Analytical Procedures - Comprehending Financial Statement Audit Fundamentals will provide the tips and techniques necessary to gather sufficient appropriate audit evidence to support conclusions using analytic procedures common to financial statement audits. Properly designing, documenting and evaluating results of analytic review procedures is critical for performing an effective and efficient audit engagement.
DESIGNED FOR
Accountants responsible for performing basic analytic procedures on audit engagements
BENEFITS
Upon completion of this course, you will be able to...
- Link preliminary analytic review results to assessed risk of material misstatement
- Perform final overall analysis of audit results
- Understand audit standard requirements, including minimum documentation for substantive analytic procedures
- Design typical substantive analytical procedures
- Identify quality control deficiencies in substantive analytic procedures
HIGHLIGHTS
The major topics covered in this course include:
- Identifying risk of material misstatement through preliminary analytic review procedures
- Ensuring sufficient appropriate audit evidence is gathered through final overall analytic review
- Establishing expectations for analytic procedures
- Properly designing, documenting and evaluating the results of substantive analytic review procedures
- Disaggregating substantive analytics for stronger results
- Factors impacting the design of substantive analytic procedures
- Common pitfalls in performing substantive analytic procedures
COURSE LEVEL
Basic
PREREQUISITES
None
ADVANCE PREPARATION
None