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

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: https://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 101 | part 1
starting the audit
a guide for cpas aspiring auditors
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