Applying Professional Skepticism in an Audit
This interactive webcast uses case studies to provide an overview of professional skepticism, including what it is and why it is important in audit engagements.
Format
Webcast
NASBA Field of Study
Auditing
Level
Basic
CPE Credits
4
Instructor
Jennifer H. Elder
Availability
3 months
Product Number
VPSKEP21020
Enhance your use of professional skepticism.
Audit inspection reports have identified issues about the level and consistency of professional skepticism being applied in audits. Additionally, the complexity of transactions and markets continues to increase, requiring auditors and managers to use more professional judgment during audit engagements.
This interactive webcast will provide an overview of professional skepticism, including what it is and why it is important in audit engagements. Featuring case studies to teach the content and concepts, this webcast will help participants gain knowledge about how to apply professional skepticism and techniques to enhance the use of professional skepticism in their own practice.
- Professional skepticism
- Professional judgment
- Judgement framework
- Fraud triangle
- Analyze the relationship of the Single Audit Act and the OMB Uniform Guidance.
- Identify the types of guidance and requirements found in the Uniform Guidance
- Identify fundamental auditee and auditor responsibilities related to a compliance audit of federal awards.
- Determine major federal programs.
- Determine the requirements of the single audit as it relates to understanding internal control, assessing the level of control risk, and testing the effectiveness of internal control relative to federal awards. - Identify the single audit requirements for testing the direct and material compliance requirements for major programs.
- Determine reporting requirements.
- Identify the audit and reporting requirements for program-specific audits.
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