This, the third of five comprehensive Audit Staff Essentials courses, continues to build on the knowledge first year staff have attained through experience and our two-part New Staff courses. Experienced staff take on an expanded role on engagements with more technical or advanced accounting and auditing topics. This course will provide discussion, examples and exercises that focus on the increasingly advanced topics that those staff with 1-2 years of experience will commonly be tasked with. From accounts receivable, to inventory price testing and obsolescence, this course takes these types of widely used accounts into their more complex areas. Along with an application based discussion of common account balances and transactions, the course discusses other topics key to a successful and well-rounded experienced staff member, including tasks such as risk assessment, sampling, engagement management and supervision, and working paper review.
Course ID: ASE3
Audit Staff Essentials – Experienced Staff
- Recall the key skills related to engagement management and supervision.
- Identify the reason for working paper review and techniques to achieve the quality expected.
- Identify the key basic considerations of risk assessment and its effect on the audit.
- Recall the purpose, basic theory, and common procedures surrounding audit sampling.
- Identify the audit procedures typically performed by Experienced Staff in the following advanced areas and match them to stated audit objectives and relevant assertions: ??Accounts Receivable ??Debt ?? Inventory ?? Accrued Expenses ?? Stockholders’ Equity
- Risk assessment
- Engagement management and supervision
- Working paper review
- Basic auditing procedures for areas commonly assigned to experienced staff members