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    Auditing Financial Statements: Best Practices for Your Bank

    Thursday, February 1, 2018 - 1:00 PM - 2:00 PM ET
    $249.00
    *
    This webinar will reveal best practices to close the gap in understanding the importance of simple internal controls and a sound control environment. Join us to discover the secrets of top-notch financial statement auditing!

    Overview

    Many banks and credit unions rely on auditing staff and accountants to conduct an audit of the Institution's financial statements. The purpose of this audit is to determine the accuracy of the financial information prepared by your Institution. In other words, an audit enhances the value of financial information because it makes your Institution's statement more trustworthy and credible.

    Auditors are playing an ever-increasing role in pointing out issues with financial statements. With today's advanced technology, one would think that keeping abreast of best practices in auditing would be easy. However, it can be a time-consuming effort. 

    In this session, participants will discover how to improve their Institution's internal control system in relation to financial statements and internal audits. We will discuss how to optimize audit procedures in terms of limited time, human, and financial resources. 

    This webinar will reveal best practices to close the gap in understanding the importance of simple internal controls and a sound control environment. You will learn how accounting staff plan and execute an audit, beginning with an overview of the financial statement audit itself. Join us to discover the secrets of top-notch financial statement auditing!

    Covered Topics

    • Discover the purpose and nature of a financial statement audit
    • Identify the players and the expansive role of the audit committee
      • Define responsibilitity levels of managers and auditors within your Institution
    • Understand the 6 phases of the financial statement audit process
    • Review Quality system and legal compliance audit checklists
    • Analyze Audit procedures for income statements, revenue, fraud detection, cash procedures
    • Discuss Reporting - audit opinion preparation best practices
    • Increase effectiveness of external audit from the point of view of human resources allocation, and time and financial resource optimization
    • Learn to Analyze external audit results
    • Build effective interaction of external and internal audit procedures
    • Solidify received knowledge through practical examples

    Who Should Attend? 

    This informative session is designed for Auditing staff, Accounting and Reporting managers, Finance Managers, Treasury staff, CFOs, Cash Flow managers, and anyone interested in streamlining and improving the audit process.

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    Overview

    Many banks and credit unions rely on auditing staff and accountants to conduct an audit of the Institution's financial statements. The purpose of this audit is to determine the accuracy of the financial information prepared by your Institution. In other words, an audit enhances the value of financial information because it makes your Institution's statement more trustworthy and credible.

    Auditors are playing an ever-increasing role in pointing out issues with financial statements. With today's advanced technology, one would think that keeping abreast of best practices in auditing would be easy. However, it can be a time-consuming effort. 

    In this session, participants will discover how to improve their Institution's internal control system in relation to financial statements and internal audits. We will discuss how to optimize audit procedures in terms of limited time, human, and financial resources. 

    This webinar will reveal best practices to close the gap in understanding the importance of simple internal controls and a sound control environment. You will learn how accounting staff plan and execute an audit, beginning with an overview of the financial statement audit itself. Join us to discover the secrets of top-notch financial statement auditing!

    Covered Topics

    • Discover the purpose and nature of a financial statement audit
    • Identify the players and the expansive role of the audit committee
      • Define responsibilitity levels of managers and auditors within your Institution
    • Understand the 6 phases of the financial statement audit process
    • Review Quality system and legal compliance audit checklists
    • Analyze Audit procedures for income statements, revenue, fraud detection, cash procedures
    • Discuss Reporting - audit opinion preparation best practices
    • Increase effectiveness of external audit from the point of view of human resources allocation, and time and financial resource optimization
    • Learn to Analyze external audit results
    • Build effective interaction of external and internal audit procedures
    • Solidify received knowledge through practical examples

    Who Should Attend? 

    This informative session is designed for Auditing staff, Accounting and Reporting managers, Finance Managers, Treasury staff, CFOs, Cash Flow managers, and anyone interested in streamlining and improving the audit process.

    Presenter:

    Mike Morley

    A Certified Public Accountant, business author Mike Morley is an entertaining and informative speaker and a recognized authority in the field of finance and credit.

     

    Mike offers various training programs, such as IFRS, SOX, and Financial Statement Analysis, as well as Management Skills topics that focus on providing continuing education opportunities for finance and accounting professionals.

     

    Many Fortune 500 companies take advantage of his training programs to bring their staff up to speed so that everyone understands what their responsibilities are.

     

    Mike is the author of several books, including:

     

    “Credit & Credit Repair for Canadians”, which explains how the Canadian credit industry works and shows consumers and small business owners how to take control of their finances and protect themselves from identity theft.

     

    “IFRS Simplified”, which provides a jump start for accountants and finance executives who want to quickly and easily get up to date on IFRS.

     

    Sarbanes-Oxley Simplified,” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.

     

    “Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.