DESCRIPTION

This module provides participants with an understanding of four primary assurances services (audits, reviews, compilations, and preparations), including the differences in procedures performed for each level of service and the resulting level of assurance provided. The module also focuses on the importance of understanding the entity, understanding internal controls, assessing risk, and scoping through a set of engaging simulation activities.

LEARNING OBJECTIVES

• Define the four types of assurance services, including key requirements for each service
• List and describe the purpose and outcomes of the major phases of an audit

Prerequisites

6 months to 1 year experience performing audits (or equivalent experience)

Advanced Preparation

None

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