Auditing Bits in Bytes™ Session 6: Engagement Wrap-Up (Included in catalog bundle)
Auditing Bits in Bytes™ - A Practical Break-Down of “Real World” Best Practices Applied in Highly Successful Audits is a series of eight individual sessions that guide professionals through the complete audit process from “A to Z” – starting with Pre-Engagement Planning Activities, and going all the way through Wrap-up and Quality Control.
Attempting to perform an effective and efficient audit can be intimidating and confusing, for new and experienced auditors alike. This series will provide valuable tips and techniques from an experienced auditor that are needed to successfully design and perform financial statement audits in “real-life” circumstances. Extensive illustrative examples will be used to reinforce a practical understanding of the most critical principles and standards that support a high-quality, insightful, and profitable engagement.
This 2-hour session focuses on all activities that occur during the wrap-up phase of the engagement. This aspect of an audit engagement is where all good intentions are at risk of unraveling and creating deficiencies in audit quality and compliance with professional and regulatory standards.
|1. Auditing Bits in Bytes™ Session 6: Engagement Wrap-Up||-|
Upon completion of this course, participants will be able to:
Recognize how lack of audit documentation may unravel all good intentions as it relates to audit quality and profitability
Identify circumstances where modification of the standard audit report would be appropriate
Recall all activities that occur during the engagement wrap-up phase of the engagement, which includes general audit procedures, audit report drafting, and audit report release
Audit Documentation – Key considerations in quality control
Audit Report Dating – How to handle “real-life” issues/concerns encountered by firms (e.g., issuing multiple audit reports with an appropriate audit report date, subsequent events identified after audit report date but prior to report release date, sufficiently fulfilling the document completion date requirements, etc.)
Audit Report Modifications – Appropriate circumstances to add emphasis-of-matter or other-matter paragraphs, or when to modify the opinion
General Procedures Considerations
Management Representation Letter, and more!
Extensive illustrative examples will be used to reinforce a practical understanding of the most critical principles and standards that support a high-quality, insightful, and profitable engagement.
Field of Study: Auditing
Recommended CPE Credit Hours: 2.0
Course Level: Basic
Designed For: Anyone who is new to auditing or desires a refresher in how to perform effective and efficient financial statement audits for non-issuers in accordance with professional and regulatory standards (Generally Accepted Auditing Standards and Yellow Book.
Instructor: Jennifer Louis, CPA
Publication Year: 2017
Expiration Date: Course content is reviewed annually and revised with neccessary changes or else the course is removed.
Jennifer F. Louis, CPA has over 22 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. She currently resides in Vienna, VA.