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AuditWatch University Level 4: Experienced In-Charge Training

 

Course Details
Duration: Three Days
Prerequisite: 3-4 Years Experience
Level of Instruction: Intermediate
Delivery Method: Group-Live
CPE Credits: 24 Credits (24 Auditing)
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 course moves experienced auditors beyond the basics. The session builds upon experiences with running engagements and provided insights and best practices on supervising, motivating, and evaluating team members. The course challenges experienced auditors to improve the effectiveness and efficiency of their audit engagements through exercises and case studies on common audit scenarios. It also provides an in-depth look at audit tasks typically performed by more experienced team members, such as evaluating design of controls, responding to risks, designing audit programs, and tests of controls.

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

The Supervision Competency — 6 Credits (Auditing)

  • Define competency and list its components
  • Share, reflect upon, and self-assess supervisory skills
  • Address concerns and challenges, including:
    • Selecting an appropriate leadership style
    • Creating and motivating teams
    • Managing subordinates
    • Providing oral and written feedback

Advanced Topics in Audit Planning — 6.5 Credits (Auditing)

  • Identify critical auditing concepts to teach to engagement team members
  • List more complex areas in planning that impact the entire audit engagement
  • Effectively and efficiently gain an “understanding” of internal controls
  • Share best practices in facilitating planning meetings
  • Leverage budgets to maximize realization and firm profits
  • Learn techniques to more effectively communicate engagement status

Creating and Modifying Audit Programs — 2 Credits (Auditing)

  • Evaluate audit procedures for effectiveness in achieving audit goals
  • Facilitate the development and customization of further audit procedures

Designing Better Analytics and Tests of Controls — 3 Credits (Auditing)

  • Evaluate analytics for effectiveness in achieving audit goals and efficiency opportunities
  • Document results of substantive analytical procedures
  • Teach your engagement team how to better develop, execute, and interpret analytical results
  • Determine when to test internal controls
  • List methods available to test internal controls
  • Design tests of internal controls

Identifying and Responding to Fraud Risks — 1.5 Credits (Auditing)

  • List common fraud risks at small companies
  • Design tailored audit responses to fraud risks
  • Identify specific tests to search for fraud
  • Incorporate the use of technology in fraud responses

Auditing Revenue — 2 Credits (Auditing)

  • List different approaches to auditing revenue
  • Design an audit approach based on the risks of material misstatement
  • Identify common deficiencies in auditing revenue

Evaluating, Concluding, and Reporting — 1.5 Credits (Auditing)

  • Evaluate misstatements and control deficiencies and perform required responses
  • Explain the requirements, evaluate, and report in compliance with of AU-C Section 265
  • List resources that generate insightful management letter comments
  • Use a structured model to draft control deficiencies and business advice comments for management

Introduction and Summary: Best Practices — 1.5 Credits (Auditing)

  • Identify the most significant challenges facing experienced in-charge auditors
  • List best practices discussed in the course
  • Describe ways skills learned in this program will be applied in the upcoming year

 

Video ClipAuditWatch University Level 4:
Experienced In-Charge Training

Pete Bieghler, CPA, and Jex Varner, CPA discuss the AuditWatch University Level 4: Experienced In-Charge Training.
View Video >>


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 submitted to the National Registry of CPE Sponsors through its website: NASBAregistry.org.

Course Schedule

 

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