Audit Fundamentals

Published by Meredith Mednick

Education
Business

Audit Fundamentals explores the principles, standards, and real-world practices behind accounting and auditing. Each episode breaks down essential audit topics — including risk assessment, internal controls, audit evidence, financial reporting, and professional standards — through practical conversations and clear explanations that make complex concepts easier to understand.

Listen on Apple Podcasts

Recent episodes

Audit Assertions

Jul 29, 2026

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 procedure design. Whether you're building the foundation or filling in the gaps, this episode makes the framework click. Connect with Meredith LinkedIn: https://www.linkedin.com/in/meredithmednick/ Earn CPE for Listening to This Podcast https://www.earmark.app/ This podcast is a production of Earmark Media

Audit Sampling

Jun 27, 2026

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 (02:28) - What Sampling Is (04:37) - When Sampling Applies (05:58) - Meet Maple Ridge (06:50) - Statistical vs Judgmental (10:08) - How to Select Items (13:16) - How Big a Sample (16:50) - Midpoint Recap (18:10) - Execute the Sample (20:53) - Evaluate Misstatements (23:54) - Sampling Risk Explained (25:55) - Document It Right (27:58) - Impact on Audit Opinion (29:22) - Key Takeaways (31:24) - Where to Learn More (32:20) - Wrap Up and CPE Connect with Meredith LinkedIn: https://www.linkedin.com/in/meredithmednick/ Earn CPE for Listening to This Podcast https://www.earmark.app/ This podcast is a production of Earmark Media

Thanks for Subscribing

May 29, 2026