In this second installment of the four-part Audit Staff Essentials series, first-year audit staff members are equipped with the foundational knowledge critical for success, both in initial engagements and throughout their careers. Serving as a companion to our New Staff: Core Concepts course, this course zeroes in on the vital skills and knowledge required to fulfill the responsibilities typically assigned to first-year audit staff. The course also provides valuable insights into the audit process, incorporating considerations related to the following areas: internal controls; substantive testing; financial statment captions; fraud considerations; analytical procedures and audit data analytics; and much more!
DESIGNED FOR
Recently onboarded staff, first-year staff, firms that want consistent training and level setting
BENEFITS
- Recall the basics of the internal control, including using the work of others
- Identify the key concerns regarding fraud considerations in a GAAS audit
- Recall the purpose and procedures regarding analytical procedures and their use in an audit
- Identify the audit procedures typically performed by New Staff in the following areas and match them to stated audit objectives and relevant assertions: cash and cash equivalents; accounts receivable; inventory; prepaid and other current assets; property, plant and equipment; accounts payable; and debt
HIGHLIGHTS
- System of internal control
- Risk assessment
- Fraud considerations
- Analytical procedures
- Basic auditing procedures for areas commonly assigned to new staff members
PREREQUISITES
None
ADVANCE PREPARATION
None