Become An External Auditor - External Audit Process Level 1

External Audit Process : Financial Statement Accounting : Business Valuation Methods : Certified Public Accountant (CPA)

What you'll learn
The purpose and requirements of external audits
Why external audits are crucial for stakeholder transparency
Interpret financial statements from an external auditor’s perspective
Best practice in audited financial statements
FIELDWORK: Learn how to conduct a full external company audit from A-Z
Audit financial statements with general ledger (GL) dumps and trial balances (TB)
Analytical procedures in external audits
How to identify and select the correct application of materiality
How to select samples for testing
Organize and document your working paper correctly
Assist clients with obtaining an external audit
Request relevant audit information from clients
Real-life case studies of external audits for companies such as Facebook (Meta), Apple & WeWork
And more!
Requirements
While you do not necessarily need to be a qualified CPA to take this course, a good understanding of accounting is definitely beneficial. The course can be especially valuable so that you can start requesting and arranging the relevant information in preparation of your upcoming external audit.
Description
Updated 2022Are you a number-cruncher of note with an eye for detail? Is integrity and procedural soundness important to you?If you are either considering a career as an external auditor or already in the game of accounting and auditing, this course in how to become an external auditor will beautifully supplement your skills.Developed and presented by a qualified CPA with Big 4 experience, this course will help you quickly master the ins and outs of implementing a solid external audit process – and why it’s so important. Understand the standards when it comes to external audits, why transparency is key during this process, and what this means for your clients’ stakeholders.For those already in the game of auditing, this is your chance to refine your skills and become a next-level auditor that gets the job done right the first time. Here, you can perfect the art of communicating with clients on interpreting their financial statements and requesting important substantiating documentation. Every company and reporting quarter is different, meaning that no two audits will ever be the same – and the same goes for the requirements of each.We provide you with practical insights and experience in managing an independent external audit without any assistance. With real-life examples, you can conduct your own practice audit and compare your findings with relevant examples. The course will also give you a solid understanding of how external audits of large multinational companies (such as Facebook and WeWork) take place.If you need a great course in how to become an external auditor - and if these sound like the right skills to add to your toolbox - then don’t delay. Invest in this course today! And if you need more convincing, check out the excellent ratings and reviews this course is receiving. And of course money back guarantee.  We hope to see your success story soon too!#accountant #auditor #auditpro #business #externalauditor #professional #financialstatement #transparency #valuation

Overview

Section 1: External Auditing Process - Introduction

Lecture 1 Introduction

Lecture 2 Financial statements, General Ledger & Trial Balance

Lecture 3 Mapping TB & Looking at Working Papers

Lecture 4 Looking at Working Paper

Lecture 5 Introduction to Risks and Materiality

Lecture 6 Materiality

Lecture 7 Audit Risks Overview

Lecture 8 Inherent Risks

Lecture 9 Control risk

Lecture 10 Detection Risk

Lecture 11 Audit Risk in depth

Lecture 12 Audit Risk Assessment

Lecture 13 Assessment of Client Business Risks

Lecture 14 Planning Materiality (PM)

Lecture 15 Planning Materiality in excel (Practical)

Section 2: Business Valuation Methods - Core of auditing

Lecture 16 Auditing Cash Overview

Lecture 17 Importance & Assertions for the Audit of Cash & Bank Balances

Lecture 18 Difference Between Audit Procedure & Audit Assertion

Lecture 19 Internal Controls for Cash and Bank Balances

Lecture 20 Class of transaction vs Account Balance

Lecture 21 Substantive Procedures

Lecture 22 Bank Reconciliation

Lecture 23 Bank Confirmation

Lecture 24 Fraud Related Audit Procedures

Lecture 25 Cash working paper using excel (practical)

Lecture 26 Auditing Accounts Receivables

Lecture 27 Accounts Receivables Working Paper excel (practical)

Lecture 28 Auditing Fixed Assets Overview

Lecture 29 Assertion for the Audit of Fixed Assets

Lecture 30 Inherent Risks for Fixed Assets

Lecture 31 Fixed Assets Working Paper Excel (Practical)

Lecture 32 Auditing Liabilities

Lecture 33 Auditing Liabilities excel (practical)

Lecture 34 Auditing Revenue

Lecture 35 Auditing Revenue Excel (Practical)

Lecture 36 Auditing Samples Overview

Lecture 37 What is Audit Sampling

Lecture 38 Steps of Audit Sampling

Lecture 39 Selecting Representative Samples

Lecture 40 Sample size determination excel (practical)

Lecture 41 Auditing Expenses

Section 3: Conclusion

Lecture 42 Making the list of requirements

Lecture 43 WeWork Case Study (Download Files)

Fresh graduates,Auditors,Accountants,Managers,CPA's