Experienced In-Charge/Senior - Overview of Financial Reporting

Overview

This CPE course can be purchased individually, or as a part of the Audit Staff Essentials - Experienced In-Charge/Senior training bundle.

Gather components

Review the necessary components of financial statements prepared under generally accepted accounting principles (GAAP), including disclosures, preparation systems, adequate segregation of duties, and a review process.

Understand the risk assessment process as it applies to financial statement presentation and disclosure.

Types of controls

Explore the types of controls that you might encounter when the client self-prepares the financial statement or when the financial statements are prepared by the auditor.

Understand the effect of special purpose frameworks when encountered.

Highlights

Key Topics

• Risk assessment
• Components of financial statements
• FRF for SMEsT

Prerequisites

2-3 years of audit experience

Designed For

Who Will Benefit

• Experienced in-charge auditors
• Audit seniors
• Firms that want consistent training and level setting

Objectives

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, and identify weaknesses and possible solutions.
• Identify the required components of financial statements prepared under GAAP.