Description
This session emphasizes the key activities that ensure that appropriate quality control procedures were performed on the financial statement audit.
Designed For
- Anyone who is new to auditing or desires a refresher in how to perform effective and efficient financial statement audits for non-issuers in accordance with professional and regulatory standards.
Objectives
- Identify how to leverage the audit documentation and review process to ensure a quality and profitable engagement
- Describe key activities that ensure appropriate quality control procedures were performed on the financial statement audit
- Recognize common peer review deficiencies that quality control policies and procedures should seek to avoid
Highlights
- Audit Documentation & Review - Using the workpaper documentation and review process to ensure sufficient compliance professional, technical, ethical and regulatory standards
- Statement of Quality Control Standards - An overview of the AICPA standard that clarifies and enhances quality control requirements for CPA Firms performing financial statement audits
- Engagement Quality Control Review - When this may be necessary, who can perform most effectively perform this review, what he/she should review, and documentation considerations
- Peer Review - Common deficiencies identified related to financial statement audits, and how CPA firms can strengthen quality control policies and procedures to combat them
- Extensive illustrative examples will be used to reinforce a practical understanding of the most critical principles and standards that support a high-quality, insightful, and profitable engagement