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PCAOB Audit Tradecraft for the External Auditor

PCAOB Audit Tradecraft for the External Auditor

PCAOB Audit Tradecraft for the External Auditor – Elevate Your Auditing Expertise

Achieve mastery in PCAOB auditing standards and elevate your professional skills with the PCAOB Audit Tradecraft for the External Auditor CPE Training Event. Tailored for external auditors, CPA firm staff, and compliance professionals, this rigorous program provides the tools, insights, and techniques needed to ensure high-quality audits that meet PCAOB auditing standards. Earn 12 NASBA-Approved CPE credits while refining your audit practices to excel in today’s complex regulatory landscape.

 

Why Attend?

1. Deepen Your Understanding of PCAOB Auditing Standards - Gain comprehensive knowledge of current PCAOB auditing requirements, including key standards, ethics, independence considerations, and quality control expectations.

2. Sharpen Your Audit Tradecraft - Learn essential skills like risk assessment, ICFR evaluation, and audit planning to improve the accuracy, thoroughness, and reliability of your work.

3. Stay Ahead of Regulatory Changes - Understand evolving inspection guidelines and compliance expectations, ensuring your audits are aligned with the latest PCAOB regulations.

4. Earn 12 CPE Credits - Enhance your professional qualifications while building confidence in delivering audit opinions stakeholders can trust.

 

What You’ll Learn

This two-day seminar is designed to equip you with actionable knowledge and advanced techniques for performing PCAOB-compliant audits.

1. Core Principles of PCAOB Auditing Standards

  • Explore the key components of PCAOB auditing standards, from ethics to independence and ICFR documentation.
  • Navigate the Sarbanes-Oxley Act (SOX) and understand its implications for audit quality.

2. Risk Management and Audit Planning

  • Master advanced methodologies for identifying and addressing significant risks of misstatement.
  • Delve into strategies to align audit planning with PCAOB auditing standards and client-specific requirements.

3. ICFR Evaluation and Compliance

  • Understand the COSO Framework and its role in assessing Internal Control over Financial Reporting (ICFR).
  • Learn practical approaches for SOX compliance documentation and testing.

4. Developing Audit Workpapers

  • Discover how to create detailed, accurate audit workpapers that can withstand PCAOB inspection.
  • Incorporate analytical skills, attention to detail, and effective communication into your audit documentation processes.

5. Enhancing Tradecraft Skills

  • Cultivate critical behaviors like intellectual curiosity, ethics and integrity, empathy, and adaptability, which are essential for sustained audit success.

 

Benefits of Attending

  • Strengthen Audit Quality: Gain in-depth knowledge to improve your audit processes and deliver high-quality financial reporting.
  • Ensure Regulatory Compliance: Stay compliant with PCAOB auditing standards and SOX regulations while addressing the unique challenges of external auditing.
  • Develop Advanced Tradecraft: Build skills in evaluation, risk assessment, and strategic communication to elevate your auditing expertise.
  • Accelerate Career Growth: Stand out among your peers with enhanced knowledge of PCAOB auditing standards and 12 CPE credits to your name.

 

Event Details

  • Program Schedule: Offered every eight weeks on Wednesday and Thursday from 9 a.m. to 3 p.m. CST, with a half-hour lunch break.
  • Format: Online, live interactive sessions held over two days (Group Internet-Based).
  • Duration: 12 hours.
  • CPE Credits: 12 NASBA-Approved CPE Credits in Auditing and Business Ethics.
  • Cost: $825.
  • Private Training Available: Tailored courses for groups of two or more participants can be scheduled for your organization.

 

Who Should Attend?

This seminar is ideal for professionals seeking to refine their knowledge and skills in auditing, including:

  • External Auditors: Enhance your ability to meet PCAOB compliance standards and deliver trustworthy audit results.
  • CPA Firm Staff Members: Elevate your auditing practices and prepare for PCAOB inspections with confidence.
  • Compliance Professionals: Understand the intricate intersection of risk management, ICFR, and SOX compliance.

 

Why Compliance with PCAOB Standards Matters

PCAOB auditing standards ensure financial reporting integrity by mandating rigorous scrutiny of audit processes. By mastering PCAOB tradecraft, you can:

  • Protect Investor Trust: Deliver audit results that stakeholders can rely on with confidence.
  • Maintain Independence: Align your practices with SEC and PCAOB auditing standards, underscoring ethical audit behavior.
  • Enhance Organizational Reputation: Establish your audit team as a trusted authority in public company financial reporting.

 

Register Today

Take the next step in your career by mastering PCAOB audit tradecraft. Join this intensive training event to gain critical skills, enhance your understanding of PCAOB auditing standards, and earn 12 CPE credits.

 

Register now to ensure you remain at the forefront of audit excellence in today’s evolving regulatory environment!

  • Details on Event Presentation

    Offered on Wednesday-Thursday once every eight 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.

     

    NASBA Program Disclosure

    Program Level of Understanding: Basic

    Prerequisites: None

    Advance Preparation: None

    Delivery Format: Group Internet Based

    NASBA Field(s) of Study: Auditing, Business Ethics

    CPE Credits: 12, based on 50 minutes of instruction per hour

  • CPE Event Highlights

    The seminar reviews and answers the following questions:

    • What are the PCAOB Audit Standards?

    • What are the typical inspection report issues?

    • What are the key audit planning issues?

    • How does the COSO Framework fit together?

    • What is contained in an "ICFR" assessment program?

    • How should the "client" be documenting "ICFR" assessments?

    • How does this testing work?

  • Learning Objectives

    Attendees will:

    • Understand the PCAOB's key audit standards.

    • Understand risk assessment from the external audit viewpoint.

    • Have examples of client documentation.

    • Know how the components and principles are integrated within COSO framework.

    • Have an approach to issues concerning PCAOB compliance.

  • Key Issues on the Agenda

    Introductions and Background
    Section 1 - Sarbanes-Oxley and the PCAOB
    Section 2 - Current PCAOB Auditing Standards
    Section 3 - Audit Planning and Risk Management
    Section 4 - COSO Framework: Control Environment Entity-Level Controls
    Section 5 - COSO Framework: Risk Assessment Entity-Level Controls
    Section 6 - COSO Framework: Supporting Component
    Section 7 - The Client's Approach to SOX Documentation
    Section 8 - Auditor's Approach to RA & CE Entity Level Controls
    Section 9 - Auditor's Approach to Process Controls
    Section 10 - Auditor Tradecraft Summary

  • Summary of the Subject Matter

    The "PCAOB Audit Tradecraft for the External Auditor" training event hosted by CCS is a comprehensive course designed to meet the PCAOB's continuing professional education (CPE) requirements for external auditors. This event provides a thorough overview of the PCAOB's expectations and standards for external auditors, as well as the latest techniques and methodologies in auditing. The course covers a wide range of topics, including the audit process, risk assessment, testing procedures, data analytics, communication, and documentation.

     

    Through this PCAOB training, external auditors will gain a deep understanding of the PCAOB's auditing standards (AS) and how they apply to the audit process. Also covered in the course will be the importance of internal control in auditing and how it affects audit compliance. Participants will leave the training equipped with the knowledge and skills needed to stay up-to-date with the latest developments in the field and ensure their audit services are in line with PCAOB standards.

     

    This auditor course is designed for experienced external auditors who are looking to improve their audit tradecraft and maintain PCAOB compliance. The "PCAOB Audit Tradecraft for the External Auditor" training event is a valuable opportunity for external auditors to enhance their skills and stay at the forefront of their field.

  • Authoritative Sources

    To further enrich your journey and deepen your understanding of these essential behaviors, CCS has curated a list of authoritative sources. Each of these resources serves as a beacon, guiding you towards not just compliance with standards but embodying the principles that define excellence in auditing, the "Tradecraft":

    Empathy and Understanding

    Harvard Business Review:

    • Explore articles on emotional intelligence and empathy in professional settings. Understanding the client's perspective and fostering effective communication is crucial.

    Ethics and Integrity

    Institute of Internal Auditors (IIA) - Code of Ethics:

    • A cornerstone resource for auditors seeking to uphold the highest ethical standards in their practice.

    Inquisitiveness and Intellectual Curiosity

    TED Talks:

    • Engage with talks that spark curiosity and inspire a lifelong love of learning, critical for staying ahead in the ever-evolving field of auditing.

    Analytical Skills and Attention to Detail

    American Accounting Association (AAA):

    • The AAA offers resources and journals that delve into the latest research and developments in accounting and auditing, perfect for honing analytical skills.

    Exceptional Communication Skills

    Toastmasters International:

    • Enhance your public speaking and communication skills through Toastmasters, a global organization dedicated to improving these essential capabilities.
    Understanding Business Risk

    Risk Management Association (RMA):

    • Provides insights, frameworks, and tools for effectively managing and understanding business risk, an indispensable aspect of auditing.

    By delving into these resources, you're not just expanding your knowledge; you're embracing a mindset that transcends the basics of auditing. You're committing to a path of personal and professional development that honors the essence of what it means to be an auditor—a guardian of financial integrity and a trusted advisor to the business world.

    Remember, the journey of mastering the PCAOB Audit Tradecraft and the behaviors that underpin it is ongoing. It's a commitment to constantly evolve, adapt, and grow in service of the greater good. Let these resources be your companions along the way, illuminating your path towards achieving not just

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