The Financial Statement Audit Process

On-Demand Webinar:

StreamedAug 21, 2019Duration90 minutes

Unlimited & shareable access starting two business days after live stream
Available on desktop, mobile & tablet devices 24/7
Take-away toolkit
Ability to download webinar video
Presenter's contact info for questions

What’s involved in auditing financial statements? What do auditors consider and how do they use the Call Report? This session will cover a lot of ground, starting with an independent auditor’s objective and concluding with a better understanding of how audit reports are created. Topics will include:

How audit risks are assessed and how internal controls are evaluated
Audit tools and required communications
Use of Call Reports by external audit firms
Best practices when dealing with auditors

Attendance certificate provided to self-report CE credits.

HIGHLIGHTS

Knowing the independent auditors’ objective
Fraud risks and fraud statistics
Consideration of information technology and internal control testing
Evaluating the work of internal audit
Using data analytics to your advantage
Identifying key Call Report information used by your independent auditor to evaluate risk, design audit procedures, and determine the price of your credit union’s audit
TAKE-AWAY TOOLKIT
- Important links to the 2018 Association of Certified Fraud Examiners’ (ACFE) Report to the Nations, EY’s The Role of Data Analytics in Fraud Prevention, and NCUA’s Credit Union Online website, including upcoming cycle due dates, FAQs, forms, instructions, and Call Report access
- Employee training log
- NEW – Interactive quiz

WHO SHOULD ATTEND?

This informative session is designed for credit union internal auditors, management, and volunteers who want a better understanding of the financial statement audit process, including how Call Reports are used by your independent auditor.