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Financial Statement Auditing Principles

  • Accountant
  • CRMA
  • CFE
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • CA - ICAEW
  • ACCA
  • CBA/MCBA
  • CA - Ireland
  • CA - Scotland
  • CPA - Ireland
  • CFIRS
  • CWS

Published: July, 2021

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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

  • 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

click to access more webinars on Accounting & Auditing | QuickBooks Online for Accounting Professionals | Free CPE Webinars 

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 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 for Certified Valuation Analyst (CVA)
  • 4 CPE Credit for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 4 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 4 CE Credit for Certified Wealth Strategist (CWS)
  • 4 General Credit for Accountant/Bookeeper
  • 4 CPD Credit for CA - ICAEW
  • 4 CPD Credit for Chartered Certified Accountants (ACCA)
  • 4 CPD Credit for Chartered Accountants - Ireland (CAI)
  • 4 CPD Credit for Chartered Accountants - Scotland
  • 4 CPD Credit for CPA - Ireland

Additional details

  • Course Level :
    Basic
  • Credits :
    4
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

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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

Blair Cook, CPA (US), CA - ICAEW, 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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Ratings and Review

4

4 Ratings

Excellent

1

Very Good

2

Average

1

Poor

0

Terrible

0

RL

Rebecca Lee, CPA (US)

Dec 31st, 2021

None

CM

Conner Mitchell, CPA (US)

Dec 31st, 2021

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