Auditing 101 | Part 1: Starting the Audit: A Guide for CPAs & Aspiring Auditors | Maxwell CPA Review
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- Опубліковано 10 чер 2024
- This video launches a series unpacking the entire audit process for CPA exam takers and aspiring auditors. We'll cover everything from accepting clients and crafting engagement letters to planning the audit, using analytical procedures, and understanding internal controls. You'll also learn how to leverage the work of internal auditors, specialists, and component auditors. Check out the description below for a free preview of our comprehensive Audit Review Course that dives deeper with real-world examples and practice questions!
Check out a FREE PREVIEW of My Comprehensive Audit Course: courses.maxwellcpareview.com/...
VideoChapters:
0:00 - Intro
0:41 - What’s the Purpose of an Audit?
1:21 - Client Acceptance
3:41 - Engagement Letter
5:26 - What are Working Papers?
6:13 - Sufficient and Appropriate Audit Documentation
6:36 - Nature, Extent, and Timing of Audit Procedures
7:38 - Audit Strategy vs Audit Plan
8:28 - Analytical Procedures
9:00 - Understanding the Client’s Business and Industry
9:25 - Understanding Internal Controls
10:22 - Who is the Predecessor Auditor?
11:17 - Using the Work of Others
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#auditing #financialaccounting #accountingstudents #financialstatements #cpaexam #clientacceptance #engagementletter #auditplanning #analyticalprocedures #internalcontrols #internalaudit #specialists #componentaudits
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auditing 101 | part 1
starting the audit
a guide for cpas aspiring auditors
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Just passed Far! I’m going to watch this series of audit of yours to have like an overview of the material before I start fully studying with my course. Thanks for the vids!
Hi Alejandro! Congrats on passing FAR! Now onto audit! I really hope my series helps you.
Thanks for sharing this helpful information.
I feel comfortable the way you explain the lesson.
Thanks you deserve millions of like and follows
Thanks again
Hey….. I just love this video .
With loads of love from Harichandana, India
Hi Kyle Ashcraft, Hope you’re doing well. Appreciate your initiative for making series of Video on Audit part of CPA Exam. I personally can understand very well the concepts by your seamless way of explaining the concepts. Thank You. Love for you from India 😊
Hello Varun, thank you for your very kind comment! I am glad my videos can help clarify the auditing process for you. This Sunday I will launch the second video on risk assessment!
Thank you so much for creating this video
You are very welcome.
00:14
Thank you very much for your clear and illustrative explanation and analysis of the Audit class. It is a great help in the current application of Audit work.
Thanks so much for the kind feedback! I'm glad the video helped.
Thank you for your VDO. May I have one question? Is this for only external audit? How to apply for internal audit? Please suggest me.
i work with Auditors, but i am a not a auditor, and i am here to learn what my coworkers actually do, lol.
The remote ones are playing PlayStation 6 hours a day.
@@srujan00 and the onsite ones are usually busy in dinner parties organised by the company.
one suggestion from my side please use wight board to explain!
Thanks, Monika!
Please try to use white board when explaining... Makes it easier to follow @@MaxwellCPAreview
Please tell me how the internal auditor minimize risk and fraud in Banking industry?
Am a auditing student so i want to lan more about the cause
don't - turn and run in the other direction, now...