Audit process overview
You will understand the entire audit process from start to finish after examining topics, including:
- Pre-engagement activities
- Client acceptance
- Procedures and standards that guide the flow of the audit
- Concluding procedures
Steps for a successful audit
You will also learn about the steps related to:
- Planning
- Materiality
- Risk assessment
- Analytical procedures
- Internal control
- Walkthroughs
Who Will Benefit
- Recently onboarded staff
- First-year staff
- Firms that want consistent training and level setting
Topics
- Defining professional responsibilities engagement activities and client acceptance
- Further audit procedures
- Financial statements
- Concluding procedures
Learning Outcomes
- Recall the professional responsibilities for an auditor as prescribed by generally accepted auditing standards (GAAS).
- Identify the individual procedures that collectively represent the pre-engagement activities of an audit.
- Identify additional key concepts and their importance, including assertions, materiality, and risk
assessment.
- Recall the individual procedures that collectively represent the majority of test work performed during an audit.
- Identify common procedures to finalize an audit.