Adding Assurance to the Financial Statements

What you will learn

History and Purpose of Auditing

How Auditing Related to Financial Accounting

Generally Accepted Auditing Standards (GAAS)

Planning and Supervision

Risk Assessment and Scoping

Audit Risk Model

Fraud Risk Model (Triangle and Diamond)

Internal Control

Impact of Sarbanes Oxley Act of 2001

Audit Evidence

Audit Sampling

Managerial Representations/Assertions

Financial Audit Opinions and Reports

Description

Auditing is the next progression in the accounting curriculum. Auditors add value to the information prepared by the financial accountants because their work makes it more reliable and trustworthy. Whether you are going into the field of auditing or are just an investor wanting to know more about the auditors report you are reading and what goes into it, this course will help.

We learn about the core financial statements themselves, the types of evidence that an auditor will gather during their review, the standards they must follow, how they document their work, and how they ultimately communicate the results.

This course is for anyone who may have felt lost in prior auditing courses and wants real life examples and a down to earth explanation, rather than something read word-for-word out of a textbook. Is this you? Then you are in the right place!


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This course is taught by an instructor with over fifteen years of training experience, including corporate training, face to face instruction, and online course development. In addition to the lectures and study material common to many other courses, this course also has a downloadable textbook/study note file, along with downloadable Excel templates paired with a lecture walking through the solution once you are done. To test your knowledge of the basic concepts we also have quizzes after each section to make sure you feel comfortable with the topic before moving on to the next one.

At the end of this course, you will have a better understanding of the standards and processes of auditing. You will be able to pass that class!! Let’s get started!

English
language

Content

Introduction

Introduction

Overview of the Audit Profession and Standards

Study Notes – Need for Audit and Assurance Services
Study Notes – Types of Audit and Assurance Services
Quiz – Audit and Assurance Services
Study Notes – The Securities and Exchange Commission (SEC)
Study Notes – The American Institute of Certified Public Accountants (AICPA)
Study Notes – The Sarbanes-Oxley Act
Study Notes – The Public Company Accounting Oversight Board (PCAOB)
Study Notes – Certified Public Accounting Firms and CPAs
Quiz – Entities That Impact Audit Profession
Study Notes – Auditing Standards (GAAS vs. SAS)
Quiz – Auditing Standards

Auditor and Management Responsibilities

Study Notes – Auditor vs. Management Responsibilities
Quiz – Responsibilities in Audit
Study Notes – Management Assertions Part 1
Study Notes – Management Assertions Part 2
Video – Management Assertions
Quiz – Management Assertions

Ethics and Legal Liabilities

Study Notes – Ethics Overview
Study Notes – Independence

Audit Planning and Risk Assessment

Study Notes – Audit Risk Model
Video – Materiality and Audit Risk Model

Evidence and Sampling

Video – Qualitative Characteristics of Evidence
Study Notes – Overview of Sampling Theory
Study Notes – Methodology, Design, and Stratification
Quiz – Sampling

Fraud and Internal Controls

Study Notes – Fraud Risk (Triangles and Diamonds)

Auditor Opinions and Communications

Study Notes – Standard Unqualified Audit Report
Video – Audit Opinions

Course Wrapup

Wrapup – Intro to Auditing Part 2
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