Audit – Financial Statement

Master the Art of Auditing Financial Statements: In-Depth Analysis, Techniques, and Real-World Case Studies

Created by: Robert (Bob) Steele
CPA, CGMA, M.S. Tax, CPI

What Will I Learn?

• Analyze audit engagements to provide assurance on financial statements.
• Apply advanced auditing knowledge to interpret financial accounting concepts effectively.
• Evaluate the structure and functions of public accounting firms in the audit process.
• Coordinate and allocate tasks within an audit team for efficient engagement execution.
• Develop comprehensive audit plans based on client business, risk environment, and scope.
• Assess and manage audit risks through risk assessment and identification techniques.
• Determine materiality and design appropriate audit procedures for reliable financial reporting.
• Evaluate internal controls, identify deficiencies, and perform tests to ensure their effectiveness.
• Apply statistical and non-statistical sampling methods to obtain relevant audit evidence.
• Perform substantive testing to verify the accuracy and completeness of account balances.
• Evaluate revenue recognition and accounts receivable processes in the audit of the revenue cycle.
• Assess procurement, inventory, and accounts payable processes in the audit of the purchasing cycle.
• Evaluate payroll Conduct comprehensive audit procedures for inventory valuation and obsand human resources processes, including compensation and tax compliance.
• Perform audit procedures for prepaid expenses, intangible assets, and property plant and equipment.
• Evaluate audit procedures and considerations for long-term debt, equity, and financial instruments.
• Assess cash-related procedures, including bank reconciliations and fraud detection measures.
• Prepare professional audit reports conveying findings, opinions, and recommendations.
• Demonstrate ethical behavior, independence, objectivity, and confidentiality in auditing engagements.

Requirements

• Basic knowledge of financial accounting principles and concepts.

Target audience

• Accounting professionals seeking to deepen their understanding of financial accounting and auditing
• Auditors looking to enhance their skills and knowledge in auditing financial statements
• Financial analysts interested in gaining insights into financial accounting principles and practices
• Students pursuing a degree or certification in accounting or auditing
• Professionals working in finance or related fields who want to expand their knowledge of financial accounting and auditing