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The Importance of Audit Planning (10 units)

Audit Strategy, Risk Assessment, and Responses to Material Misstatement

10 CPD credits on completion
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Certificate on completion
Downloadable resources
Self-paced learning

About This Course

CPD Course Highlights Certificate on Completion Planning an audit includes establishing the overall audit strategy for the engagement and developing an audit plan, which includes, in particular, planned risk assessment procedures and planned responses to the risks of material misstatement. This 10 unit track is made up of videos, questions and additional reading materials and accounts. A certificate will be issued once you have completed all 10 units. This track is made up of the following sections: Basic Audit Planning (5 units) Advanced Audit Planning (5 units)

What You Will Learn

  • Explain the purpose of audit planning and how it fits within the overall audit process
  • Describe how to establish an audit strategy for a specific engagement
  • Identify the planned risk assessment procedures an auditor uses during the planning stage
  • Assess the risks of material misstatement and design appropriate audit responses
  • Distinguish between basic and advanced audit planning techniques
  • Apply planning procedures to determine the nature, timing, and extent of audit work

Who This Course Is For

  • Auditors at all levels who want to strengthen their understanding of audit planning
  • Accountants in practice who are involved in planning or overseeing audit engagements
  • Finance professionals studying for audit-related qualifications who need CPD credits

Prerequisites

  • A basic understanding of the audit process and auditing standards
  • Familiarity with the concept of material misstatement and audit risk
  • No specialist software is required

Frequently Asked Questions

Course Details

CPD Credits10
CertificateYes

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CPD certificate on completion
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