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| Author : | Leita Hart-Fanta, CPA |
| Status : | Production |
| CPE Credits : | 3.5 |
| IRS Credits : | 0 |
| Price : | $50.00 |
| Passing Score : | 70% |
| Course Type: | NASBA QAS - Text - Technical - NASBA Registry |
| Primary Subject-Field Of Study: | Auditing (Governmental) - Auditing (Governmental) for Course Id 1682 |
| Description : |
As an auditor, you need to know how to assess risk and choose relevant evidence but also how to justify your choices! The AICPA has promulgated a significant amount of guidance and terminology regarding evidence- even going as far as to lay out a quasi-mathematical audit risk formula (ever heard of AR=DR x CR x IR?) - all in an effort to help auditors document their decisions and assess strength of their evidence.
Professor Jim Crockett explains the terms and concepts surrounding the AICPA’s evidence standards and audit risk formula to you in this short text. He begins by outlining a general theory of evidence and how evidence is used by various disciplines. Next Professor Crockett explains audit procedures appropriate for securing evidence and the weights that should be assigned to the various types of evidence. This base of knowledge allows the Professor to explain the evidence terminology and formulas promulgated by the AICPA.
This course is designed to give auditors an in-depth understanding of how auditee assertions, audit objectives, audit risks, internal controls, and the attributes of different forms of evidence affect an auditor’s decisions about how to secure and evaluate audit evidence.
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| Usage Rank : | 0 |
| Release : | 2020 |
| Version : | 1.0 |
| Prerequisites : | None. |
| Experience Level : | Overview |
| Additional Contents : | Complete, no additional material needed. |
| Additional Links : |
The audit risk model: your first step in risk assessment
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| Advance Preparation : | None. |
| Delivery Method : | Self-Study |
| Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
| Revision Date : | 17-Aug-2020 |
| 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 - Text - Technical - NASBA Registry - 1682 |
| Keywords : | Auditing (Governmental), Audit, Risk, Formula, Yellow, Book, Series, cpe, cpa, online course |
| Learning Objectives : |
Course Learning Objectives
Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 |
| Course Contents : | Chapter 1 - Evidence, Definitions, Theory, and Audit Standards Definitions Audit Evidence and Evidence Used by Other Disciplines Wisdom from The Philosophy of Auditing International Standards on Auditing (ISA) American Institute of Certified Public Accountants (AICPA) Attest Standards The Public Company Accounting Oversight Board (PCAOB) Requirements International Standards for the Professional Practice of Internal Auditing Generally Accepted Government Audit Standards (GAGAS) Study Questions for Chapter 1 Chapter 2 - Evidence, Audit Risk, and Internal Controls Audit Risk Audit Planning Internal Control and Evidence Study Questions for Chapter 2 Chapter 3 - Evidence Types and Audit Tests (Procedures) Physical Evidence Arithmetical Evidence Analytical Evidence Testimony Evidence Documentary Evidence Confusion About Audit Evidence and Audit Procedures More on Audit Procedures and Techniques A Lesson Learned the Hard Way Study Questions for Chapter 3 Chapter 4 - Evidence Model Audit Programs Linkages – Audit Objectives, Audit Risk, Audit Procedures The Audit Risk Model GAGAS and Audit Risk Possible Risk Combinations Unacceptable Combinations of Risk Combinations That Could or Would Yield Acceptable Risk Study Questions for Chapter 4 Chapter 5 - Evidence - Sufficient and Appropriate Assertions and Auditing Audit Objectives and Assertions Making the All-Important Decision on Sufficiency and Appropriateness Securing Sufficient Appropriate Audit Evidence by Performing Audit Tests Sampling Study Questions for Chapter 5 Chapter 6 - Evidence - Fraud, Documentation, and Review Evidence Fraud – Red Flags The Fraud Triangle Why Are Red Flags Important? Ignore a Red Flag? Just an Error? What Types of Red Flags Are Common Today? General Red Flags Red Flags and Employees Management Red Flags Behavioral Red Flags Red Flags and Payroll Red Flag Example Red Flags and Purchasing and Inventory Lifestyles of Fraudsters Documentation and Audit Evidence from the GAGAS Workpaper Humor – Not Everyone Is Allowed Access Review Evidence Study Questions for Chapter 6 Glossary |
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