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Auditing Bits in Bytes™ Session 5: Substantive Testing
Start Date (Local)
6/4/2013 9:00:00 AM Eastern (EST/EDT)
6/4/2013 11:00:00 AM Eastern (EST/EDT)
Field of Study
Auditing -- 2 Credits
Auditing Bits in Bytes™ is a series of eight individual sessions that guides professionals through the complete audit process from “A to Z” – starting with Pre-Engagement Planning Activities, and going all the way through Wrap-up and Quality Control.
The auditing profession is undergoing the most significant changes in modern history. Think about it. The Auditing Standards Board issued 14 new Statements on Auditing Standards all effective within two years of each other, the GAO revised Government Auditing Standards (twice!) in 2007, the PCAOB has six additional Auditing Standards related to audits of SEC “issuers” that directly influenced standards established for “non-issuers”, independence rules promulgated by all relevant standard setters have been clarified and enhanced, and Statements on Quality Control Standards for firms performing attestation services have also been revamped and strengthened. Whew! That is a lot! And to think that professionals complained about being confused before all these changes occurred!?! All professionals, both those that are new to performing financial statement audits and those with previous experience, can benefit from focused training that walks participants through the complete audit process from “A to Z”, providing practical tips and best practices for ensuring an effective and efficient
Session 5 of this eight-part series focuses on performing the substantive audit procedures outlined in the detailed audit plan. Common deficiencies in performing and documenting these further audit procedures will be discussed