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. Using a series of five real-life audit misstatement scenarios, participants will receive hands-on practice at classifying misstatements as factual, judgmental, or projected and at creating a plan to properly document and communicate the error or misstatement.
LEARNING OBJECTIVES
- Describe professional standards requirements when determining and documenting materiality on engagements
- Determine required actions when misstatements are identified on the audit