Surgent's The Basic Audit Concept (Audit Skills Training: Level 1) (A1M6)

Course Details





Field of Study

Accounting & Audit

CPE Credit

3 hours CPE credit

Level of Knowledge



Surgent McCoy CPE, LLC




Financial statement auditors are engaged to provide reasonable assurance that financial statements are not materially misstated, whether due to fraud or error. Professional standards require auditors to obtain sufficient and appropriate evidence to support that opinion. It is critical for effective and efficient auditors to have a clear understanding of all the important elements and concepts related to a financial statement audit.


  • The reason that entities engage a financial statement audit
  • List the applicable financial reporting frameworks available
  • Differentiate the responsibilities of management and auditors
  • The various phases of a financial statement audit
  • Evaluating and documenting audit risk, both at the overall and relevant assertion level
  • Case study differentiating high risk audit engagements and higher risk audit areas


  • Discuss the basis for an audit
  • Explain the auditor’s professional responsibilities
  • Describe important audit concepts, such as materiality
  • Explain the audit risk formula
  • Discuss considerations when Identifying and assessing risk of material misstatement

Designed For

Professionals new to auditing

Course Pricing

WYOCPA Member Fee

Applicable if you are a WYOCPA member in good standing.

Non-Member Fee

Applicable if you are not a WYOCPA member.

Your Price $70.00

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