This series discusses the planning of more complex, riskier audit areas and the supervision of engagements. We will take an in-depth look at understanding the entity and assessing risk and internal control design; and use of confirmations and sampling methods to gather audit evidence. The Audit Staff Essentials courses establish a strong set of skills necessary to grow the abilities and confidence of junior and senior level staff, allowing them to work through additional areas more independently.
- Design an audit strategy and determine planning materiality
- Perform procedures to obtain an understanding of your client and its environment
- Use your understanding of the client and its internal control to assess the risk of material misstatement
- Design further audit procedures, based on your risk assessments
- Work with confirmations and design them to be more efficient and effective
- Design an effective sampling plan
- Match the audit procedures typically performed in the accounts receivable area to the stated audit objectives and relevant assertions
- Effectively review audit workpapers prepared by others
- Match the audit procedures typically performed in the inventory area to the stated audit objectives and relevant assertions
- Identify personality types and establish a more productive working relationship
- Gaining an understanding of the entity, business environment and internal controls
- Identifying controls related to risk assessment
- Designing procedures related to internal controls
- Confirmation procedures
- Sampling requirements and general procedures
- Aging of accounts receivable and the allowance for doubtful accounts
- Risks surrounding inventory balances
- Inventory observation design and execution
- Workpaper review style and overall procedures
- Introduction to personality styles and basic supervision concepts
Who will it benefit?
These courses establish a strong set of skills necessary to grow the abilities and confidence of junior and senior level staff, allowing them to work through additional areas more independently.