This course continues to build on the knowledge first year staff have attained through experience and our new staff/practical application course. Experienced staff take on an expanded role on engagements with more technical or advanced accounting and auditing topics. This course will provide discussion, examples and exercises that focus on the increasingly advanced topics that those staff with 1–2 years of experience will commonly be tasked with. From accounts receivable, to inventory price testing and obsolescence, this course takes these types of widely used accounts into their more complex areas. Along with an application based discussion of common account balances and transactions, the course discusses other topics key to a successful and well-rounded experienced staff member, including tasks such as risk assessment, sampling, engagement management and supervision, and working paper review.
This course will be hosted in partnership with the Greater Washington Society of CPAs
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.
• Effectively identify steps to design procedures to test controls, including gathering evidence of effectiveness, accessing deficiencies, and communicating findings.
• Design and perform substantive procedures, including substantive analytical procedures and substantive tests of details.
• 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
1–2 years of audit experience
Intended Audience: Experienced audit staff