Description

Inquiry is an important procedure for gathering audit evidence. In addition, accountants need to know how to effectively and efficiently research technical accounting and financial reporting issues for the preparation and fair presentation of financial statements in accordance with an applicable financial reporting framework. This module will provide tips for improving the critical audit skills of inquiry and research.

Major Topics:

• Overview of common uses of inquiry to satisfy various professional and regulatory standards and requirements
• Potential traps and downfalls when relying on inquiry to support objectives, including options for increasing the persuasiveness of information gathered through inquiry
• Sources for researching and understanding the accounting and financial reporting requirements
• Practice exercises researching technical issues