AuditWatch University Level 3: Beginning In-Charge Training

Course Details
Duration: Three Days
Prerequisite: 21-36 Months Experience
Level of Instruction: Intermediate
Delivery Method: Group-Live
CPE Credits: 24 Credits (22 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 800.775.9866

This session prepares auditors to take in-field responsibility for an audit engagement. It mixes discussion with case studies to provide an in-depth look at designing and completing the key steps in an audit. There is a heavy focus on completing the risk assessment procedures and making appropriate risk assessments. The session includes case study work on understanding, evaluating, and verifying a client's activity level controls within key business cycles. In addition, this session includes multiple interrelated modules on key business skills used by in-charge accountants, including managing time, supervising individuals, and reviewing files.

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

Role of the In-Charge Auditor — 1 Credit (Auditing)

Identify ten important skills and characteristics of the best performing in-charge accountants

The Audit Process and Plan — 8 Credits (Auditing)

Obtain an understanding of the entity and its environment sufficient to identify risks of material misstatement
Obtain an understanding and participate in the evaluation of the design effectiveness of an entity's internal control structure, including information technology controls
Assess risks of material misstatement at the financial statement and assertion level
Design sufficient and appropriate audit procedures to respond to assessed risks
Evaluate and draft required communications of internal control deficiencies

Engagement Management — 2 Credits (Auditing)

List five or more client and engagement management techniques and describe the situations in which they might be most effective
List four or more key principles to creating and using budgets before, during, and after fieldwork

Supervision — 4 Credits (Auditing)

Describe and discuss ten or more characteristics or skills of effective and ineffective supervisors
Determine when it is appropriate to delegate and what participants must do to be effective in a delegation role
List keys to successful on-the-job training

Communication and Information Gathering Skills — 2 Credits (Communication)

Clearly communicate instructions to staff and others
Describe techniques for effectively interviewing clients and processing the information obtained from inquiries
Listen actively in order to increase participants' understanding of essential information

Documentation & File Review— 3 Credits (Auditing)

Describe and apply the requirements of audit documentation standards
Review audit documentation prepared by others and write productive review notes

Analytical Procedures — 3.5 Credits (Auditing)

List four common sources for developing independent expectations
Design and perform strong substantive analyticals in multiple audit areas

Summary: Best Practices for the Beginning In-Charge — 0.5 Credit (Auditing)

List best practices discussed in the course
Describe ways skills learned in this program will be applied in the upcoming year

For more information regarding refund, complaint, and program cancellation policies, please contact our office at 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 addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417. Web site www.nasba.org.