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Thinking Like an Auditor When Preparing Your Financial Statements (LIVESTREAM) (LIAA21/22)

Event Description

External auditors must understand concepts like materiality, reasonableness, and risk of material misstatement. This course will explain how to think like an auditor when preparing your financial statements and related disclosures to achieve fair presentation.

Designed For

Anyone with responsibilities for the fair presentation of financial statements.

Objectives

  • Describe important judgments made in providing reasonable assurance about whether financial statements are materially misstated due to fraud or error
  • Explain how to apply subjectivity, materiality and other critical aspects of professional judgment when preparing financial statements and related disclosures

Major Subjects

  • Determining an appropriate sense of quantitative and qualitative materiality
  • Identifying the critical components of the financial statements that matter most to financial statement users
  • Evaluating where the financial statements are most likely to contain material fraud and error