Kaplan University School of Professional and Continuing Education Kaplan University School of Professional and Continuing Education

FAQ – Audit Issues (FAQAI4)

4-Hour Program

WHY ATTEND THIS COURSE?

Using the popular “Frequently Asked Questions” format, this session will take a deeper dive into issues where auditors continue to have questions. It will deal with risk assessment implementation issues, efficiency issues for smaller clients, sampling, and more.

DESIGNED FOR...

All practitioners in public practice.

OBJECTIVE

Participants will be able to efficiently apply auditing literature to a variety of troublesome issues.

MAJOR SUBJECTS

  • Audit risk
  • Documenting consideration of presumed risks of fraud
  • Inherent risk and its role in combined risk
  • Monitoring
  • Key controls
  • Process versus controls
  • When testing controls makes sense and when it doesn’t
  • Difference between the assessment of risk and the identification of significant risks
  • Linkage
  • Report on internal control (significant deficiencies and material weaknesses)
  • Communications with those charged with governance (in planning and at the end of the audit)
  • Using a service organization auditor’s report
  • AICPA’s SAS No. 132 on the auditor’s consideration of an entity’s ability to remain a going concern

COURSE ACRONYM: FAQAI4

PRESENTATION METHOD: Group-live

LEVEL OF KNOWLEDGE: Basic

PREREQUISITES:

  • None

ADVANCE PREPARATION: None

FIELD OF STUDY: Auditing

RECOMMENDED CPE CREDIT: 4 hours


Qualifies for the 24-hour Yellow Book requirement if an auditor has FASB Yellow Book clients. Determination as to the qualification of certain courses for the Yellow Book 24-hour requirement should be made on an auditor-specific basis depending on that auditor’s Yellow Book clients. Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm. The 24 hours are a subset of the 80-hour requirement.


CPE Sponsor icon

SmartPros®, A Kaplan Company and Loscalzo Institute, A Kaplan Company are registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.