The public places high value assurance services provided by an external public accountant, as the CPA’s involvement directly enhances the degree of confidence intended users can place on the financial statements to make economic decisions. A proper mindset, including professional skepticism, is a critical feature of a high-quality audit or other attest service. Professional skepticism is an essential attitude that enhances the ability to identify and respond to conditions that may indicate possible material misstatement, whether due to fraud or error.
Major Topics:
- Understand the importance of professional skepticism, especially when performing audit or other attest services
- Recognize specific fraud responsibilities in a financial statement audit
- Explain the varying levels of persuasiveness of evidence to support assurance conclusions or opinions
Learning Objectives
- Discover and discuss traits of a skeptical auditor.
- Explore and explain applying professional skepticism on any assurance service.
- Recognize and describe fraud, including examples of fraud indicators.
- Identify and discuss the auditor’s responsibility for identifying and responding to fraud in a financial statement audit.
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Included In Certifications
This course is included in the following Certification Programs:
13 CoursesAudit Training Certification - Level 1 - Beginning Staff
- Professional Skepticism - Creating a Mindset for Finding Fraud and Error
- Audit Documentation - Creating Workpapers That Pass Review
- Adapting to the Engagement - Differentiating the Requirements of Preparations, Compilations, Reviews, and Audits
- The Audit Risk Model - Understanding Foundational Principles
- Internal Control Fundamentals - Satisfying Audit Requirements for Evaluating Design and Implementation
- Auditing Cash - Applying Basic Skills to the Starting Point of Any Audit
- Auditing PP&E, Including Leases under Topic 842 - Digesting the Risks of Improper Treatment of Tangible Long-Lived Assets
- Auditing Inventory - Performing Required Observations and Other Common Procedures
- Analytical Procedures - Comprehending Financial Statement Audit Fundamentals
- Audit Reporting Fundamentals - Introducing Core Concepts in the Audited Financial Statement Drafting and Issuance Process
- AICPAs Code of Professional Conduct - Exploring the Foundational Principles Underlying the CPA Profession as a Whole
- 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
No Advanced Preparation or Prerequisites are needed for this course.
Designed For: Professionals who perform audits or attest services.