AuditWatch University Level 1: Basic Staff Training

Course Details Duration: Four Days Prerequisite: 0-4 Months Experience (new auditors with no busy-season experience) Level of Instruction: Basic Delivery Method: Group-Live CPE Credits: 32 Credits (7 Accounting, 23 Auditing, 2 Communication) Advanced Preparation: None Registration: To register for a public course, visit our Course Schedules page. To inquire about In-House Training, or other questions, call 800.775.9866

This session helps new auditors get off on the right foot. It introduces them to the auditing field and basic auditing responsibilities. The course includes case studies on common audit areas and provides an overview of how each area fits into the big picture.

Learning Objectives by Module
After the session, participants should be able to:

Role of the Staff Auditor — 1 Credit (Auditing)

• Describe five characteristics and skills that are important to a staff person's success
  

Services and Responsibilities — 3 Credits (Auditing)

• Explain the differences between attest services and bookkeeping assistance
• Explain the differences in the purpose and scope of audits, reviews, and compilations
• List common audit objectives
• Describe acceptable types of audit evidence

Workpapers and Documentation — 1.5 Credits (Auditing)

• Explain the requirements of audit documentation
• Create, organize, and prepare audit workpapers

Introduction of the Audit Plan — 2.5 Credits (Auditing)

• Outline the basic components of an audit plan and describe a staff auditor's responsibilities for applying that plan
• Explain the fundamental purpose and five required components of understanding the entity and its environment
• Complete or participate in the completion of selected sections of key practice aids and work papers
  

Introduction to Internal Controls & Analytical Procedures — 4.5 Credits (Auditing)

• Assist in gaining an understanding of a client's internal control structure, including performing verification procedures such as walkthroughs and document inspections
• Perform previously designed substantive analytical procedures

Common Audit Areas — 16 Credits (9 Credits Auditing, 7 Credits Accounting)
(Cash, A/R, PP&E, Inventory, A/P, Debt)

• Identify and explain the basic audit risks within each listed area
• Perform common previously designed audit procedures in each area and explain how the procedures address documented risks and assertions

Information Gathering — 2 Credits (Communication)

• Create and track the status of client requests
• Describe an effective method for performing verbal inquiries with clients
• Plan for the gathering of information and evidence through the use of inquiry

Introduction to Public Accounting — 1 Credit (Auditing)

• Describe to clients and colleagues the nature and basic terminology of Public Accounting

Summary: Best Practices for Beginning Staff — 0.5 Credit (Auditing)

• List best practices discussed in the course
• Describe ways skills learned in this program will be applied in the upcoming year
   

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For more information regarding refund, complaint, and program cancellation policies, please contact our office at 800.775.9866.

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.