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

Learning Objectives

• 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 Description

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.

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Overview

• Overall Objective of Reporting

  2 mins
• Comprehensive Income

  14 mins
• Cash Basis Accounting Method

  28 mins
• Types of Audit Opinions

  43 mins
• Case Study - Background

  60 mins
• Change in Equity

  93 mins