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Auditing Bits in Bytes Session 5: Substantive Testing (17W623-13)

Description

Auditing Bits in Bytes™ is a series of eight individual sessions that
guides 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. The auditing profession is
undergoing the most significant changes in modern history. Think about
it. The Auditing Standards Board issued 14 new Statements on Auditing
Standards all effective within two years of each other, the GAO revised
Government Auditing Standards (twice!) in 2007, the PCAOB has six
additional Auditing Standards related to audits of SEC “issuers” that
directly influenced standards established for “non-issuers,”
independence rules promulgated by all relevant standard setters have
been clarified and enhanced, and Statements on Quality Control Standards
for firms performing attestation services have also been revamped and
strengthened. Whew! That is a lot! And to think that professionals
complained about being confused before all these changes occurred!! All
professionals, both those that are new to performing financial statement
audits and those with previous experience, can benefit from focused
training that walks participants through the complete audit process from
“A to Z”, providing practical tips and best practices for ensuring an
effective and efficient financial statement audit in compliance with
relevant professional and regulatory standards.

Learning Objectives
  1. Session 5 of this eight-part series focuses on performing the substantive audit procedures outlined in the detailed audit plan
  2. Common deficiencies in performing and documenting these further audit procedures will be discussed
Major Topics
  1. Nature, Timing & Extent of Substantive Testing - How to gather sufficient and appropriate audit evidence to support the audit opinion, including specific relevant clarifications and enhancements made in recently issued auditing standards
  2. Sampling Considerations - Common misunderstandings related to designing, performing and concluding on tests of details
  3. Substantive Analytic Review - Typical deficiencies in designing, documenting and leveraging audit evidence gathered through these further audit procedures
  4. Confirmations - Mistakes made in designing and evaluating the results of third-party confirmations as a form of persuasive audit evidence
Course Level
Basic
CPE Field of Study
Auditing
2
Location
Online
Event Information
When
Jun 4, 2013
9:00 am - 11:00 am EST
Location
Online
Total CPE Credits
2
Format
Webcast Replay

Register for this Event

Auditing Bits in Bytes Session 5: Substantive Testing (17W623-13)


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