Common Audit Deficiencies

Author: Melisa Galasso

This course will review common deficiencies identified by the AICPA and state boards of accountancy. It includes discussion on a variety of topics including auditing estimates, internal controls deficiencies, documentation deficiencies, and risk assessment. We will review the areas of concern, the profession’s response to these deficiencies, and how you can overcome them by employing best practices.

Publication Date: April 2020

Designed For
Accountants in public practice.

Topics Covered

• Risk Assessment
• Auditing Estimates
• Documentation Deficiencies

Learning Objectives

• Describe common audit deficiencies
• Identify how to properly perform risk assessment and documentation
• Identify internal controls
• Recognize procedures for auditing estimates using a risk-based approach

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Auditing (5 hours)

Program Prerequisites
Prior experience with GAAS.

Advance Preparation
None