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Course Details

Auditing Financing Statements (Video) (Course Id 1106)

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Author : Blair Cook, CPA, CA (Canada), MBA
Status : Production
CPE Credits : 4.0
IRS Credits : 0
Price : $59.95
Passing Score : 70%
NASBA Technical: No
Primary Subject-Field Of Study:

Finance - Finance for Course Id 1106

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. An audit enhances the value of financial information by making it more trustworthy and credible.

In this multi-part course, we are going to learn how public accountants plan and execute an audit. The course is broken into four sections as follows:

    Part I: An overview of the financial statement audit
    Part I: Auditing principles
    Part III: Internal controls and fraud controls
    Part IV: Auditing cycles and audit completion

Usage Rank : 0
Release : 2016
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : Self-Study.
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 15-Aug-2016
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - NASBA Registry - 1106

Keywords : Finance, Auditing, Financing, Statements, Video, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

Upon completion of this course, the learner will be able to:
    • Describe the purpose and nature of a financial statement audit
    • Describe the players in the auditing industry
    • Discuss ethical considerations in auditing
    • Describe different forms of auditor’s reports
    • Describe the three phases of the audit process: planning, execution, and completion
    • Identify management assertions
    • Discuss the various forms of audit evidence
    • Describe the audit risk model
    • Assess inherent risk
    • Calculate financial statement materiality
    • Describe and identify different types of manual and electronic internal controls
    • Describe and identify different types of fraud risks and controls
    • Discuss approaches for assessing control risk
    • Discuss testing approaches for internal controls
    • Describe audit planning and the preparation of audit programs
    • Discuss approaches to auditing for fraud
    • Discuss approaches for auditing the sales cycle
    • Describe substantive audit procedures
    • Conduct audit completion procedures

Part I
An overview of the financial statement audit

    • Describe the purpose and nature of a financial statement audit
    • Describe the players in the auditing industry
    • Discuss ethical considerations in auditing
    • Describe different forms of auditor’s reports

Part II
Auditing principles

    • Describe the three phases of the audit process: planning, execution, and completion
    • Identify management assertions
    • Discuss the various forms of audit evidence
    • Describe the audit risk model
    • Assess inherent risk
    • Calculate financial statement materiality

Part III
Internal controls and fraud controls

    • Describe and identify different types of manual and electronic internal controls
    • Describe and identify different types of fraud risks and controls
    • Discuss approaches for assessing control risk
    • Discuss testing approaches for internal controls

Part IV
Auditing cycles and audit completion

    • Describe audit planning and the preparation of audit programs
    • Discuss approaches to auditing for fraud
    • Discuss approaches for auditing the sales cycle
    • Describe substantive audit procedures
    • Conduct audit completion procedures
Course Contents :

Part I:  An overview of the financial statement audit

Part I Review Questions

Part II: Auditing principles

Part II Review Questions

Part III: Internal controls and fraud controls

Part III Review Questions

Part IV: Auditing cycles and audit completion

Part IV Review Questions

Glossary of Terminology

Finance Course 1106 Home: https://www.cpethink.com/cpe-for-cpas
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