Audit Fundamentals
Audit Fundamentals is a podcast that explores the principles, standards, and real-world practices behind accounting and auditing. Each episode breaks down essential audit topics such as risk assessment, internal controls, audit evidence, financial reporting, and professional standards. Through practical conversations and clear explanations, it makes complex concepts easier to understand for listeners. The show is aimed at accounting and auditing professionals, students, and anyone wanting a clearer grasp of how audits work in practice.
Episodes
Audit Evidence
Not all evidence is created equal, and knowing the difference is what separates a workpaper that holds up from one that gets sent back. Meredith Mednick, CPA, walks through the full evidence framework: sufficiency and appropriateness, the reliability hierarchy, audit procedures, and how to connect the evidence you gather to the assertions you're actually testing. Grounded in a running cli
Audit Documentation
Good documentation is what stands between a clean sign-off and a review that never ends. Meredith Mednick, CPA, makes the case for why workpapers matter, walks through what the standards actually require, and gets specific about what good documentation looks like in practice versus what auditors too often turn in. Practical, direct, and built around the principle that if it isn't written
Audit Assertions
Audit assertions are the foundation of everything you do on an engagement, but ask ten auditors to explain them clearly and you'll get ten different answers. Meredith Mednick, CPA cuts through the noise with a plain-language walkthrough of the full framework: transaction-level and balance-level assertions, each anchored to a concrete example and connected directly to audit risk and proced
Audit Sampling
Audit sampling doesn't have to be intimidating. Meredith Mednick, CPA, CA breaks it down into plain language - when it applies, statistical versus non-statistical methods, sample sizing and selection, and evaluating your results. Grounded in a running client scenario, this episode is built for auditors who want to understand the standard, not just survive it.(00:00) - Busy Season Panic
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