Auditing in 2019: Techniques and Current Issues
Philip Cavey, CPA, CA, Partner at MNP, spoke about updates in auditing techniques. Auditing is a constantly changing field! Phil presented a first-hand account of what it means to be an auditor today. Participants learned about changing expectations, and the implications this has on financial statement users. Phil also spoke to some of the current techniques used in auditing, including detailed testing versus analytical approaches and some of the pros and cons of each. Lastly, participants heard about the four types of materiality, and how they are determined and employed in the audit approach.