DESCRIPTION

This module focuses on the evaluation of audit evidence near the end of the engagement, where auditors must often exercise critical thinking and professional judgment – specifically, uncorrected misstatements and deficiencies in internal control. Through small-group exercises and quiz games, participants will gain an understanding of the carry-forward impact of prior-year passed adjustments, practice categorizing the severity of internal control deficiencies, and review the requirements for communication with those charged with governance.

LEARNING OBJECTIVES

  • Contrast available approaches for addressing uncorrected misstatements
  • Evaluate and classify deficiencies in internal control
  • Identify required communications with the client

Prerequisites

  • 5+ Years Professional Experience

Advanced Preparation

None

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