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Audit & Assurance: Staff Two - In-Person

Audit & Assurance: Staff Two - In-Person

During the second session of the four-part comprehensive Audit Staff training events, first year staff can enhance their skillset by reviewing internal control frameworks, analytical procedures and substantive testing.


Are you a first-year audit staff member looking to enhance your skills and excel in your role? Look no further. Our Audit & Assuranc: Staff Two in-person event is designed to equip you with the foundational knowledge and practical skills needed for success in the auditing field. Whether you are handling internal controls, delving into fraud considerations, or mastering analytical procedures, this course is tailored to help you thrive. Join us on your audit learning journey!


Building Audit Knowledge


As you embark on your journey in auditing, a strong fundamental understanding of audit concepts is essential. Staff Two focuses on the skills and knowledge required for common tasks assigned to first-year audit staff.


The Essentials


This in-person event takes a hands-on approach, immersing you in the audit process with practical training.


Topics covered in Staff Two include:

  • Introduction to Internal Controls
  • Fundamentals of Using Data Analytics in an Audit
  • Fraud Considerations - Know Your Client
  • Auditing Cash and Cash Equivalents
  • Auditing Accounts Receivable and the Allowance for Doubtful Accounts
  • Auditing Inventory and Inventory Valuation
  • Auditing Prepaid and Other Current Assets
  • Auditing Property, Plant, and Equipment
  • Auditing Accounts Payable and Accrued Expenses
  • Auditing Debt


Starting Your Career Right


By complementing Staff Two, you'll lay a strong foundation for a successful career as an auditor and a valuable team member.


Each attendee will receive 16 Auditing CPE Event Hours (YB). A certificate of completion will be provided.

  • Details on Event Presentation

    The in-person sessions will be as follows:

    Thursday – 9:00 a.m. to 5:00 p.m.

    Friday - 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

    • Understanding the Audit Team
    • COSO Internal Control Framework
    • Information Technology General Controls
    • Fraud considerations
    • Analytical procedures
    • Basic auditing procedures
  • 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


    Session 1: The Audit Team

    • Engagment Partner
    • Quality Assurance
    • Manager/Supervisor/Senior
    • The Role of the Staff

    Session 2: Introduction to COSO Internal Control Framework

    • Risk Assessment
    • Tone at the Top
    • Control Activities
    • Information and Communications
    • Monitoring

    Session 3: Information Technology General Controls

    • Risk Assessment
    • IT Governance
    • Day to Day Information Security
    • Internal Controls over Financial Reporting Process

    Session 4: Data Analytics

    • Analytics in the Audit Planning Process
    • Analytics During Audit Field Work
    • Analytics at Year-End

    Session 5: Fraud Considerations During the Financial Audit

    • Know Your Client
    • Understanding the Business Model
    • Segregation of Duties

    Session 6: Financial Audit Procedures

    • Cash and Cash Equivalents
    • Accounts Receivable and the Allowance for Doubtful Accounts
    • Inventory and Inventory Valuation
    • Prepaid and Other Current Assets
    • Property, Plant, and Equipment
    • Accounts Payable and Accrued Expenses
    • Debt

    Session 7: Soft Skills

    • Interviewing during a walk through
    • Workpaper creation
    • Status reporting
    • Becoming competent
    • Knowledge gain
    • Professional Skepticism

    Session 8:  Summary and Wrap-Up

  • 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 in-person event is designed for individuals seeking to expand their knowledge and skills in the field of financial auditing, especially those with prior experience as first-year audit staff. It can be taken the same week at Staff One.

    Participants will explore crucial topics such as internal controls, data analytics in auditing, fraud considerations in a Generally Accepted Auditing Standards (GAAS) framework, and auditing various financial elements like cash, accounts receivable, inventory, and more. This course provides hands-on training to help audit professionals gain practical insights into these complex areas.

    By completing this program, participants will be better equipped to perform advanced audit procedures, contribute effectively to audit teams, and enhance their understanding of essential audit concepts. This course serves as a valuable resource for individuals looking to advance their careers in auditing and assurance.


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