Limited Period Access to myCPE Prime Unlimited CPE Access starting at $199. Subscribe Now

Special Audit Considerations – Comprehending Requirements of Group Audits, Compliance Audits, Using the Work of a Specialist or Others, and More!

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

Published: August, 2022

You need to register for the webinar to watch the video.

Click Here to Register

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

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Initial Audit requirements
    4 mins
  • Predecessor's required procedures if reissuing auditor's report
    18 mins
  • Preliminary communications with component auditor
    35 mins
  • International auditing standards - Group Audit reporting
    49 mins
  • Auditor's responsibilities
    69 mins
  • Elements for By-Product compliance report
    90 mins

Course Description

Sometimes financial statement audits are performed under special circumstances, such as opening a group’s set of financial statements, extending responsibilities to opining on compliance, performing an initial audit, using the work of a valuation expert or internal audit, and more.

  • A group audit involves the audit of group financial statements which are financial statements that include the financial information for more than one component. A component is an entity or business activity for which financial information is separately prepared, and which is included in the group financial statements. 
  • A compliance audit is a comprehensive review of an organization's adherence to regulatory guidelines. Audit reports evaluate the strength and thoroughness of compliance preparations, security policies, user access controls, and risk management procedures throughout a compliance audit.
  • Initial audits are audits that are conducted for the first time by the audit firm (i.e. the financial statements were not audited or were audited in the prior period by a predecessor auditor).
  • The use of the work of specialists continues to increase in both frequency and significance. If a specialist's work is not properly overseen or evaluated by the auditor, there may be a heightened risk that the auditor's work will not be sufficient to detect a material misstatement in accounting estimates.

This CPE course will address key considerations in these Special Audit Conditions and More!

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

Learning Objectives

  • To discuss the special considerations when performing special audits, such as group or initial audits.
  • To explore and explain factors that influence the auditor's ability to use the work of specialists or others as evidence.
  • To list common variations to the traditional financial statement audit engagement
  • To analyze how to conduct an effective group Financial statement audit.
  • To discuss the additional responsibilities-assuming responsibility for component work.

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 Professionals who want to understand key considerations in special audit conditions.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Auditors
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Forensic Auditor
  • Fraud & Forensic Auditor
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 2.5 General Credit of Auditing for Accountant/Bookkeeper/Tax Professionals
  • 2.5 CPE Credit of Auditing for Certification in Risk Management Assurance (CRMA)
  • 2.5 CPD Credit of Auditing for Certified Financial Forensics (CFF)
  • 2.5 CPE Credit of Auditing for Certified Fraud Examiner (CFE)
  • 2.5 CPE Credit of Auditing for Certified Government Auditing Professional (CGAP)
  • 2.5 CPE Credit of Auditing for Certified Government Financial Manager (CGFM)
  • 2.5 CPE Credit of Internal Auditing for Certified Internal Auditors (CIA)
  • 2.5 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
  • 2.5 CPE Credit of Auditing for Certified Valuation Analyst (CVA)
  • 2.5 CPE Credit of Auditing for Internal Audit Practitioner (IAP)
  • 2.5 CPE Credit of Auditing 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)
  • 2.5 CPE Credit of Auditing for Certified Management Accountants (CMA)

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

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
  • Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • 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.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • 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.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4.3

3 Ratings

Excellent

2

Very Good

0

Average

1

Poor

0

Terrible

0

We use cookies to make your experience on this website better