Audit 404: Maximizing Analytic Procedure Evidence on Audits

Overview

Maximizing Analytic Procedure Evidence - Adding Value Through Useful Financial Statement Analysis will enhance an ability to read and interpret financial information as a critical audit skill. Financial statement auditors need to be able to analyze financial results to not only enhance audit quality, but to also improve client service through being a better business advisor. Note: This course is recommended as a part of a 16-hour audit skills curriculum for supervisory or managerial auditors, while it is also appropriate for anyone who has responsibilities for analyzing and interpreting financial statements. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Prerequisites

Basic understanding of financial statements

Objectives

After attending this presentation, you will be able to...

• Determine common ratios used to analyze and interpret financial results, focusing on areas such as profitability, liquidity, operating efficiency, and leverage
• Identify how to improve the use of analytic procedures to detect earnings management and other anomalies
• Determine how to leverage analytic procedures as audit evidence
• Identify how to draw conclusions from financial statement analysis

Highlights

The major topics covered in this course include:

• Financial statement analysis, and communicating insights to financial statement users
• Improving audit quality through strong analytic procedures, including identifying and responding to risk of material misstatement
• Developing plausible expectations for comparison to actual financial results
• Detecting earnings management and other risks through analytic procedures