CPA Auditing and Attestation (AUD)

Certified Public Accountant Auditing and Attestation examination.

Audit FundamentalsAudit Planning and Risk AssessmentInternal Controls
Audit Evidence and SamplingProfessional Ethics and IndependenceAudit Reports and Opinions
Auditing in Small BusinessesTechnology in AuditingFraud Detection and Prevention
Effective Multiple-Choice StrategiesTime Management on Exam DayMastering Simulations
Audit FundamentalsAudit Planning and R...Internal ControlsAudit Evidence and S...Professional Ethics ...Audit Reports and Op...Auditing in Small Bu...Technology in Auditi...Fraud Detection and ...Effective Multiple-C...Time Management on E...Mastering Simulation...
Practical Applications

Auditing in Small Businesses

Unique Challenges for Small Business Audits

Small businesses often lack complex internal controls or large accounting teams, making audits more hands-on.

Adapted Audit Procedures

Auditors may need to:

  • Spend more time reviewing source documents
  • Interview owners and staff directly
  • Focus on areas where segregation of duties is limited

Benefits for Small Businesses

Audits help small businesses:

  • Qualify for loans or investors
  • Detect fraud early
  • Improve their accounting systems

Real-World Tips

Communication and flexibility are key when auditing small organizations.

Examples

  • A small retailer’s audit includes detailed testing of daily cash receipts.

  • An auditor helps a family business design better inventory controls.

Next
Technology in Auditing