myCPE
myCPE

Audit Reporting Fundamentals - Introducing Core Concepts in the Audited Financial Statement Drafting and Issuance Process 2.5 Credits

Feb 09, 2024, 03:00 PM ET

Audit Reporting Fundamentals - Introducing Core Concepts in the Audited Financial Statement Drafting and Issuance Process 2.5 Credits

  • Rating

    4.5
  • Reviewed on

    February, 2024
  • Subject Area

    Auditing

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Feb 09, 2024, 03:00 PM ET

Learning Objective

  • To discover and discuss the inter-relationship of basic financial statements and disclosures.
  • To explore the financial statement drafting and issuance process.
  • To identify and perform a quality control check of draft financial statements.
  • To explore the key elements and variations of the auditor’s report.
  • To discover and describe special considerations for financial statements prepared under a special purpose framework.

Course Overview

The overall objective of financial reporting is making smart long-term economic decisions and taking key judgment calls, while the ultimate objective of a financial statement audit is to issue an auditor’s report. The audit report is a primary source of communication between the auditors and users of the financial statements. These users include shareholders, lenders, creditors, and other potential investors, etc. For maintaining their confidence in the operations and reporting of the business, an independent expert’s opinion on the financial statements through an audit is very crucial. 

The webinar discusses fundamental aspects of audit reporting. The speaker Jennifer Louis covers core concepts in drafting Audited financial statements from the relationship of the financial statements, types of audit reports, issuance process, and ensuring the quality of the audited financial statements. The webinar also covers special considerations for financial statements prepared under a special purpose framework that guides the new auditors. 

This Online Continuing Education webinar covers the following Major Topics:

  • The objective of financial reporting and Inter-relationships of financial statements and disclosures
  • Special purpose framework financial statements and the impact on audits
  • Types of audit reports, including reasons for modification
  • Financial statement drafting and issuance process
  • Performing a final quality control check before the report release

This Online CPE webinar on Auditing provides tips and techniques necessary for issuing and reporting on high-quality financial statements prepared under any applicable financial reporting framework.

Click to access more webinars on Accounting & Auditing CPE Courses

Podcast Credits

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On Demand Credits

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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

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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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LM

Lori Mitchell, CPA (US)

It is always good to review to refresh. The presentation was great. The examples describing how to properly review/create FS was excellent. In order for the FS to be informative, the details must be accurate, well organized and complete.

LB

Linda Bontempi, CPA (US)

This was great webinar. Wish I had taken this a few years ago, when I was starting FS work.

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