- NY Credits : 8.0
- TX Credits : 8.0
This interactive self-study course discusses concluding the audit of a local government. Lesson 1 takes a look at the general audit procedures that must be applied during an audit (procedures other than those related to specific financial statement elements). Lesson 2 covers other parts of completing the audit, such as considering the accumulated results of audit procedures, performing analytical procedures in the final stage of the audit, reviewing the workpapers, and other summarizations and evaluations that apply. Lesson 3 discusses drafting the financial statements and the auditor's report, various communications that must be made at the conclusion of the audit, management letters, engagement summary memorandum, and the discovery of matters after the date of the report.
Course Expiration Date: April 30, 2020
Please note, the grading fee for answer sheets submitted by regular mail is $105.
Identify authoritative literature related to concluding the audit and general procedures that auditors should perform.
Identify general procedures that should be performed related to the subsequent events review, related party transactions, going concern considerations, and accounting estimates.
Identify steps that an auditor should perform when considering the accumulated results of audit procedures, performing analytical procedures in the conclusion of the audit, and reviewing the workpapers.
Identify requirements for drafting the financial statements and the auditor's report.
Assess issues related to communicating with those charged with governance and communication of fraud and violations of laws and regulations.
Lesson 1—General Audit Procedures
Lesson 2—Additional Steps for Completing the Audit
Lesson 3—Drafting, Communication, and Subsequent Discoveries