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THE SEVEN ASPECTS OF A GAAS AUDIT

Ancient mariners utilized the seven seas to arrive at their destination. Snow White used the assistance of seven dwarfs to venture through the forest. Auditors employ the seven aspects of an audit, as outlined in the AU-C sections, to journey through the audit process. Designed for everyone in the firm, this course examines how the seven aspects of an audit fit together to provide a complete audit. The course materials utilize a highly illustrative format to increase concept comprehension and retention.

Major Topics:

  • How today’s GAAS is organized into seven aspects of an audit (i.e., general principles and responsibilities; risk assessment and response to assessed risks; audit evidence; using the work of others; audit conclusions and reporting; special considerations; and special considerations in the United States) 
  • Key considerations, determinations, and requirements that pertain to each of the seven facets of an audit
  • Answers to frequent questions that arise in the application of GAAS

Learning Objectives:

  • Stay current on key aspects of maintaining professional skepticism and exercising professional judgment in the planning and performance of an audit
  • Proficiently perform audits through an increased knowledge of how the various sections of GAAS interrelate to each other
  • Skillfully apply the requirements used by auditors on a daily basis

Designed For: All auditors
Level of Knowledge: Intermediate
Prerequisite: Basic audit knowledge
Advanced Preparation: None
Credits: 4