Audit & Assurance: Staff Four - In-Person
During the forth session of the four-part comprehensive Audit Staff training events, experienced in-charge staff can enhance their professional skillset and rounding out a comprehensive knowledge of financial auditing.
The senior auditor attending this event will finish their exposure to best practices on increasingly advanced audit topics. This event explores complex topics including revenue recognition, income taxes, estimates and fair value, financial reporting, and the auditor's report.
Focused on the in-charge senior auditor
You can master the tradecraft for your current position and prepare for future audit management challenges by understanding the contents of this training program:
- Engagement Management and Supervision
- Risk Assessment and Advanced Internal Control Considerations
- Auditing Revenue Recognition
- Auditing Deferred Income Taxes
- Auditing Estimates and Fair Value
- Using a Service Organization and the Use of a Specialist
- Overview of Financial Reporting
- Concluding the Audit - Reporting and Engagement Administration
Professionals who will benefit by attending are new in-charge and experienced audit staff with more than two to three years of audit experience.Each attendee will receive 16 Auditing CPE Hours (YB). A certificate of completion will be provided.
Details on Event Presentation
The in-person sessions will be as follows:
Tuesday – 9:00 a.m. to 5:00 p.m.
Wednesday - 9:00 a.m. to 5:00 p.m.
We can schedule private in-person events on your timetable for two or more attendees.
CPE Event Highlights
- Audit risk assessment
- Engagement management and supervision
- Auditing revenue recognition
- Auditing estimates and fair value measurements
- Complex topics including pensions, leases, equity, and income taxes Using a service organization
- Internal controls over financial reporting (ICFR)
- Concluding the financial audit
Learning Objectives
Improve the effectiveness of attendees by:
- Knowing the basics of internal control Identify key concerns related to fraud
- Understand the purpose and procedures of analytical procedures and their role in an audit.
- Recognize the potential of audit data analytics and their effectiveness in specific areas.
- Identify typical audit procedures assigned to new staff
Key Issues on the Agenda
Introductions
Session 1: Audit Planning and Tactics- Audit risk assessment
- Audit plan Setting objectives
- Defining the scope
Session 2: Team Leadership and Staff Development
- Know the client
- Know yourself
- Know your team and firm management
- Team dynamics
Session 3: Audit Field Work
- Audit program
- Audit analytics
- Internal controls testing
- Quality control and workpaper reviews
- Client interaction
Session 4: Critical Audit Matters
- Revenue Recognition
- Deferred Income Taxes
- Estimates and Fair Value
- Service Organizations
- Use of a Specialist
- Consideration of Fraud Financial Reporting
Session 5: Engagement Management During the Financial Audit
- Maintaining independence
- Professional skepticism
- Due professional care
- Regulatory compliance
- Conflict resolution and problem solving
- Time and resource management
Session 6: Audit Technology and Tools
- Audit project management
- Audit workpaper management tools
- Audit sampling tools
- AI usage
Session 7: Concluding the Financial Audit
- Client management
- Engagement quality review
- Evaluating aduit results
- Unqualified opinion
- Quallified opinon
- Interim reviews
Session 8: Summary and Wrap-Up
NASBA Program Disclosure
Program Level of Understanding: Intermediate
Prerequisites: None
Advance Preparation: None
Delivery Format: Seminar (Group-Live)
NASBA Field(s) of Study: Auditing
CPE Credits: 16, based on 50 minutes of instruction per hour
Summary of the Subject Matter
This in-person CPE training event is the fourth in a comprehensive training program for audit staff members. The program aims to provide auditors with the essential knowledge and skills for conducting effective and efficient audits in various domains. The program covers topics such as:
- Audit fundamentals and the role of staff auditors in the audit process
- Auditing standards and regulations applicable to different types of audits
- Audit risk assessment and audit planning techniques
- Audit evidence and documentation requirements
- Audit testing and sampling methods
- Audit reporting and communication skills
- Audit quality control and improvement
The in-person program is designed for experienced auditors who want to enhance their professional competence and confidence. The program offers 16 CPE hours for each session and a certificate of completion.