DESCRIPTION
During this interactive, engaging module, participants will receive an overview of the audit process, while identifying key phases and the typical order in which the key phases are completed. Participants will also investigate the specific purpose, required elements, and required audit procedures related to understanding the entity and its environment.
LEARNING OBJECTIVES
- List the phases of the audit process and the typical procedures completed in each related phase
- Identify critical information to be gathered in understanding the entity, along with potential risks of material misstatement
- Explain various methods for understanding the entity and environment to gather risk assessment information
