This course will cover some of the new audit requirements and standards. There are many, and there are many more on the way! We need to understand what is brewing and provisions for the new audit report.

Going concerns and going concerns considerations are becoming increasingly common in many situations today. We will talk about what the going concern standard is, and how we go about determining whether or not we have going concern issues.  The class dives into new communications that are required for those charged with governance. A few years ago, everyone talked about management, but those charged with governance include not only traditional managers within an organization, but also board of directors or senior management. The purpose of this is to make sure that issues are escalated to the appropriate level of management or tier within the organization structure to get the attention that they deserve.

This class will also cover new procedures related to information that needs to be included within an annual report. Let’s identify techniques to improve auditor and auditee relationships. When you go into an office and announce that you are involved in an audit, in many cases people are overworked and an auditor is seen as an imposition, an interruption, or just more work. We will talk about how you can smooth over some of those relationships as well as techniques to better communicate findings with the auditee. We need to make sure that we can communicate these findings so that those charged with governance can go in and correct the problem and get back into compliance.

Lastly, we will want to focus on the five attributes of a finding.  Examples will be provided.