Sometimes financial statement audits are performed under special circumstances, such as opening on a group’s set of financial statements, extending responsibilities to opining on compliance, performing an initial audit, using the work of valuation expert or internal audit, and more. This course will address key considerations in these special audit conditions.
Major Topics:
- Group audit requirements
- Extending financial statement audit concepts to compliance audits
- Initial audit considerations
- Using the work of specialists and internal audit
- Other common audit variations
Prerequisites
Prerequisite: Experience in audits.
Designed For: Accountants who perform more complex audits.
Learning Objective
- Discover and describe the special considerations when performing special audits, such as group or initial audits.
- Explore and explain factors that influence the auditor’s ability to use the work of specialist or others as evidence.
- Recognize and list common variations to the traditional financial statement audit engagement.
Last updated/reviewed: March 9, 2024
(0) Reviews
(5 rating)Lesson Questions and Answers0 Questions
There are no questions.
Answers to Frequently Asked Questions (FAQs)
Jennifer Louis
CPA, President of Emergent Solutions Group LLC
INTRODUCTION AND OVERVIEW
- Learning Objectives for Special Audit Considerations 0:32
- Internal Audit Engagements 19:26
- Group Audit of F/S 15:16
- Group Audit of F/S Cont'd 12:37
- Using the Work of Internal Audit or Specialist 3:54
- Sarbanes-Oxley Act 9:38
- Critical Audit Matters and SAS Requirements 11:58
- Government Auditing Standards and OMB Uniform Guidance 13:38
- Reporting on Compliance and Auditor's Involvement in an Exempt Offerings 6:56
- Other Information Included in Annual Reports 5:06
CONTINUOUS PLAY
- Special Audit Considerations 1:39:01
SUPPORTING MATERIAL
REVIEW AND TEST
- REVIEW QUESTIONS quiz
- FINAL EXAM exam
Ask the instructor a question about this lesson