Instructor
In this course, first year staff will be provided with the foundational knowledge they will need to be successful, not only on their first few engagements, but throughout their careers. The course focuses on the skills and knowledge needed to perform the duties commonly assigned to first year audit staff members. Along with insight related to the audit process, this course includes considerations associated with the following —
• Internal controls
• Substantive testing
• Financial statement captions
• Fraud considerations
• Analytical procedures and audit data analytics
• And much more!
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This course will be hosted in partnership with the Greater Washington Society of CPAs
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:
— Cash and cash equivalents
— Accounts receivable
— Inventory
— Prepaid and other current assets
— Property, plant and equipment and leases
— Accounts payable
— Debt
• 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
None
Intended Audience: First-year auditors