AuditWatch University Level 4.5:
Beyond In-Charge, "Taking the Next Step"
|This course prepares experienced auditors to take the next step in their development as engagement and firm leaders. Building on the concepts introduced in Level 4: Experienced In-Charge Training, the course challenges auditors to champion the audit process by developing efficient audit plans, managing the audit process, working with clients, dealing with complex accounting and audit issues. Course material also addresses key issues in performing review and compilation engagements, using special purpose frameworks, and recognizing advanced financial reporting issues.||Course Details
Duration: Three Days
Prerequisite: 4-5 Years Experience
Level of Instruction: Intermediate
Delivery Method: Group-Live (Seminar)
CPE Credits: 24 Credits (Auditing - 19 hrs., Accounting - 1 hr., Communication and Marketing - 2 hrs., Personal Development - 2 hrs.)
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
MAJOR TOPICS AND LEARNING OBJECTIVES:
- Describe and teach basic audit concepts to staff
- Perform more efficient and effective engagements
- Share ideas with your firm and your teams to look at engagements in different ways
- Recognize when complex technical issues might indicate a risk of material misstatement on your audits.
- List and describe ways to identify technical auditing and accounting issues early to improve efficiency on engagements.
- Identify and respond to fraud and other audit risks
- List and describe considerations as a general reviewer for Review and Compilation engagements
- Understand engagement and reporting differences for Special Purpose Frameworks of accounting
- Discuss efficiency considerations related to Compilations, Reviews and Special Purpose Framework engagements
- Define the sampling unit
- Recognize stratification rules and techniques
- Evaluate errors and assess sampling risk
- Contrast and compare substantive, internal controls and attribute sampling methods
- Identify audits subject to the requirements of AU-C 600
- Recognize group auditor responsibilities when making reference and when assuming responsibility for the work of component auditors
- Define the common phases of a project in the public accounting environment
- List actions and strategies for better management of your audits and projects
- Understand tools to better communicate project status
- List the characteristics of effective presenters
- Develop presentations for delivery to client management and audit committees
- Identify common presentation crutches and shortfalls
- List technical requirements for obtaining confirmation evidence
- Recognize the importance of external evidence on an audit
- Apply concepts related to confirmations in cash, debt, A/P, A/R, legal and more
- Apply advanced concepts in performing General Auditing Procedures
- Recognize requirements related to commitments, contingencies, related parties, subsequent events, going concern, and more
- Identify ways in which the audit can be improved from both efficiency and quality perspectives
- Identify ways in which the management of the engagement can be improved
- Summarize the key learning points of the course
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.
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