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Auditing Bits in Bytes Session 6: Engagement Wrap-Up (17W624-13)

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 6 of this eight-part series focuses on all activities that occur during the wrap-up phase of the engagement
  2. 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
Major Topics
  1. Audit Documentation - Using the workpaper review process to ensure sufficient compliance with auditing standards
  2. 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.)
  3. General Procedures Considerations
  4. Going Concern o Subsequent Events
  5. Attorney's Letters
  6. Management Representation Letter
  7. Yellow Book & Single Audit Considerations - How these standards influence general audit procedures and issuing audit reports
Course Level
Basic
CPE Field of Study
Auditing
2
Location
Online
Event Information
When
Jun 18, 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 6: Engagement Wrap-Up (17W624-13)


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