"Walkthroughs? Why are we talking about walkthroughs? I'm conducting a substantive audit!" Unfortunately, many audit teams think this way, especially those not conducting a PCAOB audit. However, as you'll learn in this course, every audit requires auditors to evaluate the design and implementation of the controls identified, and the way we document our procedures is, you guessed it, a walkthrough!

In this CPE-capable (1.5 CPE) eLearning course, you will learn about the different controls within the control activity component of an organization's internal control system. We will then discuss how to identify these relevant or important controls, as for these identified controls, we will need to evaluate the design and implementation (D&I) by conducting risk assessment procedures. Finally, we will learn about walkthroughs, specifically what they are, the key elements and how they are documented by auditors.

This course is based on the revised guidance in SAS 145, Understanding the Company and its Environment and Assessing the Risk of Material Misstatement, which is codified in Section 315 of the AU-C. If you are an auditor who audits financial statements in accordance with the auditing standards of the Public Company Accounting Oversight Board (PCAOB), the United States Generally Accepted Auditing Standards (US GAAS), or the International Standards of Auditing (ISAs), this course, which is part of the Internal Controls – The Basics course collection, is a must-take.

Take our eLearning self-study course here: https://revolution.gaapdynamics.com/learn/course/external/view/elearning/530/evaluating-the-design-and-implementation-of-identified-controls

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