Auditing: Forming an Opinion

by Wayne Bartlett

One of the most important parts of the auditing process is the final opinion issued on the financial statements. Sometimes, that's all that stakeholders need to see. However, providing an opinion may not be straightforward. This course guides you through the process of forming an opinion.

price £75+vat
cpd hours 4 CPD hours
access 120 days' access

This course will enable you to

  • Define the objective for an audit
  • Take action when the financial statements aren't fairly presented
  • Recognise the situations that require a modified opinion and identify the appropriate type of modified opinion to provide

About the course

One of the most important parts of the auditing process is the final opinion issued on the financial statements. Stakeholders rely on the auditorís opinion. They want to know if the financial statements or reports accurately reflect the financial transactions and balances.

Straightforward though this objective may seem, it is also a process fraught with risk. Giving a misleading opinion may have serious consequences Ė both for the auditor and for many of the stakeholders. In this course, you will analyse the factors that should be considered when arriving at an audit opinion. It also covers the different types of audit opinion, when to use them, and the strategic implications of each one.

Look inside

imac
slide-1
slide-2
slide-3
slide-4
slide-5
slide-1-thumbnail
slide-2-thumbnail
slide-3-thumbnail
slide-4-thumbnail
slide-5-thumbnail

Contents

  • Forming an opinion
    • The auditor's job
    • The prime objective
    • Financial statements in the context of ISA 700
    • Special purpose frameworks
    • What the auditor is trying to achieve
    • Quality assurance
    • The importance of quality assurance
  • The format of the report and unmodified opinions
    • Strong opinions
    • The financial statements aren't fairly presented
    • The format of the audit report
    • ISA 700 and the audit opinion
    • A point to emphasise
    • The emphasis of matter paragraph
  • Modified opinions
    • Modified opinions
    • Modified opinions in the audit report
    • Appropriate modifications
    • Modified opinions
    • Limited audit
    • When management imposes limitations on the audit
  • Audit opinion modifications in more detail
    • The qualified opinion
    • The adverse opinion
    • Which opinion?
    • The disclaimer of opinion
    • The importance of ISA 701
    • ISA 701 and modified audit opinions

How it works

Author

Wayne Bartlett

Specialising in public sector financial management and budgeting, Wayne has worked as a consultant and lecturer throughout the world.

Reviews

Recommended

Why not upgrade?

Find the best way to complete your CPD

Course

Need just a few unitshourshours?

Pick n Mix

All you need for this year's CPD.

Licence

All you need for this year and more.

Team

Keep your whole team up to date.

Access to this course
Total CPD unitshourshours4 unitshourshours21 units20 hours21 hours800+ unitshourshours800+ unitshourshours
Access period120 days120 days12 months12+ months
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your teamís needs
Learn moreLearn moreLearn more
Recommended

Why not upgrade?

Find the best way to complete your CPD

Licence

All you need for this year and more.

Access to this course
Total CPD unitshourshours800+ unitshourshours
Access period12 months
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs
Learn more

Why not upgrade?

Find the best way to complete your CPD

Course

Need just a few unitshourshours?

Access to this course
Total CPD unitshourshours4 unitshourshours
Access period120 days
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs

Why not upgrade?

Find the best way to complete your CPD

Pick n Mix

All you need for this year's CPD.

Access to this course
Total CPD unitshourshours21 units20 hours21 hours
Access period120 days
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs
Learn more

Why not upgrade?

Find the best way to complete your CPD

Team

Keep your whole team up to date.

Access to this course
Total CPD unitshourshours800+ unitshourshours
Access period12+ months
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs
Learn more

Why not upgrade?

Find the best way to complete your CPD

Licence

Recommended

All you need for this year and more.

Access to this course
Total CPD unitshourshours800+ unitshourshours
Access period12 months
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs
Learn more

Course

Need just a few unitshourshours?

Access to this course
Total CPD unitshourshours4 unitshourshours
Access period120 days
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs

Pick n Mix

All you need for this year's CPD.

Access to this course
Total CPD unitshourshours21 units20 hours21 hours
Access period120 days
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs
Learn more

Team

Keep your whole team up to date.

Access to this course
Total CPD unitshourshours800+ unitshourshours
Access period12+ months
Audit-proof CPD completion certificate
Immediate access to our entire CPD catalogue
Exclusive news and CPD every week plus monthly webinars, all year round
Account manager on hand to support your team's needs
Learn more

You might also like

Take a look at some of our bestselling courses