There are no prerequisites.

Course Description

In Performing Initial Audits and Reaudits of Opening Balances, auditing expert Larry Perry presents a summary of AU-C Section 510 as well as the typical procedures of an audit engagement. AU-C 510 applies when a change of auditors has taken place or is in process for an audit or reaudit of financial statements. The course interfaces the requirements of AU-C Section 510 for auditing opening balances with the applicable stages of the audit process. AU-C Section 510, Opening Balances - Initial Audit Engagements, Including Reaudit Engagements, along with other Clarified Statements on Auditing Standards, is effective for audits of financial statements for periods ending on or after December 15, 2012.


Larry L. Perry, CPA

Larry L. Perry, CPA, has been in practice for over 40 years. He writes accounting and auditing manuals and is currently an author and presenter of live staff training seminars, live webcasts, and self-study CPE programs, including self-study courses for Western CPE.

He’s a managing member of CPA Firm Support Services, LLC, an organization that provides resources, training, and consulting to smaller CPA firms. Larry focuses on practical ways to perform effective and efficient accounting and auditing engagements.

Course Specifics

Dec 7, 2017
There are no prerequisites.

Compliance Information

Qualifies for CA Fraud: 1 CA Fraud

Learning Objectives

Upon successful completion of this course, participants will be able to:

  • Identify procedures to obtain sufficient evidence regarding opening balances to determine whether the opening balances are free of misstatements that materially affect current period financial statements.
  • Identify that appropriate accounting policies, or any changes, have been consistently applied in the current period's financial statements along with proper footnote disclosures.
  • Cite procedures for the four phases of the audit process.
  • Cite information relevant to the Small Audit Systems Walk-through Form to document accounting systems and internal control.

Choose Your Preferred Format

Online Access

Get immediate access to a robust collection of learning and reference materials, allowing you to dive deep into the information you need. Our self-study materials are authored by top-quality, industry experts who focus on helping you grasp concepts quickly using real-life examples. Download your CPE to any device, and take it with you so you can learn when and wherever you want. Complete your CPE with an online exam, and enjoy instant grading with the option to print your certificate immediately upon passing.

online access
Hard Copy

Our self-study materials are authored by top-quality, industry experts. You’ll receive a bound notebook of all the course materials, shipped to you within one business day. In addition, you’ll also have full online access. Each self-study package includes a robust collection of learning and reference materials to help you cover the information efficiently and put it into practice immediately.

hard copy
Self-Study Video

Experience high-quality instruction with our Self-Study Videos, available to you 24/7. With more than 80+ videos currently in the Western CPE Self-Study Video library, you can see and hear our expert instructors deliver the information you need in a dynamic way that allows you to immediately apply your learning. Unlike a live course or webcast, you can complete the course on your own time, playing and pausing as needed. Self-Study Videos allow you to complete your CPE requirements on your own time.

hard copy

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