Auditing Skills Training: Level 1 is a two-day course presented on 09/19/2022 and 09/20/2022. Information and skills taught on Day 2 rely upon foundational skills built in the Day 1 session.
DESIGNED FOR
Designed for auditors with limited to no practical experience
BENEFITS
After attending this presentation you will be able to...
- Recall the foundational principles of the Code of Professional Conduct
- Indicate the importance of maintaining professional skepticism
- Distinguish the differences between varying levels of professional services
- Identify minimum audit documentation requirements
- Recognize the proper application of the audit risk model
- List tips for evaluating the design and implementation of internal controls over financial reporting
- Identify common risks and audit techniques for cash and PP&E, including leases
- Recognize best practices for interviewing the client
HIGHLIGHTS
The major topics covered in this class include:
- Code of Professional Conduct - Exploring the foundational principles underlying the CPA profession as a whole
- Professional skepticism - Creating a mindset for finding fraud and error
- Adapting to the engagement - Differentiating the requirements of preparation, compilations, reviews, and audits
- Audit documentation basics - Creating workpapers that pass review
- The audit risk model - Understanding the foundational principles
- Internal control fundamentals - Satisfying the requirements for evaluating the design and implementation of internal control over financial reporting
- Auditing cash and cash equivalents - Applying basic skills to the starting point of any audit
- Auditing PP&E, including leases under Topic 842 - Digesting the risks of the improper treatment of tangible long-lived assets
PREREQUISITES
None
ADVANCE PREPARATION
None