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Audit And Attestation Engagements


Skill Success

Summary

Price
Save 81%
£29 inc VAT (was £157)
Offer ends 30 October 2021
Study method
Online, self-paced
Qualification
No formal qualification
Additional info
  • Tutor is available to students
  • Certificate of completion available and is included in the price

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Overview

This course includes lifetime access so you can complete it at your own speed.

This course is designed for those interested to learn the basics the auditing process of financial statements, how to do the risk assessment, how audit sampling method works, how to cover audit procedures related to specific processes, and the quality control standards that review the quality of all factors involved in production.

Benefits of taking this course include:

  • Unlimited and lifetime access to the course
  • Learn the course at your own pace
  • Course can be accessed on any platform
  • 24/7 Customer support

Course media

Description

Audit-Financial Accounting will discuss, in detail, the auditing process of financial statements starting from what an audit is, as well as what the terms attest engagement and assurances services mean.

We will discuss the audit environment, the general format of a public accounting firm, and the general format of an audit team that would conduct the procedures related to an audit. The course will also discuss regulations and regulatory institutions related to the audit process.

Students will learn the different formats of audit evidence and how to document audit evidence so that it can be used as evidence to support the conclusion and opinion of the auditor.

We will examine the internal controls of the organization. Internal controls are policies set up by management to achieve the objectives of the organization. As auditors, we are primarily concerned with internal controls that will lower the risk of financial statements being materially misstated. If we can rely on internal controls as an auditor, we may be able to do more testing of the controls and less substantive testing, and this can be more efficient.

Students will then learn how to put together a standard audit report. The standard audit report is called an unqualified report. It is beneficial to actually memorize or have a good idea of the format of the standard unqualified report.

The Audit And Attestation Engagements will cover the following topics:

Section 1 - Introduction

Section 2 - Auditing Environment

Section 3 - Audit Planning, Audit Tests, And Materiality

Section 4 - Risk Assessment

Section 5 - Audit Evidence

Section 6 - Internal Controls

Section 7 - Audit Sampling: Tests Of Controls

Section 8 - Substantive Tests

Section 9 - Revenue Process Audit

Section 10 - Purchasing Process Audit

Section 11 - Payroll And Human Resources Audit

Section 12 - Inventory Audit

Section 13 - Prepaid Expenses, Intangible Assets And Property Plant And Equipment Audit

Section 14 - Long Term Debt And Equity

Section 15 - Cash And Cash Equivalents

Section 16 - Audit Reports

Section 17 - Professional Conduct, Independence, And Quality Control

Who is this course for?

This course is designed for those interested to learn the basics the auditing process of financial statements, how to do the risk assessment, how audit sampling method works, how to cover audit procedures related to specific processes, and the quality control standards that review the quality of all factors involved in production.

Requirements

No prior knowledge is required to take this course.

Career path

None

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FAQs

What does study method mean?

Study method describes the format in which the course will be delivered. At reed.co.uk courses are delivered in a number of ways, including online courses, where the course content can be accessed online remotely, and classroom courses, where courses are delivered in person at a classroom venue.

What are CPD hours/points?

CPD stands for Continuing Professional Development. If you work in certain professions or for certain companies, your employer may require you to complete a number of CPD hours or points, per year. You can find a range of CPD courses on reed.co.uk, many of which can be completed online.

What is a ‘regulated qualification’?

A regulated qualification is delivered by a learning institution which is regulated by a government body. In England, the government body which regulates courses is Ofqual. Ofqual regulated qualifications sit on the Regulated Qualifications Framework (RQF), which can help students understand how different qualifications in different fields compare to each other. The framework also helps students to understand what qualifications they need to progress towards a higher learning goal, such as a university degree or equivalent higher education award.

What is an ‘endorsed’ course?

An endorsed course is a skills based course which has been checked over and approved by an independent awarding body. Endorsed courses are not regulated so do not result in a qualification - however, the student can usually purchase a certificate showing the awarding body’s logo if they wish. Certain awarding bodies - such as Quality Licence Scheme and TQUK - have developed endorsement schemes as a way to help students select the best skills based courses for them.