Helping practitioners navigate the challenges of auditing during the coronavirus.
It is not hyperbole to say that this is the most challenging time to conduct an audit in our profession’s history. Our ability to communicate with our teams and clients has been complicated by social distancing and working remotely. The consequence for our profession is a need to re-examine how we plan and conduct the audit for many of our clients as the same as last year's (SALY) approach may be inefficient and impractical because of the pandemic. Also, there may be increased fraud and significant risk factors to your audit clients resulting from the negative economic consequences of the pandemic.
In this video learning course, we will first examine how the coronavirus has disrupted the ways in which auditors traditionally gather evidence such as the use of inquiry, inspection, and observation (CAS 500). For example, how do we gather evidence for the assertions of existence and valuation of inventory if the auditor is not able to observe test counts because of the coronavirus?
We will examine key areas of the Canadian Audit Standards and provide alternative ways of gathering evidence that may be more efficient and reliable during the pandemic. We will also provide best practices to help auditors communicate with their teams and clients.
10 activities • 10 videos • duration: 1h 49m
Founder of Sheriff Consulting
I am the founder of Sheriff Consulting which specializes in the development and delivery of accounting, auditing and foundational skill courses and workshops. Teaching and working with professionals in diverse and dynamic learning environments has been my passion and experience for over 10 years. As a qualified Canadian Chartered Professional Accountant (CPA, CA) and U.S. Certified Public Accountant (CPA), I work with finance and accounting professionals in both the U.S. and Canada to meet their training and development needs. My goal has always been to create an engaging and interactive learning environment. To help my own path of continual improvement in achieving this goal, I have also received training and worked as a professional actor. I am a member of ACTRA (the Alliance of Canadian Cinema, Television and Radio Artists) and a graduate in improvisation from the Second City Training Centre. http://sheriffconsulting.com/
Provincial regulators of CPAs in Canada do not require that independent providers of CPD be approved to offer courses. Instead, individual CPAs are responsible for assessing whether a CPD activity meets their requirements, and may take activities from any source provided those requirements are met.
Every course offered on LearnFormula is delivered by a qualified subject matter expert or learning organization, and advances learning objectives that are relevant to the responsibilities or professional competencies of Canadian CPAs. All activities on LearnFormula are quantifiable in terms of hours, and are also verifiable, in that users receive documented evidence of their attendance via a certificate of completion after finishing a course (and this certificate is stored by LearnFormula indefinitely). Nearly 100,000 Canadian CPAs successfully satisfy their CPD requirements via LearnFormula on an annual basis.
Excellent presentation and very useful tips
Good insight on how the auditing teams are working with clients with the audits and the impact of COVID
Excellent recommendations and pointing out some of the flexibility available in the audit approach during these times.
Excellent content and delivery. I especially appreciate the acknowledgement of the external difficulties we as auditors are also facing and trying to balance in our lives right now while completing the audits.
