Many organizations are audited by independent public accountants. The purpose of an audit is to express an opinion on the fairness of presentation of financial information prepared by management. An audit enhances the value of financial information by making it more trustworthy and credible.
In this multi-part course, we learn how public accountants plan and execute an audit. This is Part 2 of 4, which covers audit process, evidence, risk models and core audit principles.
Course Series
This course is included in the following series:
4 CoursesAuditing
- Auditing Financial Statements Part I: An Overview of The Financial Statement Audit
- Auditing Financial Statements Part II: Auditing Principles
- Auditing Financial Statements Part III: Internal Controls and Fraud Controls
- Auditing Financial Statements Part IV: Auditing Cycles and Audit Completion
Learning Objectives
- Discover the three phases of the audit process: planning, execution, and completion
- Identify management assertions
- Discover the various forms of audit evidence
- Discover the audit risk model
- Discover how to assess inherent risk
- Discover how to calculate financial statement materiality
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Prerequisites
No Advanced Preparation or Prerequisites are needed for this course. However, it is recommended to take the other courses in the series prior to completing this one.