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| Name | Auditing 101 | Part 2: Risk Assessment, Assertions, and Materiality | Maxwell CPA Review |
| Video Uploader | Video From Maxwell CPA Review |
| Upload Date | This Video Uploaded At 31-07-2022 20:00:19 |
| Video Discription | This video unpacks the crucial concept of risk assessment in auditing, explaining how it guides auditors to focus on high-risk areas and ensure financial statement accuracy. We explore the audit risk formula, different risk assessments, types of audit tests, management assertions, and how materiality helps determine significant errors for financial statement users. This video is valuable for accounting students, aspiring auditors, and anyone interested in financial statement accuracy. FREE PREVIEW of My Comprehensive Audit Course: https://courses.maxwellcpareview.com/courses/AUD Video Chapters: 0:00 – Why Do We Need Risk Assessment? 1:06 – Audit Risk Formula 5:18 – Assessing the Risk of Material Misstatement 6:29 – What are Substantive Procedures? 7:28 – Testing Internal Controls 8:25 – Management Assertions 11:15 – Materiality ✨ 𝗝𝗼𝗶𝗻 Maxwell CPA Review ✨ www.youtube.com/@MaxwellCPAreview 🍁 𝗔𝐛𝐨𝐮𝐭 Maxwell CPA Review🍁 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! 📌𝗖𝗛𝗘𝗖𝗞 𝗢𝗨𝗧 𝗢𝗧𝗛𝗘𝗥 𝗩𝗜𝗗𝗘𝗢𝗦 ➡️How I Scored a 95 on the FAR Exam | 4 Must-Know Topics 🔗https://youtu.be/oUhNq58IyvY ➡️How Long are the CPA Exams? 2024 Exam Structure 🔗https://youtu.be/ohKq-JED-6Y ➡️2024 CPA Exam Score Release Dates | Testing Windows 🔗https://youtu.be/dBSyibyNhuc ➡️Master the 2024 TCP Discipline Exam: Complete Topic Breakdown 🔗https://youtu.be/oM9T8rH67_s 𝗖𝗵𝗲𝗰𝗸 𝘂𝘀 𝗼𝘂𝘁 𝗼𝗻 𝘀𝗼𝗰𝗶𝗮𝗹 𝗺𝗲𝗱𝗶𝗮: Instagram: http://instagram.com/maxwellcpareview/ Facebook: http://facebook.com/MaxwellCPAReview/ 𝗧𝗵𝗮𝗻𝗸𝘆𝗼𝘂 𝗳𝗼𝗿 𝘄𝗮𝘁𝗰𝗵𝗶𝗻𝗴: Auditing 101 | Part 2: Risk Assessment, Assertions, and Materiality | Maxwell CPA Review #auditing #financialaudit #accounting #internalcontrols #financialstatements #auditprocedures #cashaudit #inventoryaudit #araging #subsequentcollectiontesting #fixedassetaudit #notespayable #legalinquiryletter #riskassessment 𝗥𝗲𝗹𝗮𝘁𝗲𝗱 𝗦𝗲𝗮𝗿𝗰𝗵𝗲𝘀: |
| Category | Education |
| Tags | importance of financial statements | internal controls in accounting | audit risk formula explained | types of audit risk | management assertions explained | cpa exam audit section tips | how to assess audit risk | audit risk assessment | audit risk assessment techniques | how to perform an audit risk assessment | benefits of a strong audit risk assessment | internal controls for reducing audit risk | auditing 101 | part 2 | maxwell cpa review | risk assessment | assertions | materiality |
