The COVID-19 pandemic created unique issues for auditors. Starting with how the audit is conducted, maintaining safety for staff and clients, and accessing client’s data and locations. Auditors also need to consider how transactions were posted, how government shutdowns affected the business, and how changes in consumer demand and spending affected the entity. Auditors need to review how the organization posted PPP or EIDL loans. Auditors need to take special care in reviewing pandemic related disclosures and going concern issues for audit clients
Publication Date: January 2021
Designed For
CPAs, CMAs, CIAs, CFEs, CFFs, MAFFs, internal auditors, external auditors, managers, staff accountants, CFOs and others responsible for the audit process.
Topics Covered
- Auditing Standards
- Financial Statement Assertions
- COVID”19 Issues
- Considering COVID”19 Fraud
- Audit Sampling
- Data Analytics Examples
Learning Objectives
- Identify audit issues related to the COVID”19 pandemic
- Recognize which type of sampling gives all items an equal chance of being selected
- Identify the correct formula for the audit risk model
- Recognize concerns for auditors in 2020
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Auditing (2 hours)
Program Prerequisites
None
Advance Preparation
None
Instructor
Robert K Minniti
DBA, CPA, CFE, Cr.FA, CVA, MAFF, CFF, CGMA, PI
Dr. Minniti is the President and Owner of Minniti CPA, LLC. Dr. Minniti is a Certified Public Accountant, Certified Forensic Accountant, Certified Fraud Examiner, Certified Valuation Analyst, Certified in Financial Forensics, Master Analyst in Financial Forensics, Chartered Global Management Accountant, and is a licensed private investigator in the state of Arizona.
Dr. Minniti received his doctoral degree in business administration from Walden University, received his MBA degree and Graduate Certificate in Accounting from DeVry University’s Keller Graduate School of Management, and received his Bachelor of Science in Business Administration degree from the University of Phoenix. Dr. Minniti taught graduate and undergraduate courses in forensic accounting at DeVry University, Grand Canyon University, Kaplan University, Northwestern University, and the University of Phoenix. He designed graduate and undergraduate courses for Grand Canyon University, Northwestern University, and Anthem College.
He is a writer and public speaker. He has experience in forensic accounting, fraud examinations, financial audits, internal audits, compliance audits, real estate valuations, business valuations, internal control development, business continuation planning, risk management, cyber security, privacy laws, data security, Sarbanes-Oxley compliance work and business consulting. In addition to his practice Dr. Minniti is an instructor teaching continuing professional education classes for a variety of providers and CPA Societies.
Dr. Minniti is currently serving as a board member on the National Association of Certified Valuators and Analysts' (NACVA) Litigation Forensics Board (LFB) and as a committee member on the Arizona State Board of Accountancy's Law Review Advisory Committee.