Auditing 101 | Part 1: Starting the Audit: A Guide for CPAs & Aspiring Auditors | Maxwell CPA Review

This video launches a series unpacking the entire audit process for CPA exam takers and aspiring auditors. We'll cover everything from accepting clients and crafting engagement letters to planning the audit, using analytical procedures, and understanding internal controls. You'll also learn how to leverage the work of internal auditors, specialists, and component auditors. Check out the description below for a free preview of our comprehensive Audit Review Course that dives deeper with real-world examples and practice questions!

VideoChapters:
0:00 - Intro
0:41 – What’s the Purpose of an Audit?
1:21 – Client Acceptance
3:41 – Engagement Letter
5:26 – What are Working Papers?
6:13 – Sufficient and Appropriate Audit Documentation
6:36 – Nature, Extent, and Timing of Audit Procedures
7:38 – Audit Strategy vs Audit Plan
8:28 – Analytical Procedures
9:00 – Understanding the Client’s Business and Industry
9:25 – Understanding Internal Controls
10:22 – Who is the Predecessor Auditor?
11:17 – Using the Work of Others

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Our goal at Maxwell CPA Review is to help you thrive in your accounting studies. Whether you're struggling through a college accounting course or are pursuing the CPA exams, we want to help these confusing concepts finally make sense!

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𝗖𝗵𝗲𝗰𝗸 𝘂𝘀 𝗼𝘂𝘁 𝗼𝗻 𝘀𝗼𝗰𝗶𝗮𝗹 𝗺𝗲𝗱𝗶𝗮:

𝗧𝗵𝗮𝗻𝗸𝘆𝗼𝘂 𝗳𝗼𝗿 𝘄𝗮𝘁𝗰𝗵𝗶𝗻𝗴: Auditing 101 | Part 1: Starting the Audit: A Guide for CPAs & Aspiring Auditors | Maxwell CPA Review

#auditing #financialaccounting #accountingstudents #financialstatements #cpaexam #clientacceptance #engagementletter #auditplanning #analyticalprocedures #internalcontrols #internalaudit #specialists #componentaudits

𝗥𝗲𝗹𝗮𝘁𝗲𝗱 𝗦𝗲𝗮𝗿𝗰𝗵𝗲𝘀:
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common audit exam questions
auditing 101 | part 1
starting the audit
a guide for cpas aspiring auditors
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[trendaddict]

Just passed Far! I’m going to watch this series of audit of yours to have like an overview of the material before I start fully studying with my course. Thanks for the vids!

[sibekisomotsa]

00:14
Thank you very much for your clear and illustrative explanation and analysis of the Audit class. It is a great help in the current application of Audit work.

[varunv]

Hi Kyle Ashcraft, Hope you’re doing well. Appreciate your initiative for making series of Video on Audit part of CPA Exam. I personally can understand very well the concepts by your seamless way of explaining the concepts. Thank You. Love for you from India 😊

[NurFatimahShahirah]

Thank you so much for creating this video

[Monika-npdd]

one suggestion from my side please use wight board to explain!

[akulaharichandnarau]

Hey….. I just love this video .
With loads of love from Harichandana, India

[talosanconsultingfirm]

Thanks for sharing this helpful information.
I feel comfortable the way you explain the lesson.
Thanks you deserve millions of like and follows
Thanks again

[kristian]

i work with Auditors, but i am a not a auditor, and i am here to learn what my coworkers actually do, lol.

[gm]

Is this the same in the UK? Also, thank you for such a clear explanation. This will help in my graduate scheme interviews.

[chernoii]

Thank you for your VDO. May I have one question? Is this for only external audit? How to apply for internal audit? Please suggest me.

[SamuelArega-official]

Please tell me how the internal auditor minimize risk and fraud in Banking industry?

[JulianaSannoh]

Am a auditing student so i want to lan more about the cause