Audit Planning and Risk Assessment for External Auditors

Objectives:

After completing this course, you will be able to (1) determine whether the requirements for pre-engagement acceptance have been met, (2) recognize the elements of an overall audit strategy and audit plan, (3) obtain an understanding of the entity and assess risks, (4) identify the components of audit risk and materiality and their effects on the application of GAAS in financial statement audits, (5) identify appropriate sources of information to develop expectations for applying analytical procedures, (6) answer technical questions about the auditor's responsibilities for detecting fraud and noncompliance with laws and regulations, and (7) discern sufficient appropriate audit documentation.

Major Topics:

Pre-Engagement Acceptance Activities (AU-C 210 and AS 1010), Planning an Audit (AU-C 300, AS 2101, and AS 1210), Understanding the Entity and Assessing Risks (AU-C 315 and AS 2110), Audit Risk and Materiality (AU-C 200, AU-C 320, AU-C 450, AS 1101, and AS 2105), Analytical Procedures (AU-C 520 and AS 2305), Consideration of Fraud in a Financial Statement Audit (AU-C 240 and AS 2401), Consideration of Laws and Regulations in an Audit (AU-C 250 and AS 2405), Audit Documentation (AU-C 230 and AS 1215)

Prerequisite:

None

Additional Info:

Access the OnDemand Course:

• Login: Please login to the course at http://www.ficpa.org/gleimsso.
• Enter the OnDemand Course: Once logged, in, click on the Online CPE: Transcript button.
• Access the OnDemand Course: Click the Continue button next to the OnDemand title that you are registered for.
  

Customer Support Contact Information:

Phone 
800.874.5346 ext. 212

Email
[email protected]

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