Financial Statement Auditing Principles

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Course Description
Course Qualification
Presenter
Faq

Course Description

Overview

Four Components of an Audit

3 mins
General Standard - Independence

18 mins
Independence in Fact

31 mins
Concept of Management Assertions

46 mins
Auditors form an opinion on financial statements

57 mins
What is Audit Evidence?

72 mins
Audit risk

88 mins
Materiality in the context of Audit

102 mins
Matters impacting the client risk profile

115 mins
Segregation of duties

137 mins
Reporting fraud

161 mins
Auditor communications to the Audit Committee

220 mins

Course Description

Many organizations are audited by independent public accountants. The purpose of an audit is to express an opinion on the fairness of presentation of financial information prepared by management. During a financial audit, a CPA confirms that the financial statements do not contain material errors. In case there are substantial errors, the CPA recommends corrective measures that comply with the Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS).

On the reliability of such a view, many stakeholders 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.

An audit enhances the value of financial information by making it more trustworthy and credible. Realizing the importance of audit, regulators, and many legislative bodies apply strict controls on audit procedures.

In this online CPE course, we are going to learn how public accountants plan and execute an audit by complying with all the regulations of the audit regulators.

Major topics covered in this Audit online CPE webinar:

Definition of audit and its importance
Audit process walk-through
An overview of the financial statement audit
Auditing principles
Internal controls and fraud controls
Demystifying management assertions
Weighing audit evidence
Audit risk model
Auditing cycles and audit completion
Independent auditor’s report

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Learning Objectives

To discover the purpose and nature of a financial statement audit
To identify the players in the auditing industry
To recognize ethical considerations in auditing
To identify different forms of auditor’s reports
To discover the three phases of the audit process: planning, execution, and completion
To Identify management assertions
To discover the various forms of audit evidence
To identify different types of manual and electronic internal controls
To identify different types of fraud risks and controls
To discover approaches for assessing control risk
To discover testing approaches for internal controls
To identify approaches to auditing for fraud
To describe substantive audit procedures

Recommended For

This online CPE webinar is recommended for CPAs, CIAs, CRMAs, Internal as well as External Auditors involved in financial statement auditing or are seeking to learn about financial statement auditing

Who Should Attend?

Accountant
Accounting Firm
Accounting Managers
CPA (Industry)
CPA - Mid Size Firm
CPA - Small Firm
CPA in Business
Entrepreneurial CPA
Finance Pros
Senior Accountant
Staff of Accounting Firm
VP Finance
Young CPA

Course Qualification

Webinar Qualifies For

4 CPE Credit for Certified Management Accountants (CMA)
4 CPE Credit of Accounting & Auditing for Certified Internal Auditors (CIA)
4 CPE Credit of Accounting & Auditing for Certified Internal Auditors (CIA)
4 CPE Credit for Certified Fraud Examiner (CFE)
4 CPE Credit for Certification in Risk Management Assurance (CRMA)
4 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
4 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
4 CPE Credit for Certified Valuation Analyst (CVA)

Presenter

About Presenter

Blair Cook, CPA (US), CA-UK, MBA

Partner Executive Finance Partner Inc.

Blair is a many-time and active financial executive, corporate director, author, speaker, and thought leader. His educational videos of accounting and finance have million of views on YouTube. He has keynoted and spoken at national conferences from New York to Toronto. Along with Jen, he co-hosts CPA Canada’s podcast series “CPA Success Podcast.” He works with real businesses experimenting with theories and best practices to share his experiences and stories with others of what works, what doesn’t, and what was learned. He is the author of The Illiterate Executive: An Executive’s Handbook for Mastering Financial Acumen.

About Company

Executive Finance Partner Inc.

www.executivefinance.ca/

Executive Finance Partners is a globally focused professional development, strategic consulting, and thought leadership firm. We are a group of passionate financial executives and professional corporate directors focused on development of aspiring finance executives.

Faq

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Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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