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Audit Reporting Advanced Concepts – Understanding the Impact of General Audit Procedures on Disclosures and Audit Report Modifications

  • Accountant
  • CRMA
  • CPA/CFF
  • CFE
  • CGAP
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • IAP
  • QIAL
  • CBA/MCBA
  • CFIRS
  • CWS

Published: August, 2022

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Auditor reporting objective
    3 mins
  • Management-Imposed Limitations
    14 mins
  • Audit report implications - Substantial going concern doubt
    31 mins
  • Communication with entity's legal counsel
    47 mins
  • Omitted procedure after report release
    70 mins
  • Written management representations
    88 mins

Course Description

Auditors are required to express an opinion on the financial statements as a whole. This includes the notes to the financial statements which are an integral part of the accounts, providing additional information on balances and transactions. Therefore, it is important that during all stages of the audit the auditor considers, and plans to obtain sufficient and appropriate audit evidence concerning the disclosures made in the notes to the financial statements.

The financial statements include related notes which comprise a summary of the significant accounting policies and other explanatory information. The notes to financial statements contain different types of information, some quantitative and some qualitative, as required by IFRS.

Each set of financial statements and auditor’s report thereon must properly address the unique circumstances of the specific reporting entity’s circumstances.

This online CPE webinar by Jennifer Louis guides properly altering financial statements and audit reports for certain complex transactions and events that are often uncovered through general audit procedures, such as subsequent testing, reviewing minutes, and more.

Following are the major topics covered in this CPE Auditing webinar:

  • Overview of Audit Reporting Requirements
  • Common reasons for modifying audit opinions
  • Emphasis-of-matter or other-matter explanatory paragraphs
  • General audit procedures to identify relevant transactions and events impacting financial statement presentation and disclosure
  • Drafting relevant general footnotes, such as related party transactions, subsequent events, loss contingencies, and more
  • Improving the footnote drafting process

Join this CPE/CPD course to understand Advanced Concepts of Audit Reporting.

Here is the link to your interests: Accounting & Auditing CPE Courses | CPE Courses for Certified Internal Auditors

Learning Objectives

  • To explain circumstances requiring audit report modifications and explanatory paragraphs.
  • To identify the importance of applying general audit procedures to identify relevant footnote disclosures.
  • To discover and discuss how to improve evaluating disclosures for completeness and understandability.

Recommended For

  • This Online CE/CPE Webinar is recommended for CPA, CIA, IAP, QIAL, CMA, CFF, CFE, CVA, CGFM, CBA/ MCBA, CRMA, CGAP, CFIRS, CWS, Internal Auditors, External Auditors, Accountants, CFOs, and Other who want are responsible for drafting footnote disclosures and audit reports.
  • This CPD course is also helpful for Canadian CPAs, CA - ICAEW, ACCA, CA - Ireland, CA - Scotland, and CPA – Ireland.

Who Should Attend?

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

Course Qualification

Webinar Qualifies For

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

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

FAQs content

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