Audit & Assurance: Staff Three
In the third installment of our comprehensive four-part Audit Staff training series, both seasoned professionals and emerging in-charge auditors will delve deeper into intricate realms such as investments, intangible assets, goodwill, and other complex domains. This expanded expertise is pivotal for aspiring audit staff members seeking success and a well-rounded skill set.
Discover the art of applying best practices to tackle progressively advanced audit topics and delve into the thematic areas that set apart a proficient audit professional.
Within this third training session, tailored for both experienced staff and fresh in-charge personnel, you'll delve into the following subjects:
- Mastery of Engagement Management and Supervision
- Navigating Research Tools, including the utilization of ChatGPT
- Proficient Audit Risk Assessment
- Crafting Effective Auditing Procedures
- Finesse in Workpaper Review
- Profound Understanding of Audit Sampling for Internal Control Testing
- Insight into Audit Sampling for Substantive Sampling
- Proficiency in Auditing Revenue
- Skill in Auditing Contingent Liabilities
- Assessing Going Concern
- Expertise in Auditing Investments
- Proficiency in Auditing Intangible Assets and Goodwill
Who Stands to Gain:
- Seasoned Staff Members
- Novice In-Charge Auditors
- Audit Firms Seeking Consistent Training and Standardization
Each attendee will receive 12 Auditing CPE Event Hours (YB). A certificate of completion will be provided.
Details on Event Presentation
Offered on Wednesday-Thursday once every six weeks in two six hour sessions for 12 CPE credits.
The sessions will run from 9:00 a.m. to 3:00 p.m. Central Time Zone. There will be a lunch break from 12:00 noon to 12:30 p.m. each day.
We can schedule private events on your timetable for two or more attendees.
CPE Event Highlights
- Auditor responsibilities
- Risk assessment
- Engagement management and supervision
- Working paper review
- Sampling and sampling substantive sampling as concepts
- Auditing revenue
- Auditing contingent liabilities and going concern
- Auditing investments
- Auditing intangible assets and goodwill
- Research tools
Learning Objectives
Improve the effectiveness of attendees by:
- Identify and perform the core responsibilities of the in-charge auditor, including materiality, risk assessment, and audit strategy.
- Effectively test controls, including gathering evidence of effectiveness, assessing deficiencies, and communicating findings.
- Design and perform substantive procedures, including substantive analytical procedures, and substantive tests of details.
Key Issues on the Agenda
Introductions
Session 1: Introduction to Leading an Audit Team- Leadership Fundamentals
- Audit Team Dynamics
- Auditing planning and strategy
- Delegation and follow-up
Session 2: Risk Management
- Researching Audit Risks
- Materiality
- Resaonable Assurance
- Inherent Risk
- Residual Risk
Session 3: The Regulatory Environment
Session 4: Audit Workpaper Development
- Audit procedures creation
- Audit evidence documentation
- Quality control and review
Session 5: Audit Sampling and Testing Execution
- Internal Control Testing
- Substantive Testing
Session 6: Critial Audit Matters and other issues
- CAMs from the PCAOB standpoint
- Going conern
- Audting revenue
- Contingent liabilties
- Investments
- Intangible assets and goodwill
Session 7: Summary and Wrap-Up
- Your Keys to Success!
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: 12, based on 50 minutes of instruction per hour
Summary of the Subject Matter
This CPE event is designed to provide participants with the knowledge and skills to perform effective financial audits. The seminar covers topics such as:
- The audit process and the role of the auditor
- The audit risk model and the concept of materiality
- The audit evidence and the audit procedures
- The audit documentation and the audit report
- The ethical and professional standards for auditors
The CPE event is suitable for auditors who have completed staff level one and two training, or have equivalent experience. It is also beneficial for those who want to refresh their audit skills and update their audit skills knowledge.