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Live Webcast Replay

How to Get a Better Return on Financial Statement Audits – Avoiding the Most Misapplied Risk-Based Audit Concepts


Total Credits: 8 including 8 Auditing- Technical

Average Rating:
   12
Categories:
ACPEN Industry Institute |  Accounting and Auditing |  Yellow Book
Faculty:
Jennifer Louis, CPA
Course Levels:
Intermediate
Duration:
8 Hours
License:
Product Setting: Expires 30 day(s) after program date.

Dates


Description

By far, the biggest contributing factor that leads to a profitable, yet high quality, financial statement audit is the proper identification, evaluation, and response to assessed risk of material misstatement. When designing your detailed audit plan, how and where you decide to spend your time is largely a matter of professional judgment. The proven tips and techniques for critically rethinking how you plan and design your audit taught in this course will help auditors enhance audit quality and manage profitability in all engagements.

Basic Course Information

Learning Objectives
  • Recognize how the nature, timing, and extent of planned audit procedures can (and should) vary commensurate with assessed risk of material misstatement
  • Recall how workpaper review is a critical tool for promoting audit effectiveness and efficiency
  • List tips for strengthening the design, documentation and evaluation of substantive analytic procedures
  • Explain the impact that strong client and engagement management can have on improving profitability

Major Subjects
  • Properly assessing inherent, control, and fraud risk on an engagement, and linking the results to an appropriately tailored detailed audit plan based on risk assessment and client service goals, regardless of entity type (for-profit, nonprofit, governmental)
  • Leveraging strong substantive analytic procedures as audit evidence to cut back on tests of details
  • The most common efficiency opportunities for tailoring your audit approach based on risk
  • How to use the workpaper review process as a tool for producing a more effective and efficient engagement
  • Using audit documentation to enhance audit quality, while ensuring every workpaper has a purpose
  • How to use the client to your advantage in planning and performing the audit
  • Learn how to get the engagement out the door – on time and on budget! 

Course Materials

Faculty

Jennifer Louis, CPA's Profile

Jennifer Louis, CPA Related Seminars and Products

President

EMERGENT SOLUTIONS GROUP


Jennifer has over 25 years experience in designing and instructing high-quality training programs in a wide variety of technical and “soft skills” topics needed for professional and organization success.  In 2003 she founded Emergent Solutions Group, which is dedicated to meeting organization’s professional training needs on a project or part-time basis.  Jennifer serves a wide variety of clients, including public accounting firms, state CPA societies, private industry corporations, and public sector agencies.Previously Jennifer served as the Director of Audit Product Development at Surgent Professional Education for three years.  Prior to that, Jennifer was Executive Vice President/Director of Training Services at AuditWatch, Inc., a highly respected training and audit process consulting firm later acquired by Thomson Reuters.  Over her six years at AuditWatch, Jennifer served many roles.  She began her career at AuditWatch as Vice President of Product Development.   Jennifer also served as an instructor and consultant for the firm’s Audit Productivity Improvement Program (a comprehensive program enabling accounting firms to enhance audit quality and improve audit efficiency), as well as various other training courses.  Later, Jennifer was primarily responsible for working with clients to design high-caliber, customized training programs.  She led the Training Services Division, which includes AuditWatch University (“core-level” staff training for new hires to managers) and related offerings.  She also co-authored the Guide to Value-Added Auditing (Thomson/Practitioners Publishing Company, Fort Worth, TX, July 2001).

Before joining AuditWatch, Jennifer was the Financial/Operational Audit Manager at AARP.  While at AARP she served as one of their specially trained facilitators available as a resource throughout the organization for designing and leading strategic meetings and trainings.

Jennifer was also an Audit Manager at Deloitte, in Washington, DC.  During her five years with Deloitte, she was a frequent local and national instructor.  Jennifer also served as an instructor for the firm’s national “Train the Trainers” program. 

Jennifer graduated summa cum laude from Marymount University with a BBA-Accounting.  She is currently a member of the American Institute of Certified Public Accountants (AICPA) and is licensed to practice accounting in the Commonwealth of Virginia and North Carolina.Contact Jennifer via email at jlouis@emergentgroup.net, or via LinkedIn


Dates

Tue, Jan 14, 2025 - 10:00am to 05:34pm EST
Thu, Feb 27, 2025 - 10:00am to 05:34pm EST

Additional Info

Basic Course Information

Prerequisites None
Advanced Preparation Experience in basic audits
Designed For Any financial statement auditor who wishes to learn how to be more effective and efficient on engagements
Original Recording Date 2024
Course Developer EMERGENT SOLUTIONS GROUP
Date Added to Catalog 01/2024
Yellow Book Yes

Additional Information

Complaint Resolution Policy

Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199). 


Official Registry Statement

Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org


Instructional Delivery Method

Group Internet Based


Course Registration Requirements

Online Registration


Refund/Cancellation Policy

Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer. 


Reviews

5
4
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1

Overall:      4.5

Total Reviews: 12

Comments

Stephen K - Gainesville, Florida

"Love the corny jokes."

Kelly O

"Presenter had good relevant examples and a way of combining subject matter with real world situations. "