CPE Credit: 2 hours

 Are you up to speed on the requirements for auditing disclosures and notes to the financial statements? This course is designed for individuals who would like to obtain a better understanding of auditing notes and disclosures. This course explores the auditor’s responsibilities for reviewing, testing, and evaluating notes and disclosures in accordance with U.S. GAAP, PCAOB, and AICPA auditing standards. We will review common notes and disclosures to the financial statements and discuss what the auditor should consider when reading the notes, disclosures, and Management Discussion & Analysis (MD&A). We will discuss audit procedures that would allow the auditor to detect a material misstatement in the notes & disclosures from errors or fraud. Participants should complete the audit staff training courses on the various areas included in the notes & disclosures prior to taking this course. 

Topics Covered:
• Financial Statement Notes
• Financial Statement Disclosures
• Auditing Standards
• Audit Procedures

Learning Objectives:
• Identify common notes and disclosures
• Explain the role of disclosures in enhancing financial statement transparency and compliance.
• Identify and test key disclosures required under U.S. GAAP.
• Apply substantive and analytical procedures to evaluate the completeness and accuracy of disclosures.
• Detect common errors, omissions, or inconsistencies in disclosures.
• Document audit procedures and conclusions related to