CPE & Event Catalog

Financial statement translation. Foreign currency transactions. Other foreign currency topics.

Compare and contrast the basis and requirements of preparing financial statements, compilations, reviews, and audits. Critical elements of compilation, review, and audit reports. Impact of special purpose accounting frameworks and other special issues. Exercise on designing inquiries and analytics in a review. Case study differentiating the scope of various non-attest and attest services. Avoiding litigation risks in accounting services.

Effective and efficient financial statement audits.

Agile auditor. Agile audit constraints. Agile audit engagement. Agile audit benefits.

Identifying risk of material misstatement through preliminary analytic review procedures. Ensuring sufficient appropriate audit evidence is gathered through final overall analytic review. Establishing expectations for analytic procedures. Properly designing, documenting and evaluating the results of substantive analytic review procedures. Disaggregating substantive analytics for stronger results. Factors impacting the design of substantive analytic procedures. Common pitfalls in performing substantive analytic procedures.

Analytical procedures. Critical thinking.

Terms of engagement - Au-C Section 210. Auditor's communication with those charged with governance - AU-C Section 260. External confirmations - AU-C Section 505. Written representations - Au-C Section 580. Communicating internal controls matters identified in an audit - Au-C Section 265. Audit evidence - litigation, claims, and assessments - Au-C Section 5001.

Fraud studies and statistics. Fraudulent financial reporting risk factors. Misappropriation of assets. Auditing. Identifying and assessing risks. Assessment results response. Revenue recognition fraud. Disclosure failures. Studying fraud schemes.

Audit documentation.

Red flags in financial and revenue reporting. Financial statement irregularities. Key financial ratios and benchmarks. Unusual accounting practices. Using analytics and trend analysis. Revenue recognition red flags.

Avoiding peer review deficiencies.

Red flags in financial and revenue reporting. Financial statement irregularities. Key financial ratios and benchmarks. Unusual accounting practices. Using analytics and trend analysis. Revenue recognition red flags, and more.

Common reasons for modifying audit opinions. Emphasis-of-matter or other-matter explanatory paragraphs. General audit procedures to identify relevant transactions and events impacting financial statement presentation and disclosure. Drafting relevant general footnotes, such as related party transactions, subsequent events, loss contingencies, and more. Improving the footnote drafting process.

Objective of financial reporting and Inter-relationships of financial statements and disclosures. Special purpose framework financial statements and the impact on audits. Types of audit reports, including reasons for modification. Financial statement drafting and issuance process. Performing a final quality control check before report release.

Audit skills.

Audit and attest quality matters.

Procedures for testing existence and valuation.

Auditing cash.

Areas of audit interest. Audit planning. Understand the contractor and its environment. Understanding audit risk. Understanding contractor controls. Materiality. Audit procedures specific to contractors. Auditing contractor estimates. Developing audit documentation.

Tips and techniques for obtaining sufficient appropriate audit evidence.