Course ID: ASE2

Audit Staff Essentials — Practical Application

In this, the second of four comprehensive Audit Staff Essentials courses, 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. Designed as the companion course to our New Staff: Core Concepts, this 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!


Learning Objectives

· 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


Major Topics

· 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


Advanced Preparations

None


Who Should Attend

First-year auditors

Firms that want consistent training and level setting


Fields of Study
Accounting, Auditing

Prerequisites

None


Provider
AICPA

CPE Credits
16

Level
Basic

This course is available for your group as:

 

Let's Roll!

To learn more or customize this course for your group, complete this form and a BLI team member will get back with you shortly.


Or, contact BLI: 888-481-3500 or team@blionline.org
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