Financial Statement Audit Best Practices

  • Accountant
  • CPA (CA)
  • CFE
  • CIA
  • CPA (US)
  • IAP
  • QIAL
  • CFIRS
  • CWS
  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Course Description

Auditors have a duty to express their view as to whether the company’s financial statements present fairly the financial condition of the company and are therefore free of any material misstatements. On the reliability of such a view, many stake holders take important business decisions. For instance, investors and lenders rely on the opinion of an independent outside auditor to make their economic decisions to invest or lend their money. 

Realizing the importance of audit, regulators, and many legislative bodies apply strict controls on audit procedures. However, this can be a risk-laden area for compliance professionals due to the ongoing legal requirements of Sarbanes-Oxley and other Acts. Although there are well-established procedures for proceeding with an audit, some may tend to be especially risky and should be replaced by those that have proven more effective and more efficient. 

This webinar covers the following major topics that provide information and guidance as to how this can be efficiently applied and ensured.

Major Topics Covered:

  • What is a financial statement audit?
  • Why a financial statement audit is required?
  • The expansive role of the audit committee
  • The 6 phases of the financial statement audit process
  • Quality system and legal compliance audit checklists
  • Audit procedures for income statements, revenue, fraud detection, cash procedures
  • Reporting - audit opinion preparation best practices

Learning Objectives

  • To update on the latest techniques and improvements in financial statement auditing
  • To recognize the importance of simple internal controls in a sound control environment
  • To identify best practices in auditing
  • To recall the important steps in performing a financial statement audit
  • To develop strategies for dealing with the audit committee

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Auditors
  • Bookkeepers & Accountants & Tax Preparers
  • Certified Public Accountant (CPA)
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Entrepreneurial CPA
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 2 CRE Credit for Certified Financial Examiner (CFE)
  • 2 CPE Credit of Accounting & Auditing for Certified Internal Auditors (CIA)
  • 2 CPE Credit of Accounting & Auditing for Certified Internal Auditors (CIA)
  • 2 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
  • 2 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
  • 2 CPD Credit for Chartered Professional Accountant (CPA Canada)
  • 2 CPE Credit for Internal Audit Practitioner (IAP)
  • 2 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
  • 2 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 2 CE Credit for Certified Wealth Strategist (CWS)
  • 2 General Credit for Accountant/Bookeeper

Additional details

  • Course Level :
    Basic
  • Credits :
    2
  • Instructional Method :
    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 through its website: www.NASBARegistry.org.

Presenter

About Presenter

Michel Morley

Founder, Mike Morley

Mike Morley is a Certified Public Accountant and a recognized authority in the field of finance with more than 25 years experience in finance, including SOX and IFRS implementation.

An entertaining and informative speaker and trainer, Mike is the author of:

“IFRS Simplified” which provides a jump start for accountants and finance executives who want to quickly and easily get up to date on IFRS.

 “Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.

“Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
  • Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4.3

23 Ratings

Excellent

8

Very Good

14

Average

1

Poor

0

Terrible

0

JK

Jason Kelly, CPA (US)

Apr 5th, 2022

Basic foundational education on what is an audit. Perhaps a little too basis for what I hoped it would be.

JW

John Wirtz, CIA

Oct 4th, 2021

More examples of testing approaches would have been beneficial.

PO

Padric O'brien

Dec 8th, 2020

A good overall experience.

DZ

Douglas Ziegler, Accountant, CPA (US)

Dec 8th, 2020

Covered the material

KJ

Kevin Jensen, CPA (US)

Dec 3rd, 2021

Good presenter

Financial Statement Audit Best Practices

PREMIUM

2 Credits

Subject Area

Auditing

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