This 2-hour session emphasizes the key activities that ensure that appropriate quality control procedures were performed on the financial statement audit.
Develop a game plan for successful audits, learn more about MACPA’s Auditing Bits in Bytes™.
Learning Objectives
- Identify how to leverage the audit documentation and review process to ensure a quality and profitable engagement
- Describe key activities that ensure appropriate quality control procedures were performed on the financial statement audit
- Recognize common peer review deficiencies that quality control policies and procedures should seek to avoid
Major Topics
- Audit Documentation & Review – Using the workpaper documentation and review process to ensure sufficient compliance professional, technical, ethical and regulatory standards
- Statement of Quality Control Standards – An overview of the AICPA standard that clarifies and enhances quality control requirements for CPA Firms performing financial statement audits
- Engagement Quality Control Review – When this may be necessary, who can perform most effectively perform this review, what he/she should review, and documentation considerations
- Peer Review – Common deficiencies identified related to financial statement audits, and how CPA firms can strengthen quality control policies and procedures to combat them
- Extensive illustrative examples will be used to reinforce a practical understanding of the most critical principles and standards that support a high-quality, insightful, and profitable engagement
