Audit Staff Essentials - Experienced In Charge or Senior: Overview of Financial Reporting

Focus on financial reporting

A thorough understanding of audit objectives and assertions relating to financial reporting is increasingly important as you gain experience as an auditor.

You can review the overall objectives for auditors and essential information relating to the presentation and disclosure assertions.

Risk assessment and financial statements

You can also enhance your understanding of topics, including:

• Performing risk assessment
• Common processes, controls, and audit procedures over an entity's financial reporting process
• Essential components of financial statements prepared under generally accepted accounting principles (GAAP).

Finally, you can examine special purpose frameworks and their effects.

Who Will Benefit

In-charge and experienced audit staff with more than two to three years of audit experience

Key Topics

• Audit objectives and related assertions
• Risk assessment and common identified risks
• Common processes, controls, and audit procedures over an entity’s financial reporting process
• Components of financial statement preparation
• Special purpose frameworks

Learning Outcomes

• Identify the audit objectives and related assertions surrounding an entity’s financial reporting process.
• Identify basic processes, controls, and audit procedures over an entity’s financial reporting process.
• Identify the required components of financial statements prepared under GAAP.