FASB: Assurance Audit Evidence - Specific Considerations for Selected Items

Learning Objectives

• To review the latest information about obtaining specific considerations by the auditor in obtaining sufficient appropriate audit evidence.
• To explain the overall guidance for obtaining specific considerations by the auditor in obtaining sufficient appropriate audit evidence.
• To know how to apply presentation rules and exceptions.
• To review the recognition, measurement, and presentation constraints.
• To look at disclosure and presentation requirements.
• To know how to write the appropriate Notes.
• To discuss the required note disclosures.

Course Description

Embark on a journey of precision and expertise with our course, "Audit Evidence — Special Considerations for Selected Items," designed to guide auditors through the intricacies of obtaining crucial evidence.

This course sets a standard method for auditors to collect the right evidence. It thoroughly covers the specific details to ensure that the evidence gathered is enough and fitting, with a special focus on selected items. The course guides auditors through the complexities of dealing with (a) investments in securities and derivatives; (b) inventory; (c) legal matters, claims, and evaluations related to the business; (d) segment information in financial statement audits; and (e) the involvement of management’s specialists.

During the CPE Auditing course,  participants will delve into the nuanced considerations required to gather accurate and relevant audit evidence. The course emphasizes providing auditors with a clear and straightforward step-by-step process. This ensures that auditors can navigate the intricacies of each identified aspect, promoting a robust and comprehensive audit process.

Major Topics Covered:

• Basic concepts, scope, and applicability of obtaining specific considerations by the auditor in obtaining sufficient appropriate audit evidence.
• Planning the approach: obtaining specific considerations by the auditor in obtaining sufficient appropriate audit evidence.
• Sizing up the impacts of obtaining specific considerations by the auditor in obtaining sufficient appropriate audit evidence. questions you need to ask.
• Specific rules and unique provisions for obtaining specific considerations by the auditor in obtaining sufficient appropriate audit evidence.
• Disclosure and presentation requirements.
• Notes to financial statements.

Join this course and stay ahead in your auditing career by mastering the intricacies of evidence gathering for selected items.

Overview

• Definition of management's specialist

  7 mins
• Auditing valuation

  16 mins
• Not sufficient appropriate audit evidence

  27 mins
• Planning attendance at physical inventory counting

  35 mins
• Designing inventory audit procedure

  45 mins
• Inquiries of entity's legal counsel

  57 mins