WEB-BASED NEW HIRE TRAINING Basic audit training without the travel!

For in-house and custom options, call 800.775.9866.

This course is a series of AuditWatch University Level 1 modules designed for new auditors and delivered on WebEx, a web-based, interactive learning platform. The course includes live instruction by an AuditWatch instructor over the web combining lecture, interactive exercises, discussion and homework to be performed after each session. The course covers topics most important for new staff at an audit firm.

At the end of each session, individual exercises will be assigned for reinforcement of learning objectives. Estimated homework time is 30 minutes—1 hour following each session. Homework will be reviewed and questions will be answered at the beginning of the next session. CPE credits are not awarded for time spent outside the live-instructed sessions.

CPE CREDIT: 16 credits

DESIGNED FOR: New auditors with 0 – 6 months experience.

MAJOR TOPICS:

Services and Responsibilties

• 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

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

Introduction to the Audit Plan

• 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

• 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 (e.g. Cash, A/R, Property, Plant & Equipment, 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

Professionalism in Public Accounting

• List key characteristics of successful professionals in public accounting and tips for achieving success

AVAILABLE AS: In-house (sale to firm) program

CUSTOMIZATION AVAILABLE: This course can be modified to meet firm specific needs. Modules can also be combined to create longer sessions.