Twelve Rules for Auditors
Description: This course provides practical rules that auditors should follow to avoid auditing's most unpleasant outcomes. Specific attention to the following areas:
Experience/Prerequisites: Minimum to advanced level.
Who should attend: Partners and managers responsible for planning and supervision of engagements, as well as staff persons conducting those engagements.
Recommended CPE credit: 8 hours
Acronym: TRFA
- Rule 1 - Know Your Own Limitations
- Rule 2 - Tell the truth, especially about the tough issues
- Rule 3 - Recognize the shortcuts will ultimately lead to disaster
- Rule 4 - Spend whatever time is required to understand the entity's internal controls
- Rule 5 - Commit yourself to improvement daily
- Rule 6 - Take the time to do things right
- Rule 7 - Don't be afraid to ask for help
- Rule 8 - Never consider your client's management to be above wrongdoing
- Rule 9 - Beware the related parties
- Rule 10 - Follow the rules regarding confirmation
- Rule 11 - Pay attention to what matters, not what is expedient
- Rule 12 - Avoid dismissing analytical testing variances