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myCPE

Certified Financial Statement Auditor (CFSA)

Leverage the Key to Growth with Excellence in Auditing

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Last Updated

November, 2024

CRMA, CPA/CFF, CFE
33.5 Hours 
On Demand
Included with Subscription

Why Professionals Trust Our Advance Certification Programs

  • Access to cutting-edge industry knowledge and practices.
  • Comprehensive training designed to meet professional needs.
  • Fulfill compliance requirements while acquiring valuable skills.
  • Ongoing updates to course content for relevant industry trends.
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What You’ll learn

This auditing certification is designed to prepare you and your team with the latest subjects, auditing techniques, and best practices to achieve excellence in your auditing practice. The expert-led guidance helps you with invaluable insights into the intricacies of the auditing process, risk assessment, and compliance. Witness the positive impact on your performance credibility and help your clients with better control and understanding over their financial interests.

Get Deeper Understanding of:

  • Applying basic skills at the starting point of an audit.
  • Testing for completeness and disclosures.
  • Auditing of crypto assets and liabilities.
  • Auditing revenue recognition.

Recommended For:

  • This certification course is aimed to support the requirements of the Auditing professionals such as CPA, CIA, CFF, and others who desire to have updated knowledge on the trending auditing subjects. It also helps in revising key crucial aspects that are basic to achieve overall success for an auditing practice.
  • The certification course provides invaluable help to the new auditing professionals to bring to speed and join the mainstream firm for fulfilling their roles and responsibilities. However, it can also be very helpful to aspiring auditing professionals in understanding their roles and responsibilities in the shifting landscape of the auditing industry.
  • The certification course can be a useful source of information and knowledge for anyone interested in understanding the aspects of auditing. It can especially be helpful to the business owners, and shareholders in understanding the role of auditor in changing industry requirements.

Why take “Certified Financial Statement Auditor (CFSA)” with myCPE?

Resources included

  • Handout PDFs for every Module
  • Glossary/Key Terms for every Module
  • Q&A directly with instructors.

Career Opportunities

  • Internal Audit Specialist
  • Internal control and Audit Manager
  • Senior Audit Analyst
  • Director Internal Audit
  • Risk Management Consultant
  • Financial Reporting Analyst

Value Addition to your skills

  • Problem-Solving skills
  • Attention to detail
  • Critical thinking and analytical skills
  • Time and Team management skills
  • Project Management skills
  • Planning and Organizational skills

Courses

Course Title Time
1. Auditing Cash – Applying Basic Skills To The Starting Point Of Any Audit
2.5 Hours
  • To discover and discuss designing and performing standard audit procedures related to cash and cash equivalents.
  • To identify and describe typical presentation and disclosure issues related to cash, and recall audit risks related to cash and cash equivalents
  • To explore and explain how to evaluate audit evidence associated with this typically starting audit area, including evidence obtained through inquiry.
2. Auditing Accounts Receivable –Existence and Valuation
2 Hours
  • Discuss typical audit risks and special audit considerations related to accounts receivable.
  • Explain how to tailor a detailed audit plan to assess the risk of material misstatement.
  • Evaluate external confirmation responses for propriety.
3. Auditing Expense Reimbursements
2 Hours
  • To identify basic audit techniques.
  • To identify red flags for expense reimbursement fraud.
  • Apply practical advice for conducting comprehensive audits of expense reimbursements.
4. Auditing PPP and EIDL Loans
2 Hours
  • To identify eligibility and basic audit techniques and procedures for auditing EIDL and PPP loans. 
  • To identify red flags for PPP or EIDL fraud.
  • To document expenses paid for with loan funds.
5. Auditing PP&E, Including Leases under Topic 842
2 Hours
  • Discuss typical audit risks and special audit considerations for tangible long-lived assets.
  • Tailor a detailed audit plan to respond to the assessed risk of material misstatement related to fixed assets and leases.
  • Explain key controls related to property, plant, and equipment.
6. Auditing Contingencies and Going Concern Uncertainty – Testing for Completeness and Proper Disclosure
2.5 Hours
  • To analyze and describe accounting and auditing requirements for commitments and contingencies.
  • To discuss litigation, claims, and assessment special considerations, and explore the auditor's responsibility for evaluating the appropriateness of going concerning accounting and disclosure.
  • To analyze management's policies and procedures for identifying, evaluating, and accounting for litigation, claims, and assessment
7. Auditing Impairment of Long-Lived Assets, Including Goodwill – Identifying and Calculating Impairment Losses
2.5 Hours
  • To describe typical assets subject to impairment, and identify indicators of impairment and recoverability testing for both tangible and intangible long-lived assets.
  • To explore goodwill accounting and auditing risks, and analyze the measurement of impairment loss.
  • To discuss cash flow sensitivity analysis and consider different methods of cash flow.
8. Auditing of Common Investments
2 Hours
  • Explain typical audit risks associated with auditing the most common investments.
  • Discuss how to tailor the audit plan to assess the risks of material misstatement.
  • Explain fair value presentation and disclosure requirements.
9. Auditing Liabilities, Including Long-Term Debt – Addressing the Risks of Completeness, Classification, and Disclosure
2.5 Hours
  • To discuss typical audit risks and special audit considerations related to various liabilities.
  • To recognize and tailor the audit plan in response to the assessed risk of material misstatement, and evaluate results from a search for unrecorded liabilities and procedures to assess the propriety of accrued estimates.
  • To identify the completeness, classification, and disclosure of financing arrangements – including debt covenant compliance.
10. Auditing Revenue Recognition – Grasping the Higher Risks and Special Audit Considerations
2.5 Hours
  • To discuss typical revenue recognition risks, including the impact of applying the newest revenue recognition model of Topic 606.
  • To explain how to link the assessed risk of material misstatement to a detailed audit plan for revenue recognized in a contract with a customer.
  • To describe special revenue recognition considerations, such as contracts with financing elements, multiple distinct performance obligations, and more.
11. Auditing for Waste
2 Hours
  • To identify the requirements for considering waste in an audit plan.
  • To determine audit procedures for waste in a government entity, identify basic audit techniques for waste in a government entity, and characterize and quantify waste streams. 
  • to analyze the risks and procedures for detecting waste in government entities.
12. Auditing Crypto Assets & Liabilities
2 Hours
  • To define cryptocurrency, and identify the steps in an audit of crypto assets & liabilities
  • To identify audit procedures for auditing crypto assets & liabilities, and describe the applications of cryptocurrency and blockchain technologies.
  • To explain the audit consideration factors for client acceptance and continuance, and address specific audit risks unique to cryptocurrency transactions and balances.
13. Auditing for Corruption
2 Hours
  • To identify basic audit techniques
  • To identify red flags for corruption.
  • Understand legal and ethical considerations in auditing and investigating corruption.
14. Accounting Estimates, Including Fair Value: Evaluating the Propriety of Areas with Uncertainty
3 Hours
  • To describe typical areas of estimation and related audit risks; and how to link the assessed risk of material misstatement to a detailed audit plan.
  • To discuss the importance of challenging management’s assumptions when auditing estimates and explore fair value modeling techniques.
  • To analyze how to properly evaluate the sufficiency and appropriateness of audit evidence and resulting conclusions when there is accounting uncertainty.
15. Auditing Financial Statement Notes & Disclosures
2 Hours
  • To identify common notes and disclosures.
  • To review audit procedures for common notes and disclosures.
  • To explain what the auditor should consider while reading the notes and disclosures.
Disclaimer : Before attending any course, please verify that the credit details align with your qualification requirements. This certificate is designed to help you acquire new skills and knowledge, which may or may not fulfill specific compliance criteria. While we have made every effort to ensure our courses adhere to compliance standards, we recommend reviewing the details to confirm applicability for your needs.

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Effective Financial Statement Auditing

“The instructors are really thorough in their auditing areas. I loved the approach of Jennifer Louis and Dr. Minniti. The way she has helped me in this course. Overall this is a very useful course for all the staff auditors. I would recommend it to auditing professionals and auditing firms.”

Lindsay Porter
Lindsay Porter, IAP

Internal Auditor

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Basics of Financial Statement Auditing

“This certificate course covered many areas that are very basic in nature. A certificate course in them really helps a new auditor in training as well as revisiting for an experienced auditor over a certain period. Loved the experience of the platform and tests as they cover many important aspects.”

Dee Elwood
Dee Elwood, CRMA

Auditor

trusted

Crypto Assets and Liabilities in Auditing

“The pace of the overall course is really interesting. It has good value in a number of topics that I specifically wanted to explore. Especially the course in crypto assets and liabilities is very helpful. Worth the time and effort to do it religiously. Well-organized and structured course. Packed with value. Loving the certificate course. I have got some very useful pointers. Very useful for professionals.”

Cho Cottrell
Cho Cottrell, CICA

IT Auditor

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Frequently Asked Questions

The “Certified Financial Statement Auditor (CFSA)” is a very helpful certificate course covering all the crucial areas for a cutting-edge auditor. The certification provides basic points of check to the starting point of any audit. The course helps in exploring key areas of auditing including cash, accounts receivables, expense reimbursement, EIDL loans, treatment of tangible long-lived assets, revenue recognition, and more. The course provides completeness, disclosures, risk, and special consideration aspects. The course introduces waste, crypto assets & liabilities, and corruption as crucial aspects of new auditing practices. The course also touches on the financial statements notes that can ensure completeness and accuracy. Thus, the Certified Financial Statement Auditor (CFSA) provides optimal coverage of subjects of auditing that are crucial for auditing professionals.

The “Certified Financial Statement Auditor (CFSA)” provides a very insightful experience in revising the basics of auditing. The certification provides procedural guidelines, best practices, and practical examples at necessary points to cover the needs of modern-day staff audit training. It helps cover new trending topics in auditing and shows how it can achieve success for the auditing firm. Providing insights on the risk areas, internal control points, and auditing success strategies, the course ensures that you have a chance to achieve the best growth as an auditor and an auditing practice. Thus, the “Certified Financial Statement Auditor (CFSA)” is very helpful.

Certificate course is created by a qualified and experienced instructor(s). myCPE Certificate Courses includes Self-study Courses. Most of the courses are in the form of On-demand Videos. The Self-study Video courses in Certificate courses may be Live recorded presentations converted into Self Study (On-Demand Videos).

You can take your time and attend the course at your own pace. You can take exam unlimited time. So, don’t worry, if you are not able to pass an exam. You will be getting a chance to attend the exam again.

After completion of each course of this Certification Programs, you will be able to download a certificate with the course title and number of hours. Certificates, as well as your study records, are stored for life and you can access them anytime. Certificates are valid proof for your continuing education credits and you can also add it as an additional designation.

Once you register you will have complete access to all the courses of this Certification Programs. The self-study format allows you to access the material online 24x7 and study at your own pace.

As per NASBA guidelines, you have one year from date of purchase of your certificate to complete each program. After completion of each course, you can attend final exam any time and get CPE Credit instantly. You can retake the exam multiple times without any additional charges.

Course have minimum passing score of 70% in the final exam and you can take multiple attempts of the said exam.

Our video player tracks & stores the watch time and will show you in the progress bar. But you make sure that you don’t fast forward or manually try to move the progress bar. If you have fast forwarded the video or tried to manually move the progress bar of the video. System wouldn’t capture your watch time. So please, let the video go on its own. However, being on-demand video you can pause and play and whenever you want and you can watch it in pieces. It will pick up from where you left off. So, for a self study courses you will have to
1. Complete the entire video 100%.
2. Answer all the review questions correctly. The review questions are at the bottom of the same page where you are viewing the course video.
3. Once you have watched the whole video and answered all the review questions, the Final Quiz will open up. You need to score more than 70% in the Final Quiz to avail your CPE credit. Multiple attempts are allowed for submitting Review and Final Quiz questions.
4. Once you have completed the Review and Final quiz questions, you shall be able to download the credit certificate from the ‘My Certificates’ section. Kindly ensure you have allowed Multiple File download from your web browser to download all certificates.
5. You can download individual certificate from your "Account" as well as from this page once you complete a particular courses. Also, you can download "Consolidated Certificate" from the package page or from your account.

A Self-study course is a recorded video (If it’s a recording of a live course you may see polling questions appearing on the screen. You do not need to answer the polling questions and just let the video play). Do not fast forward. If you fast forward, we may not be able to capture your watch time and you may be required to watch it multiple times. In order to avail your credits for the self-study course, you need to answer the review questions correctly and complete the entire video. Once you have done that, the Final Quiz will open up in which you need to score a minimum 70% to qualify for the credit. You can attempt multiple times for answering the review questions and Final quiz questions. Once you have completed the Review and Final quiz questions, you shall be able to download the credit certificate from ‘My Certificates’ section.
If neither of the above cases works, please drop an email to support@my-cpe.com or contact our support team through live chat support.

The evaluation form will be sent to attendees in the next 24 hours after passing the final quiz with at least 70% marks. Kindly note that the evaluation form will only be available to attendees who remained logged in till the end of the course and answered all the polling questions.

MY-CPE LLC is PCI Compliant - Approved. myCPE uses a secure payment gateway (Stripe.com) to process your payment details. This payment gateway is in accordance with the PCI-DSS Compliance. Therefore, your payment details are secure through SSL encryption. CLICK HERE to view our PCI compliance certificate. Once you have register for the package and paid for it you shall not be granted any refund unless you are not able to access courses for any reason etc.
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