Audit 302: Planning Effective and Efficient Audits
2.00 Credits
Member Price $89
Non-Member Price $109
Overview
Advanced Audit Planning Concepts - Ensuring an Effective and Efficient Audit will focus on how to enhance engagement team brainstorming and discussions to leverage knowledge to create a high-quality and profitable audit approach. The biggest factors that lead to an effective and efficient financial statement audit are the properly identification, evaluation, and response to risk of material misstatement. Assessed risk of material misstatement leads to the generation of the nature, timing and extent of further audit procedures. Note: This course is recommended as a part of a 16-hour audit skills curriculum for in-charge or supervisor auditors, while it is also appropriate for anyone who has responsibilities in designing a risk-based audit plan. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Highlights
The major topics covered in this course include:
- Overview of the audit process
- Linking risk of material misstatement to the detailed audit plan
- Tailoring standard audit programs based on assessed risk
- Engagement team discussion agenda items and best practices
- Evaluating the appropriateness of audit evidence
- Common efficiency considerations by audit area
Prerequisites
Knowledge of the audit risk model
Designed For
Accountants with responsibility for ensuring a high quality and profitable audit engagement.
Objectives
Upon completion of this course, you will be able to...
- Apply engagement planning best practices for a high quality and profitable engagement
- Link assessed risk of material misstatement to the detailed audit plan
- Determine the most appropriate nature, timing and extent of audit procedures for maximum effectiveness and efficiency
Preparation
None
Leader(s):
Leader Bios
Jennifer Louis, Business Learning Institute
Jennifer F. Louis, CPA, has more than 18 years of experience in designing and instructing high-quality training programs. In 2003 she formed Emergent Solutions Group, LLC, serving organizations by providing training services on a project-specific or parttime basis.
Most recently, Ms. Louis was executive vice president / director of trainingServices at AuditWatch, Inc., a premier training and consulting firm serving the audit profession. She began her career at AuditWatch as vice president of product development. Before joining AuditWatch, Ms. Louis was the financial/operational audit manager at AARP.
Ms. Louis also was an audit manager for Deloitte & Touche LLP. During her years at Deloitte & Touche’s Washington D.C. office, she was a frequent local and national instructor. She also served as an
instructor for the firm’s national “Train the Trainers” program.
Non-Member Price $109
Member Price $89