Evaluating Misstatements

Authored by James F. Green, CPA
About this Course
This course introduces generally accepted auditing standards for an auditor’s evaluation of misstatements in a financial-statement audit. Misstatements involve a difference between an amount, classification, presentation, or disclosure in an entity’s financial statements and the amount, classification, presentation, or disclosure required by the relevant financial reporting framework. Upon completion of this course, you will be able to: Describe what a misstatement is, whether due to fraud or error Distinguish between factual, judgmental, and projected misstatements Explain how materiality affects an auditor’s evaluation of misstatements Recall how and why an auditor communicates misstatements to an entity State how identified misstatements affect the audit plan and strategy as the audit progresses List considerations an auditor makes in evaluating the effects of misstatements on the financial statements
$ 60.00
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NASBA Field of Study
Auditing
Level
Basic
CPE Credits
2.0
Prerequisites
A basic understanding of audits of financial statements.
Last Updated
10/13/2016
CCH-CL_EvalMisstnmt