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

Planning Cost Efficient and Effective Audits (PCE4)

4-Hour Program

WHY ATTEND THIS COURSE?

Good realization on an audit must be planned – it doesn’t just happen! While planning often is viewed as merely a compliance requirement, firms that enjoy profitable audits know that planning is the key. This program will illustrate the professional standard requirements of audit planning and documentation. Case studies will illustrate how those requirements can be applied to identify how to utilize the budgeted time more efficiently and effective. Engagements must be planned and managed throughout the process to also be profitable.

DESIGNED FOR...

CPAs in public practice.

OBJECTIVE

Participants will be able to plan an engagement following the risk assessment standards.

MAJOR SUBJECTS

  • Using knowledge of the client and its industry to identify risk areas
  • Entity vs. activity level controls
  • Understanding the difference between the required understanding of the internal control, required walkthroughs and testing controls for reliance
  • Identifying risks at assertion level
  • Applying fraud risk assessment and brainstorming discussion
  • Developing expectations and using analytical procedures
  • Summarizing significant and material risks to be addressed by further audit procedures

COURSE ACRONYM: PCE4

PRESENTATION METHOD: Group-live

LEVEL OF KNOWLEDGE: Basic to Intermediate

PREREQUISITES:

  • None

ADVANCE PREPARATION: None

FIELD OF STUDY: Auditing

RECOMMENDED CPE CREDIT: 4 hours


Qualifies for the 24-hour Yellow Book requirement. 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.