Auditing 101 | Part 1: Starting the Audit: A Guide for CPAs & Aspiring Auditors | Maxwell CPA Review

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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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Опубликовано:

23 июл 2024

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Комментарии : 23

@talosanconsultingfirm5103 Год назад

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

@trendaddict617 Год назад

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!

@MaxwellCPAreview Год назад

Hi Alejandro! Congrats on passing FAR! Now onto audit! I really hope my series helps you.

@user-fg7nl7vy1u 5 месяцев назад

Thank you so much for creating this video

@MaxwellCPAreview 4 месяца назад

You are very welcome.

@varunv9643 2 года назад

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 😊

@MaxwellCPAreview 2 года назад

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!

@sibekisomotsa5767 5 месяцев назад

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.

@MaxwellCPAreview 4 месяца назад

Thanks so much for the kind feedback! I'm glad the video helped.

@akulaharichandnarau5280 4 месяца назад

Hey….. I just love this video . With loads of love from Harichandana, India

@chernoii3964 Год назад

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.

@gm836 День назад

Is this the same in the UK? Also, thank you for such a clear explanation. This will help in my graduate scheme interviews.

@kristian4805 Год назад

i work with Auditors, but i am a not a auditor, and i am here to learn what my coworkers actually do, lol.

@srujan00 3 месяца назад

The remote ones are playing PlayStation 6 hours a day.

@jigminidup2406 Месяц назад

@@srujan00 and the onsite ones are usually busy in dinner parties organised by the company.

@Monika-np5dd Год назад

one suggestion from my side please use wight board to explain!

@MaxwellCPAreview Год назад

Thanks, Monika!

@akinwole 2 месяца назад

Please try to use white board when explaining... Makes it easier to follow @@MaxwellCPAreview

@SamuelArega-gj5uj 4 месяца назад

Please tell me how the internal auditor minimize risk and fraud in Banking industry?

@134princesa 27 дней назад

I hope he answers your question. I work for a bank, and I am an accounting student as well, but I am waiting for an opportunity in the bank to move to the auditing department. I am taking auditing classes at college right now, and I love it.