This is the final installment in a comprehensive four-part series designed to equip new audit staff with the foundational knowledge essential for success. It covers the more complex facets of auditing, tailoring its content to meet the needs of new senior or incharge audit staff members. Participants can expect to receive valuable guidance through relevant examples and practical exercises, all aimed at honing their skills for gathering effective audit evidence in these advanced areas. Beyond the requisite technical knowledge, this course offers a detailed overview of the typical responsibilities shouldered by new senior/in-charge audit staff. This includes an indepth exploration of the audit process, with particular emphasis on topics such as materiality, risk assessment reviews, gaining an understanding of the entity, addressing opening balances, considerations for group audits, and the examination of interim financial information. Additionally, the course provides a thorough examination of the risk assessment process, ensuring that participants are well-versed in this critical area. Senior/in-charge audit staff members will find themselves engaging with progressively advanced topics that are integral to their roles, including but not limited to,
contingencies, revenue recognition, investments, intangible assets, and various financial reporting issues. Through a combination of discussion, examples, and exercises, this course equips participants with the knowledge and skills necessary to excel in their roles and contribute effectively to the audit process.
DESIGNED FOR
In-charge and experienced audit staff with more than two to three years of audit experience
BENEFITS
- Apply the key skills related to engagement management and supervision.
- Apply the procedures needed in increasingly complex audit and accounting areas.
- Identify the considerations for proper financial reporting, including financial
statement preparation.
- Identify the components of an auditor's report and under which circumstances
modifications will be made.
HIGHLIGHTS
- Risk assessment
- Internal controls
- Engagement management and supervision
- Revenue recognition
- Estimates and fair value measurements
- Pensions, leases, equity, and income taxes
- Using a service organization
- Financial reporting
- Concluding the audit
PREREQUISITES
2-3 years of audit experience
ADVANCE PREPARATION
None