Financial statement auditors need to be able to analyze financial results to not only enhance audit quality but also improve client service through being a better business advisor. Reading and interpreting financial information is a critical skill that this module will enhance.
Major Topics:
- Financial statement analysis, and communicating insights to financial statement users
- Improving audit quality through strong analytic procedures, including identifying and responding to risk of material misstatement
- Developing plausible expectations for comparison to actual financial results
- Detecting earnings management and other risks through analytic procedures
Learning Objectives
- Explain common ratios used to analyze and interpret financial results, focusing on areas such as profitability, liquidity, operating efficiency, and leverage.
- Describe how to improve the use of analytic procedures to detect earnings management and other anomalies.
- Explain how to leverage analytic procedures as audit evidence.
- Discuss how to draw conclusions from financial statement analysis.
Last updated/reviewed: March 23, 2024
Included In Certifications
This course is included in the following Certification Programs:
13 CoursesAudit Training Certification - Level 4 - Supervisor/Manager
- Audit Quality Control - Avoiding Peer Review Deficiencies
- Internal Control Deficiencies and Other Matters - Adding Value Through Required Auditor Communications
- Auditing Impairment of Long-Lived Assets, Including Goodwill - Identifying and Calculating Impairment Losses
- Maximizing Analytic Procedure Evidence - Adding Value Through Useful Financial Statement Analysis
- Accounting Estimates, Including Fair Value - Evaluating the Propriety of Areas with Uncertainty
- Special Audit Considerations - Comprehending Requirements of Group Audits, Compliance Audits, Using the Work of a Specialist or Others, and More!
- The Art of Discipline and Getting Things Done - Applying Better Time, Team, and Project Management Techniques
- Management Skills - Exhibiting Traits of a Balanced Leader-Manager
- Personality Styles - Adapting to Different Types of Personalities for Improved Relationships and Interactions
- Making Rain - Improving Success with Retaining Clients and Attracting Prospects
- General Ethics for Business Professionals
- Accounting Update - Hot Topics for Preparing Current Period Financial Statements
- Auditing & Attest Update - Hot Topics for Current Period Audits and Other Attest Services
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Prerequisites
Course Complexity: Advanced
Prerequisite: Experience on basic audit engagements.
Designed For: Accountants responsible for using analytic procedures to provide greater insight into the financial results for both audit and client service.
Education Provider Information
Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA
95113
Contact:
For more information regarding this course, including complaint and
cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to
.
![Instructor for this course Instructor for this course](https://www.illumeo.com/sites/proformative.com/files/imagecache/user_image_large/pictures/picture-120060-1624953273.jpg)
Jennifer LouisCPA, President of Emergent Solutions Group LLC