Audit 208: Audit Reporting Basics - Report Issuance Process

Overview

Audit Reporting Fundamentals - Introducing Core Concepts in the Audited Financial Statement Drafting and Issuance Process will provide tips and techniques necessary for issuing and reporting on high-quality financial statements prepared under any applicable financial reporting framework. The ultimate objective of a financial statement audit is to issue an auditor's report. Note: This course is recommended as a part of a 16-hour audit skills curriculum for experienced staff auditors, while it is also appropriate for anyone who has responsibilities for drafting and issuing audit reports. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Prerequisites

None

Objectives

Upon completion of this course, you will be able to...

• Identify the inter-relationship of basic financial statements and disclosures
• Recall the financial statement drafting and issuance process
• Perform a quality control check of draft financial statements
• Recall the key elements and variations of the auditor's report
• Recognize special considerations for financial statements prepared under a special purpose framework

Highlights

The major topics covered in this course include:

• Objective of financial reporting and Inter-relationships of financial statements and disclosures
• Special purpose framework financial statements and the impact on audits
• Types of audit reports, including reasons for modification
• Financial statement drafting and issuance process
• Performing a final quality control check before report release