This, the final of our comprehensive Audit Staff Essentials courses, focuses on the more advanced areas of the audit for new senior/in-charge staff and to provide guidance, examples and exercises to build the skills to successfully obtain the audit evidence necessary in these areas. In addition to the technical knowledge necessary, this course provides an overview of the common responsibilities of new senior/in-charge staff, including a deeper discussion of the audit process, highlighted by discussions on materiality, review of risk assessment, understanding the entity, opening balances, group audit considerations, and review of interim financial information. In addition, the course will look more closely at the risk assessment process. This course will provide discussion, examples and exercises that focus on the increasingly advanced topics that senior/in-charge staff members will commonly be tasked with, including contingencies, revenue recognition, investments, intangible assets and financial reporting topics.
This course will be hosted in partnership with the Greater Washington Society of CPAs
When you complete this course you will be able to:
• Apply the key skills related to engagement management and supervision.
• Apply the procedures needed in increasingly complex audit and accounting areas.
• Identify the considerations for proper financial reporting, including financial statement preparation.
• Identify the components of an auditor’s report and under which circumstances modifications will be made.
• Risk assessment
• Internal controls
• Engagement management and supervision
• Revenue recognition
• Estimates and fair value measurements
• Deferred income taxes
• Using a service organization
• Financial reporting
• Concluding the audit
2–3 years of audit experience
Intended Audience: New in-charge and experienced audit staff with more than two to three years of audit experience