Those of you expecting to become Franchise Tax or IRS auditors will find this course to be equally useful. Also, while many of you may never become auditors, most of you will deal with them sometime in your life. You will have an advantage because of your understanding of how auditors think and the audit process. All will find the concepts discussed here valuable in providing a structured framework for decision making. The primary objective of the course is to understand the auditors decision-making process.
Auditors accumulate and evaluate evidence about management's implicit assertions.
An auditor then would accumulate evidence about the completeness of the reported sales and their valuation. Depending then on the engagement type, circumstances and assertions, it is the auditors task to determine the nature, timing, and amount of evidence to accumulate and then to evaluate that evidence. Also, since evidence types differ in their persuasiveness, this must be considered as well. External auditors and accountants provide, among other things, compilation, review, and audit services. These services reflect different levels of assurance or non- assurance.