AuditWatch - The Profession's Premier Training and Consulting Team

AuditWatch University Level 1: Basic Staff Training

 

Course Details
Duration: Four Days
Prerequisite: 0-4 Months Experience (new auditors with no busy-season experience)
Level of Instruction: Basic
Delivery Method: Group-Live
CPE Credits: 32 Credits (7 Accounting, 23 Auditing, 2 Communication)
Advanced Preparation: None
Registration: To register for a public course, visit our Course Schedules page.

To inquire about In-House Training, or other questions, call 1-800-775-9866

   
This session helps new auditors get off to a great start, introducing them to the auditing field and basic auditing responsibilities. The course includes case studies on common audit areas typically completed by staff accountants and provides an overview of how each area fits into the big picture.

Learning Objectives by Module
After the session, participants should be able to:

Role of the Staff Auditor — 1 Credit (Auditing)

  • Describe characteristics and skills that are important to a staff person's success

Services and Responsibilities — 2 Credits (Auditing)

  • Describe key differences between an audit, a review, compilation, preparation of financial statements, and accounting services
  • Recognize the purpose of an audit
  • Identify attest procedures versus accounting services
  • More confidently execute your role and responsibility as an effective engagement team member

Workpapers and Documentation — 2 Credits (Auditing)

  • Explain the requirements of AU-C 230, Audit Documentation
  • Create, organize, and prepare audit workpapers

Introduction of the Audit Plan — 3.5 Credits (Auditing)

  • Describe the key phases of the audit plan
  • List basic requirements of risk assessment procedures
  • Discuss the objectives and contents of the key planning forms
  • Identify ways auditors obtain audit evidence through the performance of accepted audit procedures

Introduction to Internal Controls & Analytical Procedures — 4 Credits (Auditing)

  • Describe the key components of internal controls and list the auditors' responsibilities related to controls
  • Describe requirements and best practices for understanding, documenting and testing internal controls
  • Characterize the role of analytical procedures in audits and reviews
  • Identify the key steps in performing substantive analytics
  • Properly document an understanding of controls and substantive analytics proceduress

Common Audit Areas — 16 Credits (9 Credits Auditing, 7 Credits Accounting)
(Cash, A/R, PP&E, Inventory, A/P, Debt)

  • Identify and explain the basic audit risks
  • Perform common audit procedures and explain how the procedures address documented risks and assertions

Professionalism in Public Accounting — 3 Credits (1 Credit Auditing, 2 Credits Communication)

  • Describe tips for professionalism in the role of a staff person
  • List key characteristics of being successful in public accounting
  • Understand common ethical challenges and potential responses

Summary: Best Practices for Beginning Staff — 0.5 Credit (Auditing)

  • Summarize the key learning points of the course
  • Revisit course objectives
  • Brainstorm best practices for first-year staff
     

 

Video ClipAuditWatch University Level 1: Basic Staff Training
Christopher K. Martin, CPA, and Ericka Racca, CPA, CIA, discuss the AuditWatch University Level 1: Basic Staff Training.
View Video >>


For more information regarding refund, complaint, and program cancellation policies, please contact our office at 1-800-775-9866.

AuditWatch is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: NASBAregistry.org.

Course Schedule

 

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