CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

Performing Initial Audits and Reaudits of Opening Balances

Icon_Self-Study
Self-Study
Icon_Level
Basic
Credits
CPE Credits
1 Credits: Auditing

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.

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.

Course Specifics

Course ID
9159023
Revision Date
October 23, 2020
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

Larry L. Perry Headshot
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.

Performing Initial Audits and Reaudits of Opening Balances

Expert Instructors
Format
CPE CREDITS
1 Credits: Auditing

$29.00$49.00

Clear
Icon_Self-Study
Self-Study
Icon_Level
Basic
Credits
CPE Credits
1 Credits: Auditing

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.

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.

Course Specifics

Course ID
9159023
Revision Date
October 23, 2020
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

Larry L. Perry Headshot
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.

Performing Initial Audits and Reaudits of Opening Balances

Expert Instructors
Format
CPE CREDITS
1 Credits: Auditing

$29.00$49.00

Clear