June 5, 2024

Webinar

2 CPE

Webinar (CPA Crossings): Audit 105: The Audit Risk Model - Foundational Principles

June 5, 2024
Webinar
2 CPE

Webinar (CPA Crossings): Audit 105: The Audit Risk Model - Foundational Principles

  • View Bio

    Instructor

    Jennifer
    Louis

    View Bio

    Jennifer Louis, CPA

    Bio

    Jennifer focuses her energy on designing and delivering high-quality and engaging accounting and auditing training. Prior to founding Emergent Solutions Group, LLC, she was Director of Audit Product Development at Surgent Professional Education.

  • The Audit Risk Model
  • Understanding Foundational Principles is a critical foundational course. Financial statement auditors are engaged to provide reasonable assurance that financial statements are not materially misstated, whether due to fraud or error. Professional standards require auditors to obtain sufficient and appropriate evidence to support that opinion. It is critical for effective and efficient auditors to have a clear understanding of all the important elements and concepts related to properly identifying, evaluating, and deciding how to respond to risk in a financial statement audit. Note: This course is recommended as a part of a 16-hour audit skills curriculum for beginning auditors, while it is also appropriate for anyone who has the need to understand the foundational principles of the audit risk model. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Learning Objectives

Upon completion of this course, you will be able to...

  • Identify the basis for an audit
  • Recall the auditor's professional responsibilities
  • Differentiate the responsibilities of reporting entity management and auditors
  • Recognize important audit concepts, such as materiality
  • Recall the foundational principles of the audit risk formula
  • Identify considerations when Identifying and assessing risk of material misstatement

Major Topics

The major topics covered in this course include:

  • The reason that entities engage a financial statement audit
  • The applicable financial reporting frameworks available
  • The various phases of a financial statement audit
  • Evaluating and documenting audit risk, both at the overall and relevant assertion level
  • Case study differentiating high-risk audit engagements and higher-risk audit areas

CPE Credits Available

2 CPE
2
Auditing

Things to Know About This Course

Course Level

  • Basic

Professional Area of Focus

  • Accounting & Auditing

Prerequisites

None

Advanced Preparation

This webinar is produced by CPA Crossings. You will receive your login link/instructions and Certificate of Attendance directly from this third-party vendor. It is important that you review your COCPA confirmation for details on receiving your login instructions and COA from said vendor.

Intended Audience

Professionals requiring knowledge of fundamental audit concepts

Provider

CPA Crossings, LLC

This event has ended.