How to Audit Outsourced Functions

Evaluate the risks of outsourcing by applying a structured audit approach to third-party arrangements. This course explains how shifting processes to suppliers increases exposure and shows you how to investigate and report on those risks. You will learn why auditors must participate early in due diligence and contract development, and how to perform ongoing oversight. The course also addresses offshoring issues, reliance on others’ work, and other critical outsourcing concerns.
Format

PDF Course

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Duration

1 Hour

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Course Information

Author: Steven Bragg
Course Number: AU1026

Learning Objectives
  • Recognize those risks that may be amplified in an outsourcing arrangement.
  • Specify the audit steps used to audit outsourced functions.
  • Specify the areas in which the auditor can provide input during contract formulation.
  • Describe the different risk assessment areas relating to the audit of a supplier.
  • Recognize the types of third-party reports that an auditor can rely on when formulating audit procedures for an outsourcing arrangement.

Level: Overview
Instructional Method: QAS Self-Study
NASBA Category: Auditing
Prerequisites: None
Advance Preparation: None
Latest Review Date: December 2024
Program Registration Requirements: Click on the Enroll button to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.
Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

AccountingTools, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.