With certain resources in short supply, it is more important than ever to time, money, and people on the areas of an audit with the highest risk and to take an overall approach that keeps in mind certain techniques for reducing cost. The purpose of this course is to discuss the various ways to save time and money by efficiently planning and executing audits.

The course delves into specific areas of auditing that could effect audit efficiency, with specific attention placed on issues, activities, and accounts most likely to be materially important in an audit.

The information is useful not only to auditors and to all professionals in audit firms, but also to managers, internal audit staff, and others involved with entities that require audits. All parties can benefits from keeping efficiency and profits in mind, along with some specific tasks and techniques for achieving such goals.

After successfully completing this course, students will be able to:

• recall staffing challenges faced by the accounting profession
• remember techniques and steps to take to reduce audit time and increase audit efficiency
• remember inventory-related auditing rules and recognize techniques to increase efficiency in auditing inventory
• identify specific company areas of activity and accounts that could be considered for less intensive audit procedures

Auditors, CPAs, audit firm management, company managers, internal audit staff, and others in any professional or business environment in which auditing is a component