A deep dive into audit procedures needed to meet the challenges of the in-charge auditor. Overcoming the challenges of an in-charge auditor Several challenges and opportunities accompany the in-charge auditor position. You can prepare for these challenges by considering a few general concepts in greater depth, including: - Audit risk - Audit strategy - Facets and testing of controls - Designing and performing substantive procedures - Summarizing audit results Understanding the entity and its environment You will also examine elements of the risk assessment process, including: - Identifying and understanding risks of material misstatement at the financial statement and relevant assertion levels - Examining the relationship between risk assessment procedures and further auditing procedures - Linking risks and procedures such as control testing Who Will Benefit - Experienced staff - New in-charge auditors - Firms that want consistent training and level setting Key Topics - Audit risk model - Audit strategy - Control testing - Substantive testing - Summarizing audit results Learning Objectives - Determine key components of the audit risk model and audit strategy. - Identify the considerations regarding testing controls, including gathering evidence of effectiveness, assessing deficiencies, and communicating findings. - Identify the considerations for designing and performing substantive procedures, including substantive analytical procedures and substantive tests of details.