Audit Staff Essentials – Experienced Staff/ New In-Charge

Overview

This, the third of four comprehensive Audit Staff Essentials courses, continues to build on the foundational knowledge first year audit staff have attained through both practical experience and our two-part New Staff courses. As they progress, experienced staff members assume a more significant role in engagements, tackling increasingly technical and advanced accounting and auditing topics. This course provides a wealth of discussion material, examples, and exercises focused on the more complex aspects of commonly utilized accounts that audit staff members with 1-2 years of experience are likely to encounter. Topics range from accounts receivable to inventory price testing and assessment of obsolescence, diving into the intricate details of these accounts. In addition to providing application-oriented discussions on common account balances and transactions, the course also explores key subjects that contribute to the development of a wellrounded and proficient experienced audit staff member. These topics include risk assessment, sampling techniques, engagement management and supervision, and the critical skill of working paper review.

Highlights

• Auditor responsibilities • Risk assessment • Engagement management and supervision • Working paper review • Sampling and substantive sampling as concepts • Auditing contingent liabilities and going concern • Auditing investments • Auditing intangible assets and goodwill • Research tools

Designed For

Experienced audit staff Firms that want consistent training and level setting

Objectives

You could pay $0 for this course!
This course qualifies for reimbursement through the State Workforce Training Express Fund. Firms/companies with fewer than 100 staff will receive 100% of the cost of training reimbursed. You must register for this course and apply for reimbursement through the Workforce Training Express Fund website a minimum of three weeks before the start date of the course to be eligible. The course code for this program is C-1154. To learn more click here or contact Julia Ekelund at jekelund@mscpaonline.org.

When you complete this course, you will be able to: • Identify and perform the core responsibilities of the in-charge auditor, including materiality, risk assessment, and audit strategy. • Select appropriate methods to test controls, gather evidence of effectiveness, access deficiencies, and communicate findings. • Determine proper substantive procedures to be performed, including substantive analytical procedures and substantive tests of details.

Fees

Credits

Level

Vendor

Fields of Study

Leader(s):

Anne Marchetti, American Institute of CPAs

Leader Bios

Anne Marchetti, American Institute of CPAs

Anne M. Marchetti has 25 of years of finance and accounting experience in both private industry and public accounting. She is a Sarbanes-Oxley subject matter expert focused on the design, implementation, analysis and optimization of internal control systems as well as corporate governance and risk management programs. As a thought leader in this area, she developed a compliance methodology in conjunction with a delivery framework and has spoken at numerous conferences as well as published several articles on this particular subject. Ms. Marchetti has worked globally with both public and private entities in most industries as well as organizations of all sizes. She regularly interacts with external audit firms as a liason on behalf of these organizations. She authored 3 books entitled Beyond Sarbanes-Oxley Compliance – Effective Enterprise Risk Management, Sarbanes-Oxley On-going Compliance Guide and Enterprise Risk Management Best Practices: From Assessment to Ongoing Compliance. Ms. Marchetti served as the Global Service Line Director – Governance and Risk Management Practice at Parson Consulting. As the Practice Director she worked with numerous clients on Sarbanes-Oxley compliance initiatives and frequently collaborated as well as presented to Board’s of Directors in regard to Sarbanes-Oxley compliance, Corporate Governance and Enterprise Risk Management. Ms. Marchetti leverages this experience with a unique blend of technical skills which include management of ERP software implementations from a technology, process and accounting perspective. She has designed training programs for Board of Directors and Audit Committees as well as end users and consultants on various business software applications, Sarbanes-Oxley compliance, ERM in addition to IFRS and has conducted over 200 formal training seminars. Anne currently operates Account-Ability Consulting and provides advisory and consulting services in the areas of Sarbanes-Oxley compliance, internal controls optimization, corporate governance, enterprise risk management, IFRS, financial system implementation and training/education.

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