Auditing Procedures & Practices: Audit Supervision

Authored by Pat Patterson
About this Course
Topics covered include: Building a Case for Supervision in Audits; AICPA Code Of Professional Conduct; AICPA and Audits; PCAOB and Audits; IAASB Auditor Reporting Project; Converge, Converge, Converge; PCAOB Auditor Reporting Model; Disclosures; Other Projects and Auditor Reporting; Summary of Significant Changes; The Role of Quality Control In Supervision; Advice to Supervision for 'Working at Home'; My Story and Supervision; For the Future. Upon completing this course, you should be able to: Identify how to discuss among members of the engagement questions so that appropriate communication can occur within the engagement team; Recognize the teamwork and training needed to assist members of the engagement team to clearly understand the objectives of the assigned work; Differentiate how to supervise matters; Recognize how to track the progress of the audit engagement; Differentiate the competence and capabilities of individual members of the engagement team, including whether they have sufficient time to carry out their work, they understand their instructions, and the work is being carried out in accordance with the planned approach to the audit engagement; Recognize how to address significant findings or issues arising during the audit engagement, considering their significance, and modifying the planned approach appropriately; Identify matters for consultation or consideration by qualified engagement team members during the audit engagement; Recognize the extent of supervision required for engagement team members is not affected by; Recognize the ASB standards for when documentation is not necessary; Identify what the auditor reporting task force primarily focused on when updating the ASB audit reporting model; Differentiate between the PCAOB and IAASB auditing standards; Recognize which audit reporting standards are not required under the proposed SASs for AU-C section 700; Identify which element of a system of quality control enables a firm to evaluate whether policies and procedures are suitably designed and effectively applied; Recognize who is ultimately responsible for the proper supervision of an audit; Identify what gives the auditing firm reasonable assurance that supervision is adequate; Describe what all engagement team members are responsible for; Recognize how employees working at home should stay productive; Identify what was expanded in the auditor's report in order to address the expectations gap under the ASB; Recognize how each engagement team member exercises due professional care under AS 1015.
$ 75.00
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NASBA Field of Study
CPE Credits
Basic understanding of generally accepted auditing standards.
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