8 Other Assurance Engagements Related to OCS: 8500, 8600, 9100 Financial Statements Notes on Auditing A Small Business Reviews M&N (Jones) Compilations Monday Small Business Audits Mar. 2 Treading the Thin Line Due Diligence Engagements Cowperthwaite, 2012) Learning Objectives: O Minimize Risks (Cowperthwaite, Understand and analyze the risks Friday 2013) associated with conducting compilations Feb. 27 and reviews Understand the reviews and compilations Case: Knopa’s Kaberet standards and determine when engagements are appropriate Other: Review Chapter 20, Arens Understand the audit issues and risks unique to Small Entities Textbook Identify and analyze audit and control CW: Session 8 Slides issues unique to Small Entities and develop appropriate audit strategy to address those issues Other Assurance Engagements and 9 A Practical approach to Fraud Risk Assurance Providers (Lister, 2007) Internal Audits M&N Monday And one for me (Wells, 2002) Compliance Audits Mar. 9 Fraud and Forensic Audits Control cash-register thievery Learning Objectives O Develop and apply extended audit Fraud Examination Case: Friday Case: procedures for detecting Crafty Cash Theft? Mar. 6 misappropriation of assets. Develop and apply audit procedures for compliance audits. Case: Bloomington University Identify and be able to explain the various categories of fraud CW: Session 9 Slides Compare and differentiate between the purpose of a financial statement audit and a forensic audit
8 M&N Monday Mar. 2 O Friday Feb. 27 Other Assurance Engagements Related to Financial Statements Reviews Compilations Small Business Audits Due Diligence Engagements Learning Objectives: Understand and analyze the risks associated with conducting compilations and reviews Understand the reviews and compilations standards and determine when engagements are appropriate Understand the audit issues and risks unique to Small Entities Identify and analyze audit and control issues unique to Small Entities and develop appropriate audit strategy to address those issues OCS: 8500, 8600, 9100 Notes on Auditing A Small Business (Jones) Treading the Thin Line Cowperthwaite, 2012) Minimize Risks (Cowperthwaite, 2013) Case: Knopa’s Kaberet Other: Review Chapter 20, Arens Textbook CW: Session 8 Slides 9 M&N Monday Mar. 9 O Friday Mar. 6 Other Assurance Engagements and Assurance Providers Internal Audits Compliance Audits Fraud and Forensic Audits Learning Objectives Develop and apply extended audit procedures for detecting misappropriation of assets. Develop and apply audit procedures for compliance audits. Identify and be able to explain the various categories of fraud Compare and differentiate between the purpose of a financial statement audit and a forensic audit A Practical approach to Fraud Risk (Lister, 2007) And one for me (Wells, 2002) Control cash-register thievery Case: Fraud Examination Case: Crafty Cash Theft? Case: Bloomington University CW: Session 9 Slides