- NY Credits : 8.0
- TX Credits : 8.0
This interactive self-study course discusses pre-engagement activities and audit planning in a homeowners' association or common interest realty association (CIRA) audit. Lesson 1 looks at client acceptance/continuance, establishing the terms of the engagement, and audit planning. Lesson 2 examines how a CPA obtains an understanding of the CIRA, its environment, and internal control. Lesson 3 concludes the course with discussions of audit planning decisions and judgments, sampling, detailed audit plans and workpapers, and planning for initial engagements.
Course Expiration Date: October 31, 2021
Please note, the grading fee for answer sheets submitted by regular mail is $119.
Identify appropriate strategies for making client acceptance and continuance decisions and establishing the terms of the engagement in a CIRA audit.
Recognize the types of audit planning that are needed in a CIRA audit, such as risk assessment, management inquiries, and the engagement team discussion.
Determine how an auditor obtains an understanding of the CIRA and its environment.
Identify the components necessary for an understanding of a CIRA’s internal control.
Identify the audit planning decisions and judgments that may be needed in a CIRA audit.
Determine the best way to address sampling, detailed audit plans and workpapers, and initial engagements when performing a CIRA audit.
Lesson 1—Client Acceptance and Continuance, Terms of the Engagement, and Audit Planning
Lesson 2—Understanding the CIRA, Its Environment, and Its Internal Control
Lesson 3—Audit Planning Decisions and Judgments, Sampling, Detailed Audit Plans and Workpapers, and Initial Engagements