Through the course of this series, you have learned about preengagement activities, which start the audit process, and applying the risk assessment process to various account balances in order to determine the appropriate audit steps necessary to mitigate the inherent risks identified. You've also learned about performing the identified steps and collecting sufficient, appropriate audit evidence to form an opinion. The primary focus of this chapter will be concluding the engagement.
To wrap up the engagement, there are numerous procedural steps to complete, as well as various types of correspondence with management and those charged with governance the auditor must consider and, of course, the auditor's report. However, before we conclude the audit, it is necessary we address two areas that, ironically, are normally addressed at the start of the engagement-opening balances in an initial audit engagement and group audit considerations. Again, normally completed well before this stage of the audit, they are presented now to ensure you have the experience and knowledge of the rest of the audit first. Once the module covers these two issues, concluding the audit will be the primary focus.
This course is being offered by a 3rd party vendor and will not be accessible on your My CPE page. Webinar access information will be emailed directly to you by AICPA.