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Substantive Analytic Procedures – Strengthening Evidence To Satisfy Audit Objectives

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

Published: August, 2021

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  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Analytical Procedures Defined
    2 mins
  • Tests of Details May Be Preferred
    14 mins
  • Case Study - Differentiating Audit and Review Procedures
    22 mins
  • Make Informed Expectations
    41 mins
  • Improving Documentation of Substantive Analytics
    64 mins
  • Establishing the Acceptance Threshold
    91 mins

Course Description

One of the ways to perform a more effective and efficient audit is to maximize the use of substantive analytic procedures in the detailed audit plan. The analytic procedure covers the evaluations of financial information through analysis of plausible relationships among both financial and non-financial data. To ensure the internal control of the organization analytic procedures can provide substantial support. Such investigation, as necessary, of identified fluctuations or relationships that are inconsistent with other relevant information or that, differ from expected values by a significant amount. 

This Online CPE webinar discusses key questions about using an analytic procedure to ensure better audit results and strong internal control procedures to avoid material misstatements. It explores the area of how you can strengthen your analytic evidence to satisfy your audit objectives and enhance the quality of the audit. The speaker goes into detail on the subject and identifies key elements to have a strong analytic procedure that can either eliminate or mitigate the need for more extensive tests to have details. However, without key documentation, this would not be realized. The speaker Jennifer Louis delves into improving documentation of design, evaluation, and results of an audit from analytics. The webinar covers two key topics of exploring key factors that you must include while describing your expectations from audit and recognizing the sources of assumptions that you are making as you are comparing actual to formal for reaching conclusions. 

This Online CPE webinar covers the following Major Topics: 

  • How analytic procedures enhance audit quality
  • Elements of strong analytic procedures
  • Selecting the proper analytic, and altering the strength for the intended purpose
  • Disaggregating data to make more informed expectations
  • Evaluating the data used in generating expectations, including corroborating inquiry
  • Improving documentation, including evaluating sufficiency and appropriateness of the audit evidence obtained
  • Resolving significant differences resulting from analytic procedures and concluding on audit results

This Online CPE webinar will provide the tips and best practice techniques for strengthening substantive analytic procedures in order to reduce over-reliance on tests of details.

Click to access more webinars on Accounting & Auditing | Full day CPE webinars | Free CPE webinars 

Learning Objectives

  • To discover and learn how analytic procedures can enhance audit quality.
  • To explore and explain elements of strong analytic procedures that can eliminate or mitigate the need for extensive tests of details.
  • To identify and describe tips for improving documentation of the design, documentation, and evaluation of substantive analytic procedures.
  • To discover and discuss factors impacting the development of expectations and evaluation of results of substantive analytic procedures.

Recommended For

  • Accountants who are responsible for strengthening analytic procedures for a more effective and efficient audit.
  • This Online Continuing Professional Education Webinar is recommended for CPAs, CMA, CFE, CIA, CRMA, and Other professionals who desire to use better analytic procedures to have an effective audit. 

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Certified Public Accountant (CPA)
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial CPA
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 2.5 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
  • 2.5 CPE Credit for Certified Management Accountants (CMA)
  • 2.5 CPE Credit for Certified Internal Auditors (CIA)
  • 2.5 CPE Credit for Certified Fraud Examiner (CFE)
  • 2.5 CPE Credit for Certification in Risk Management Assurance (CRMA)
  • 2.5 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 2.5 CE Credit for Certified Wealth Strategist (CWS)
  • 2.5 General Credit for Accountant/Bookkeeper/Tax Professionals
  • 2.5 CPD Credit of Auditing for Certified Financial Forensics (CFF)
  • 2.5 CPE Credit for Certified Government Auditing Professional (CGAP)
  • 2.5 CPE Credit for Certified Government Financial Manager (CGFM)
  • 2.5 CPE Credit of Auditing for Certified Valuation Analyst (CVA)
  • 2.5 CPE Credit for Internal Audit Practitioner (IAP)
  • 2.5 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
  • 2.5 CPE Credit of Auditing for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)

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

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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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Ratings and Review

4

9 Ratings

Excellent

3

Very Good

4

Average

1

Poor

1

Terrible

0

JC

Janet Cox, Accountant

Jan 5th, 2022

There was an issue with the audio that was very distracting.

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