Auditing Bits in Bytes™ Session 5: Substantive Testing

Description

This 2-hour session 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.

Develop a game plan for successful audits, learn more about MACPA’s Auditing Bits in Bytes™.

Learning Objectives
  1. Identify steps to design and perform substantive audit procedures comprising the detailed audit plan
  2. Identify common deficiencies in performing and documenting further audit procedures, including both tests of details and substantive analytic procedures
  3. Recognize how to comply with specific requirements for extended tests of details performed to address higher risk of material misstatement, including external confirmation and sampling
Major Topics
  1. Nature, Timing & Extent of Substantive Testing – How to gather sufficient and appropriate audit evidence to support the audit opinion
  2. Substantive Analytic Review – Typical deficiencies in designing, documenting and leveraging audit evidence gathered through these further audit procedures
  3. Confirmations – Mistakes made in designing and evaluating the results of third-party confirmations as a form of persuasive audit evidence
  4. Sampling Considerations – Common misunderstandings related to designing, performing and concluding on tests of details
  5. 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
Course Level
Basic
Professional Area of Focus
Accounting & Auditing
CPE Field of Study
Auditing
2.0
Who Should Attend
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.
Instructor(s)
Jennifer Louis
Prerequisites
None
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When
Available 24/7
Location
Online
Total CPE Credits
2.0
Format
On-Demand
Instructor
Jennifer Louis

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Auditing Bits in Bytes™ Session 5: Substantive Testing


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