internal Audit Leadership (QIAL) 2.5 CPE Eligible
Auditing for Iowa Licensed Public Accountant (IA-LPA) 2.5 CPE Eligible
Auditing for Maine Licensed Public Accountant (ME-LPA) 2.5 CPE Eligible
Auditing for Certified Controls Specialist (CCS) 2.5 CPE Eligible
Auditing for Certified Government Auditing Professional (CGAP) 2.5 CPE Eligible
CPA - Ireland 2.5 CPD Eligible
Chartered Accountants - Scotland 2.5 CPD Eligible
Chartered Accountants - Ireland (CAI) 2.5 CPD Eligible
License details Credits Status
Auditing for Certified Public Accountants (CPA-US) 2.5 CPE Approved
Auditing for CPA in Canada 2.5 CPD Eligible
Internal Auditing for Certified Internal Auditors (CIA) 2.5 CPE Eligible
Auditing for Certified Management Accountants (CMA) 2.5 CPE Eligible
Auditing for Delaware Licensed Public Accountant (DE-LPA) 2.5 CPE Eligible
Auditing for Certified Government Financial Manager (CGFM) 2.5 CPE Eligible
Auditing for Certified Fraud Examiner (CFE) 2.5 CPE Eligible
Auditing for Internal Audit Practitioner (IAP) 2.5 CPE Eligible
Association of Chartered Certified Accountants (ACCA) 2.5 CPD Eligible
Chartered Accountant - ICAEW 2.5 CPD Eligible
Auditing for Certification in Risk Management Assurance (CRMA) 2.5 CPE Eligible
Auditing for Certified Internal Controls Auditor (CICA) 2.5 CPE Eligible
Yellow Book Professionals 2.5 CPE Eligible
Auditing for Certified Financial Forensics (CFF) 2.5 CPD Eligible
Auditing for Qualification in Internal Audit Leadership (QIAL) 2.5 CPE Eligible
Auditing for Iowa Licensed Public Accountant (IA-LPA) 2.5 CPE Eligible
Auditing for Maine Licensed Public Accountant (ME-LPA) 2.5 CPE Eligible
Auditing for Certified Controls Specialist (CCS) 2.5 CPE Eligible
Auditing for Certified Government Auditing Professional (CGAP) 2.5 CPE Eligible
CPA - Ireland 2.5 CPD Eligible
Chartered Accountants - Scotland 2.5 CPD Eligible
Chartered Accountants - Ireland (CAI) 2.5 CPD Eligible
License details Credits Status
Auditing for Certified Public Accountants (CPA-US) 2 CPE Approved
Auditing for CPA in Canada 2 CPD Eligible
Internal Auditing for Certified Internal Auditors (CIA) 2 CPE Eligible
Auditing for Certified Management Accountants (CMA) 2 CPE Eligible
Auditing for Delaware Licensed Public Accountant (DE-LPA) 2 CPE Eligible
Auditing for Certified Government Financial Manager (CGFM) 2 CPE Eligible
Auditing for Certified Fraud Examiner (CFE) 2 CPE Eligible
Auditing for Internal Audit Practitioner (IAP) 2 CPE Eligible
Association of Chartered Certified Accountants (ACCA) 2 CPD Eligible
Chartered Accountant - ICAEW 2 CPD Eligible
Auditing for Certification in Risk Management Assurance (CRMA) 2 CPE Eligible
Auditing for Certified Internal Controls Auditor (CICA) 2 CPE Eligible
Auditing for Qualification in Internal Audit Leadership (QIAL) 2 CPE Eligible
Auditing for Certified Financial Forensics (CFF) 2 CPD Eligible
Auditing for Iowa Licensed Public Accountant (IA-LPA) 2 CPE Eligible
Auditing for Maine Licensed Public Accountant (ME-LPA) 2 CPE Eligible
Auditing for Certified Controls Specialist (CCS) 2 CPE Eligible
Auditing for Certified Government Auditing Professional (CGAP) 2 CPE Eligible
Chartered Accountants - Ireland (CAI) 2 CPD Eligible
Chartered Accountants - Scotland 2 CPD Eligible
CPA - Ireland 2 CPD Eligible

Additional Information

Credits

2.5

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

Pre-requisites

None

Advance Preparation

None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.

About Instructor

Stay Ahead of the Game with Jennifer Louis CPD/CPE Webinars
Jennifer Louis , CPA (US)

President, Emergent Solutions Group LLC

  • 4.5
  • rating
  • rating
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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 organization 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. Besides loving life on the lake with her husband in Charlotte, NC, she enjoys hiking with her little dog Frodo Beggins, and savoring any precious moments spent with her two young adult boys.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Reviews and Ratings

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Lynnae Langmann, CPA (US)
5

Detailed, informative, insightful, well-articulated presentation with helpful handout & case studies/ examples. Thank you.

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Sherri Melsha, CPA (US)
5

Excellent presenter - professional appearance - great communicator - relevant content

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