Financial Statement Audit Best Practices

4 (6)

Michel Morley

Mike Morley

Friday, May 07, 2021 | 09:30 AM EDT

  • CPA Canada
  • CIA
  • CPA
  • CVA
  • IAP
  • QIAL
  • CFE
  • CMA

2 Credits

$20

Subject Area

Auditing

Webinar Qualifies For

2 CPE credit for Certified Management Accountants (CMA)

2 CPE credit for Certified Internal Auditors (CIA)

2 CPE credit for Certified Fraud Examiners (CFEs)

2 CPE credit of Auditing for all CPAs

2 CPE credit for Internal Audit Practitioner (IAP)

2 CPE credit for Qualification in Internal Audit Leadership (QIAL)

2 CPD credit (Verifiable) for Certified Valuation Analyst (CVA)

2 CPD credit (Verifiable) for Canadian CPAs

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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

Major Topics Covered in CPE Webinar:

  • 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 Fraud Examiner
  • Certified Public Accountant
  • Certified Valuation Analysts
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Entrepreneurial CPA
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA

Testimonial

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    [average] => 4.0000
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JS

The presenter was very calm and composed and covered a lot of my subject doubts. Never thought I would learn so much within such a short span of time. Very impressive. I will return to earn more CPE on myCPE.

MK

Very good

PO

A good overall experience.

DZ

Covered the material