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Under generally accepted auditing standards, all auditors are required to follow a risk based approach to auditing. Auditors of smaller businesses often complain of being overwhelmed with a seemingly endless number of risk-based checklists and forms to be completed in connection with a financial statement audit. Even after conscientiously completing such checklists many auditors wonder “if they got it right.” The focus of this course is to help you get it right using documentation techniques designed for smaller entities but which may be expanded for larger entities. Throughout the course we’ll enhance your understanding with exercises designed to illustrate how the concepts apply to real-life audit situations.
When you complete this course, you will be able to:
Advanced Preparation: None