Become An External Auditor - External Audit Process Level 2

External Audit Process : Financial Statement Accounting : Internal Control: RMM : 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

Planning part of the audit: Learn how to conduct the planning for external company audit

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 Tesla, Amazon & Enron

And more!

Requirements

No experiance required

Description

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 client’s 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 Tesla and Amazon) take place.The fundamentals of auditing will be covered in the course, including pre-audit engagements, understanding internal control, understanding the cycles, understanding controls, and working papers. There are four sections in the course, each of which focuses on a different aspect of auditing. We'll examine pre-audit engagements in the first section, including their goals and methods for carrying them out. We'll talk about how crucial it is to comprehend internal control in the second section, along with the various forms it can take. Understanding the cycles, such as the revenue, purchasing, and payroll cycles, as well as the crucial controls that auditors must take into account when auditing each one, will be the main focus of the third section. The working papers and controls will also be discussed in the final section, along with methods for evaluating controls and recording audit work.  You ought to be able to apply the fundamentals of auditing in real-world situations by the end of the course and have a solid understanding of them. This course is the ideal place to start if you want to advance your knowledge and skills in the field of auditing or if you want to start a career in the field. Become a part of our group right now and take the first step toward becoming a successful and effective auditor. And if you need more convincing, check out the excellent ratings and reviews the Level 1 course is receiving. And of course money back guarantee.  We hope to see your success story soon too!

Overview

Section 1: External Auditing Process - Introduction

Lecture 1 Overview

Lecture 2 Principles of auditing

Section 2: External Auditing Process - Pre-audit procedures

Lecture 3 Pre Audit Procedures

Lecture 4 Establishing understanding with the Client

Lecture 5 Engagement Letter walkthrough

Section 3: External Auditing Process - Internal Control

Lecture 6 Understanding Internal Control

Lecture 7 Control Environment

Lecture 8 Integrity and ethics

Lecture 9 Commitment to competence

Lecture 10 HR policies

Lecture 11 Assignment of authority and responsibility

Lecture 12 Management Philosophy

Lecture 13 Board or audit committee participation

Lecture 14 Organizational structure

Lecture 15 Risk assessment

Lecture 16 Control activities

Lecture 17 Segregation of duties

Lecture 18 Physical controls

Lecture 19 Information processing

Lecture 20 Information & Communication

Lecture 21 Performance review

Lecture 22 Monitoring

Section 4: External Auditing Process - Understanding the cycles

Lecture 23 Understanding Sales cycle

Lecture 24 Understanding purchases cycle

Lecture 25 Understanding Payroll cycle

Section 5: External Auditing Process - Controls and Working papers

Lecture 26 Controls

Lecture 27 Documenting understanding of Internal control

Lecture 28 Test of control

Lecture 29 Error VS Fraud

Lecture 30 Understanding the business and Internal control Working Paper

Lecture 31 Walkthrought Working Paper

Lecture 32 Test of contol Working paper

Lecture 33 Planning Analytics Working Paper

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