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Bisk CPEasy

Bisk GAAS Guide

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Overview / Abstract:

Upon successful completion of this program, the user should be able to:
Explain the rationale for recently issued audit standards
List the basic responsibilities and nature of the audit function
Identify the overall objectives of the independent auditor and the conduct of an audit in accordance with GAAS as stated in SAS No. 122
Discuss the existence of Public Company Accounting Oversight Board (PCAOB) auditing standards and when they apply
Discuss the existence of government auditing standards and when they apply
Discuss the auditing standards that affect audit planning
Identify the elements of an engagement letter
Identify who the practitioner needs to communicate with and when
Explain the importance of planning and supervision with respect to the audit
Explain the nature of audit risk and materiality
Discuss the auditor's responsibility for the detection of fraud
Discuss the implications of illegal acts by the client on the auditor's report and what the auditor must do as a result of discovering an illegal act has been committed
Identify the communications that need to be made to the audit committee
Identify the components of internal control
Discuss the relevance and importance of Statements of Auditing Standards (SASs) related to internal control
Discuss why evidence is needed to support the assessed level of control risk
Explain the objectives of internal control
Explain the nature and appropriateness of audit evidence
Identify the management representations that should be made for each audit
Identify when analytical procedures are required in an audit
Explain why a specialist is used and generally for what purposes
Explain the use of an audit program
Explain the relevance and importance of Statements on Auditing Standards (SASs) related to audit programs and procedures
Discuss the relevance and importance of auditing standards related to Audit Sampling
Identify the types of sampling
Identify the overall auditing objectives related to reporting
Define the elements in a standard audit report
Identify the departures from the standard report and why they would be issued
Discuss when an emphasis-of-matter paragraph is appropriate
Identify what special reports exist
Identify bases of accounting other than accounting principles generally accepted in the United States
Discuss restrictions on use of the auditor's report
Identify which statements are part of personal financial statements
List the attest standards and discuss how they relate to the general audit standards
List the components of the AICPA's Code of Professional Conduct
Identify the Principles of Conduct
Discuss the auditor's responsibilities to clients and the profession
Discuss the accountant's civil liability
Explain the accountant's criminal liability under certain federal and state statutes


Aug 18, 2020


Accounting , Financial Advisor CE


Book, DVD, Online, Workbook


145.00 - 249.00

Credits / Hours

16 QAS/Registry (based on 50-minute hour)

Keywords / Search Terms

Bisk CPEasy

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