In arriving at and providing an opinion on the financial statements, auditors follow approximately 1,000 pages of generally accepted auditing standards (GAAS)! It takes a great deal of effort and energy to keep up with the current requirements. Designed for everyone in the firm, this course will replenish your tank with an understanding of GAAS needed to fuel high-performance audits under today’s standards. The course materials utilize a highly illustrative and innovative format. Over 30 focused exercises are included to provide
an enhanced working knowledge of today’s GAAS.
DESIGNED FOR
All auditors.
BENEFITS
- Save time on audit engagements by understanding where the auditor’s responsibilities start and stop under today’s requirements
- Proficiently perform audits through an increased knowledge of how the various sections of GAAS interrelate to each other
- Skillfully apply the requirements used by auditors on a daily basis
HIGHLIGHTS
- How today's GAAS is organized into seven facets of an audit (i.e., general principles and responsibilities, risk assessment and response to assessed risks; audit evidence; using the work of others; audit conclusions and reporting, special considerations; and special considerations in the United States)
- Key terminology used in today's audit process
- Important considerations, determinations and requirements that pertain to each of the seven facets of an audit
- How the theory in today’s GAAS translates to the real world
- Answers to frequent questions that arise in the application of GAAS
- Changes coming to the audit process due to SAS No. 134, Auditor Reporting and
- Amendments, Including Amendments Addressing Disclosures in the Audit of Financial Statements, and SAS No. 135, Omnibus Statement on Accounting Standards--2019
PREREQUISITES
Basic audit knowledge.
ADVANCE PREPARATION
None
ADDITIONAL NOTES
- Qualifies for Yellow Book.
Course materials are distributed electronically.To access the materials visit My Events. Download to your laptop or tablet prior to the seminar, handouts are added as received.