Recommended experience 5-20 months
(key staff on large jobs and/or "in charge" on small jobs)
CPE Credit: 24 hours (16.5 Auditing, 4.5 Accounting, and 3 Professional Development)
Delivery Method: Group Live
Program Level: Intermediate
Prerequisites: None
Advanced Preparation: None
Objectives
Helps auditors assume more technical responsibility on audits. Introduces effective and efficient planning, and skills used in final fieldwork. Addresses the more complex and involved audit areas typically performed by experienced staff.
Major Modules
Role of the Experienced Auditor
AuditWatch 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 final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417. Web site www.nasba.org.
(key staff on large jobs and/or "in charge" on small jobs)
CPE Credit: 24 hours (16.5 Auditing, 4.5 Accounting, and 3 Professional Development)
Delivery Method: Group Live
Program Level: Intermediate
Prerequisites: None
Advanced Preparation: None
Objectives
Helps auditors assume more technical responsibility on audits. Introduces effective and efficient planning, and skills used in final fieldwork. Addresses the more complex and involved audit areas typically performed by experienced staff.
Major Modules
Role of the Experienced Auditor
- Challenges and roles for the experienced staff
- Overview of the complete audit process
- Understanding and using information throughout the audit
- Gaining an understanding of the entity and its environment
- Documenting the client's processes and related controls, including using walkthroughs
- Understanding the risk assessments, how to identify them, and their impact on the audit plan
- Performing quality analytical procedures
- Using analytical procedures on income statement accounts
- Performing tests of details such as judgmental or scope tests
- Performing non-statistical sampling test
- Addressing errors identified in tests of detail
- Identifying common estimates and accruals
- Designing and completing audit approaches to common estimates
- Accounting for revenue
- Designing auditng procedures for revenue and related accounts
- Introduction to required communications regarding deficiencies in internal controls
- How to identify value-added comments during an audit
- Introduction to the key segments of the financial statements, addressing the use and purpose of each and identifying the common mistakes and needed edits when preparing or proofing statements
- Understandinghow to prepare a Statement of Cash Flows; classifying transactions and putting a statement of cash flow together (direct and indirect)
- Learn the skill of creative thinking and problem solving to address common workplace situations
AuditWatch 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 final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417. Web site www.nasba.org.
