• Course Information

    Title: Auditing: Independence, Risk and Documentation Standards
    Category: Accounting and Auditing
    Field of Study: Auditing
    Course Code: A018-0438
    CPE Credits: 8.0
    Price: $59.95
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Description

Description:
The level of public confidence in the auditor's work is related to the credibility of the auditor. This course focuses on the principles of independence, audit risk, and audit documentation that establish a foundation for the credibility of an auditors' work. It emphasizes the importance of the audit independence, values of auditor's assessment and response to risk, and the significance of sufficient audit documentation. Competence also significantly influences on audit credibility. One way to maintain competence is through understanding the auditing standards, especially the latest developments. To inform auditors of significant changes affecting audit engagements, this course reviews:
- Rule 3210 and 3211 that improve transparency of audits by requiring disclosure of certain audit participants
- PCAOB's new organizational structure that improves the usability of the auditing standards
- SAS 130, part of the Attestation Clarity Project, providing guidance for integrated audits
- SAS 131, addressing the reporting requirements of GAAS and PCAOB
- Highlights of AICPA's Cybersecurity Risk Management Reporting Framework
- Highlights the Yellow Book such as overall 2011 revision, applicability, and relationship with other standards

Delivery Method:

Level: Intermediate

Prerequisites: None

Advanced Preparation: None

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Course Details

Author: Delta Publishing

Category: Accounting and Auditing

Field of Study: Auditing

Passing Score: 70%

Publication Date: 09/19/2018

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Objectives

Objectives:
Chapter 1: Recognizing the Latest Developments
1. Identify disclosure requirements of engagement partners and audit participants on Form AP
2. Recognize the amendments to PCAOB's rules after the reorganization of its auditing standards
3. Identify SAS 130 requirements for an integrated audit
4. Recognize SAS 131 amendments to auditors' reporting responsibilities
5. Identify the key components of the cybersecurity risk management examination report
6. Assess whether an engagement requires the use of the Yellow Book
7. Identify ways that auditors can use the Green Book in their work.

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Profession

NASBA: Yes

QAS: Yes

CPA: Suitable for all CPAs

IRS: No IRS credit for Enrolled Agents.

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