Internal Control Deficiencies and Other Matters - Adding Value Through Required Auditor Communications ON DEMAND
Available Until
Your Desk
2.0 Credits
Member Price $58.00
Non-Member Price $67.00
Overview
Professional and regulatory audit standards require communication of internal control matters noted in a financial statement audit. This assists management and those charged with governance with satisfying responsibilities for designing, implementing, maintaining, and monitoring internal controls. In addition, in order to retain existing clients, lower fee pressures and gain invaluable referral sources, financial statement auditors must place a priority on being a value-added business advisor. This financial audit CPE course will help the auditor with understanding how to improve required internal control communications to be more value-added from the perspective of the client.
Highlights
The required communication of internal control matters noted on an audit. Evaluating the severity of identified deficiencies, including consideration of qualitative considerations. Importance of placing a priority on being a value-added business advisor. Anticipating and preventing internal control issues related to reliable financial reporting, operational efficiency or compliance. Components of a well-written internal control comment. Better writing tips and techniques.
Prerequisites
None.
Designed For
CPAs.
Objectives
Discuss what, when, and to whom to communicate identified deficiencies in internal control during the financial statement audit. Describe how to categorize the severity of identified deficiencies. Explain how to draft written communications in a way that will increase the likelihood of corrective action. Describe the importance of making value-added business advice to clients a priority. Explain how to anticipate and prevent issues that could negatively impact clients.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Jennifer Louis, Surgent McCoy CPE LLC
Jennifer F. Louis, CPA has over 25 years of experience in designing and presenting high-quality training programs in a wide variety of technical accounting, auditing, and “soft skills” topics needed for professional and organizational success. She is the principal author of audit and attest related courses for Surgent and a frequent speaker at Surgent live programs and seminars. Ms. Louis is also the president of Emergent Solutions Group, LLC, a company she founded in 2003, dedicated to developing and delivering a wide variety of accounting and auditing training services, including audit staff training, audit productivity improvement, and value-added auditing. Prior to that, she was executive vice president/director of training services at AuditWatch, Inc. Before joining AuditWatch, Ms. Louis was the financial/operational internal audit manager at AARP. While at AARP, she served as one of their specially trained facilitators available as a resource throughout the organization for designing and leading strategic meetings and training sessions. Ms. Louis was also an audit manager for Deloitte and Touche, LLP. During her years in that firm’s Washington, D.C. office, she served as an instructor for the firm’s national “Train the Trainers” program. Ms. Louis graduated summa cum laude from Marymount University with a BBA in accounting.
Non-Member Price $67.00
Member Price $58.00