Analytical Procedures – Comprehending Financial Statement Audit Fundamentals

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Course Description
Course Qualification
Presenter
FAQ

Course Description

Overview

Analytical Procedures Definition

2 mins
Case Study - Setting Preliminary Expectations

16 mins
How Accountants Typically React

24 mins
Case Study - Linking Preliminary Analytics to Identified Risk

35 mins
Substantive Analytics Can Improve Audit Efficiency

53 mins
Common Acceptance Threshold

67 mins
Ten Tips for Improved Use of Analytical Procedure

95 mins

Course Description

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

To do this all the financial and nonfinancial 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 significant value. This is what constitutes analytical procedures.

To make sure that the analytical procedures follows its steps, it is essential that the required data has been properly designed, documented, results of 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 pit falls 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.

Major Topics covered are as follows:

Identifying risk of material misstatement through preliminary analytic review procedures
Ensuring sufficient appropriate audit evidence is gathered through 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

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Learning Objectives

To identify and link preliminary analytic review results to assessed risk of material misstatement.
To explore and perform 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.

Recommended For

This Online CPE webinar on Auditing is recommended for CPA, CMA, CFE, CIA, CRMA, and Other Professionals who desire to provide better analytic procedures on audit services.
Accountants responsible for performing basic analytic procedures on audit engagements.

Who Should Attend?

Accountant
Accounting Firm
Accounting Managers
Auditors
CPA (Industry)
CPA - Mid Size Firm
CPA - Small Firm
Senior Accountant
Staff of Accounting Firm
Young CPA

Course Qualification

Webinar Qualifies For

2.5 CPE Credit of Auditing for Certified Management Accountants (CMA)
2.5 CPE Credit of Internal Auditing for Certified Internal Auditors (CIA)
2.5 CPE Credit for Certified Government Financial Manager (CGFM)
2.5 CPE Credit of Auditing for Certified Fraud Examiner (CFE)
2.5 CPE Credit for Certification in Risk Management Assurance (CRMA)
2.5 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
2.5 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
2.5 CE Credit for Certified Wealth Strategist (CWS)
2.5 General Credit for Accountant/Bookeeper
2.5 CPD Credit for CA - ICAEW
2.5 CPD Credit for Chartered Certified Accountants (ACCA)
2.5 CPD Credit for Chartered Accountants - Ireland (CAI)
2.5 CPD Credit for Chartered Accountants - Scotland
2.5 CPD Credit for CPA - Ireland
2.5 CPE Credit for Internal Audit Practitioner (IAP)
2.5 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
2.5 CPD Credit of Auditing for Certified Financial Forensics (CFF)
2.5 CPE Credit for Certified Government Auditing Professional (CGAP)
2.5 CPE Credit of Auditing for Certified Valuation Analyst (CVA)
2.5 CPE Credit of Auditing for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)

Additional details

Course Level :

Basic
Credits :

2.5
Instructional Method :

QAS Self Study
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

Jennifer Louis, CPA (US)

President, Emergent Solutions Group LLC

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.

About Company

Emergent Solutions Group LLC

www.emergentgroup.net

Emergent Solutions Group is highly rated in course design and instruction on a wide array of topics, including accounting, auditing, personal development, project management, practice management, and more. Our Services includes :

1. Developing High-Caliber, Cost-Effective Training Content

2. Revamping or Customizing Existing Training Offerings

3. "On-Call” Instructing and Speaking

4. Training the Trainer

Faq

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