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Audit 308: Audit Reporting and General Audit Procedures

Friday, April 18
 1:30pm - 3:30pm

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2.00 Credits

Member Price $89.00

Non-Member Price $124.00

Overview

Audit Reporting Advanced Concepts - Understanding the Impact of General Audit Procedures on Disclosures and Audit Report Modifications will provide guidance for properly altering financial statements and audit reports for certain complex transactions and events that are often uncovered through general audit procedures, such as subsequent testing, reviewing minutes, and more. Each set of financial statements and auditor’s report thereon must properly address the unique circumstances of the specific reporting entity’s circumstances. Note: This course is recommended as a part of a 16-hour audit skills curriculum for in-charge or supervisor auditors, while it is also appropriate for anyone who has responsibilities for audit reporting and general audit procedures. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Objectives

After attending this presentation, you will be able to...

  • Identify circumstances requiring audit report modifications and explanatory paragraphs
  • Determine the importance of applying general audit procedures to identify relevant footnote disclosures
  • Distinguish how to improve evaluating disclosures for completeness and understandability

Highlights

The major topics covered in this course include:

  • Common reasons for modifying audit opinions
  • Emphasis-of-matter or other-matter explanatory paragraphs
  • General audit procedures to identify relevant transactions and events impacting financial statement presentation and disclosure
  • Drafting relevant general footnotes, such as related party transactions, subsequent events, loss contingencies, and more
  • Improving the footnote drafting process

Designed For

Accountants responsible for drafting footnote disclosures and audit reports

Prerequisites

Basic audit experience

Preparation

None

Notice

You will receive an email from CPA Crossings via Webex with instructions to access the webinar.

Leader(s):

Leader Bios

Jennifer Louis, Surgent McCoy CPE, LLC

Jennifer F. Louis, CPA has over 19 years of experience in designing and presenting high-quality training programs in a wide variety of technical and “soft skills” topics needed for professional and organizational success. In 2003, she founded Emergent Solutions Group, LLC, a company dedicated to developing and delivering accounting and auditing training services. She was most recently executive vice president/director of training services at AuditWatch, Inc., a highly respected training and consulting firm serving the audit profession. During her six years at AuditWatch, Ms. Louis served in many other capacities, including vice president of product development, and a consultant for the firm’s Audit Productivity Improvement Program TM. She also coauthored a manual on value-added auditing. Before joining AuditWatch, Ms. Louis was the financial/operational audit manager at AARP. While at AARP, she served as one of their specially trained facilitators available as a resource throughout the organization for designing and leading strategic meetings and training sessions. Ms. Louis was also an audit manager for Deloitte and Touche, LLP. During her years in that firm’s Washington, D.C. office, she served as an instructor for the firm’s national “Train the Trainers” program. Ms. Louis graduated summa cum laude from Marymount University with a BBA in accounting.

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Non-Member Price $124.00

Member Price $89.00