Audit & Assurance: Staff One - In-Person
During the first session of the four-part comprehensive Audit Staff training events, newly onboarded staff members will receive fundamental knowledge essential not only for their initial engagements but also for their entire professional journey.
This program aims to lay the foundation for successful auditors and valuable members of the firm. It begins by presenting the audit process from a firm-oriented perspective rather than a purely academic viewpoint. Participants will gain insights into both in-firm and client dynamics, emphasizing the pivotal blend of core knowledge and interpersonal skills crucial for a long-lasting career in auditing. Beyond equipping auditors with the tools for early achievements within the firm, this course introduces concepts that are vital for continuous career growth. The rationale behind auditing standards and key accounting principles are explored in depth.
This Continuing Professional Education (CPE) training event is meticulously crafted to offer a comprehensive panorama of financial auditing practices in the United States. It spans a diverse array of subjects, encompassing the regulatory landscape, auditing standards, risk evaluation, audit planning and execution, as well as nurturing the interpersonal skills essential for staff auditors.Participants will delve into the pivotal role of staff auditors within audit teams, comprehending their significance and objectives.
The training event delves into the spectrum of auditing standards pertinent to the financial auditing sector, encompassing those set forth by the AICPA and PCAOB. The intricacies of risk assessment in auditing, including risk identification, assessment, and strategic response, will also be expounded upon.The training event methodically guides attendees through the intricacies of audit planning and execution, elucidating facets like audit scope, objectives, procedures, and the eventual reporting process.
Armed with this knowledge, coupled with insights from our offering "Auditing & Assurance: Staff One," tailored for new staff, first-year audit team members will possess the requisite skills to adeptly carry out tasks characteristic of their level of 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 basics
- New auditor’s role in an engagement
- Key communication skills
- Working papers and documentation
- Audit risk model
- Professional Skepticism
Learning Objectives
Improve the effectiveness of attendees by:
- Understand the purpose of a financial audit.
- Understand the phases of a financial audit and the different types of procedures performed during each phase.
- Understand the functions of common working papers, including the trial balance, lead sheets, and financial statements.
- Identify key soft skills and techniques of interpersonal behavior and communication.
- Recall the basics of the audit risk model, including assertions.
- Identify the purpose and importance of audit documentation and the fundamental audit principles and their application.
Key Issues on the Agenda
Introductions
Session 1: Introduction to Financial Auditing- Importance of external financial auditing
- Objectives of independent financial auditing
- Types of engagements & audits
- Differences between internal and external auditing
Session 2: Audit Risk Model
- Materiality
- Resaonable Assurance
- Inherent Risk
- Control Risk
- Detection Risk
Session 3: The Regulatory Environment
- Overview of regulatory bodies in the USA
- Roles of regulatory bodies
Session 4: Auditing Standards
- Overview of auditing standards in the USA
- Standards established by the AICPA
- Standards established by the PCAOB
Session 5: Financial Audit Planning and Execution
- The audit team
- Steps involved in audit planning
- Audit scope and objectives
- Audit procedures
- Audit evidence
- Evaluation of audit evidence
- Audit reporting
Session 6: Soft Skills
- Interviewing using S.P.I.N. Methodology
- Written Communications
- Relationship Building
- Subject Matter Experts
- Continuous knowledge gain
- Heathly Professional Skepticism
Session 7: Summary and Wrap-Up
- Recap of financial auditing industry
- Your Keys to Success!
NASBA Program Disclosure
Program Level of Understanding: Basic
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 comprehensive Continuing Professional Education (CPE) event, the first in a series of four, is specially designed for newly onboarded audit staff members. It offers them a fundamental knowledge base that is not only crucial for their initial assignments but also for their entire professional journey.
The program's primary objective is to establish a solid foundation for successful auditors who will contribute significantly to the firm's growth. It takes a practical approach by presenting the audit process from a firm's perspective, bridging the gap between theory and real-world application. Participants will gain insights into the dynamics of both internal firm operations and client interactions, highlighting the essential combination of technical knowledge and interpersonal skills essential for a sustainable auditing career. Going beyond immediate success within the firm, this course introduces concepts vital for continuous professional advancement, including an in-depth exploration of auditing standards and key accounting principles.
Crafted with precision, this CPE training event offers a comprehensive overview of financial auditing practices in the United States. It encompasses a wide range of topics, including regulatory frameworks, auditing standards, risk evaluation, audit planning and execution, and the development of interpersonal skills essential for staff auditors. Attendees will gain a deep understanding of the pivotal role staff auditors play within audit teams and their associated responsibilities.
The training event delves into the spectrum of auditing standards pertinent to the financial auditing sector, incorporating those established by renowned bodies such as the AICPA and PCAOB. It also intricately explains the process of risk assessment in auditing, covering risk identification, assessment, and strategic response. The event provides a methodical guide to audit planning and execution, clarifying aspects such as audit scope, objectives, procedures, and the subsequent reporting process.
Equipped with this comprehensive knowledge, supplemented by insights from our tailored offering "Auditing & Assurance: Staff One," designed for new staff, first-year audit team members will possess the necessary skills to proficiently carry out tasks aligned with their level of experience.
Upon completion of the event, each attendee will be awarded 12 Auditing CPE Hours (Yearly Basis). A certificate of completion will be granted to acknowledge their participation and accomplishment.