Audit Staff Essentials – New Staff: Practical Applications

Overview

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-1732. To learn more click here or contact Julia Ekelund at jekelund@mscpaonline.org.

In this second installment of the four-part Audit Staff Essentials series, first-year audit staff members are equipped with the foundational knowledge critical for success, both in initial engagements and throughout their careers. Serving as a companion to our New Staff: Core Concepts course, this course zeroes in on the vital skills and knowledge required to fulfill the responsibilities typically assigned to first-year audit staff. The course also provides valuable insights into the audit process, incorporating considerations related to the following areas: • Internal controls • Substantive testing • Financial statement captions • Fraud considerations • Analytical procedures and audit data analytics • And much more!

Highlights

• Internal controls • Fraud considerations • Analytical procedures, including audit data analytics and their potential in various audit cycles • Basic auditing procedures for areas commonly assigned to new staff members

Designed For

First-year auditors Firms that want consistent training and level setting

Objectives

When you complete this course, you will be able to: • Recall the basics of internal control, including using the work of others. • Identify the key concerns regarding fraud considerations in a GAAS audit. • Recall the purpose and procedures regarding analytical procedures and their use in an audit. • Identify the potential of audit data analytics and areas where these procedures can be effective. • Identify the audit procedures typically performed by new staff in the following areas: o Cash and cash equivalents o Accounts receivable o Inventory o Prepaid and other current assets o Property, plant and equipment and leases o Accounts payable o Debt