Objective
- Describe the most critical elements of the Code of Professional Conduct, including professional skepticism and independence
- Understand how to exceed expectations as an entry-level auditor
- Understand the most prevalent accounting and reporting services offered by firms: preparation of financial statements, compilations, reviews, and audits
- Understand and explain the components of audit risk and the steps in the risk assessment process
- Be prepared to audit cash and cash equivalents, property and equipment, accounts payable, accrued expenses, and basic forms of debt
- Be prepared to document the work performed in a manner that meets professional standards
Highlights
Each module includes a lecture followed by in-class group case studies and activities. In this two-day course, the following two-hour modules will be presented:
- Day 1:
- Transitioning to the accounting profession
- Code of ethics – Importance of professional skepticism and independence
- Quality management standards
- Risk assessment basics
- Internal control fundamentals
- Compilations and reviews – The contrasting nature of preparation engagements, compilations, and reviews
- Day 2:
- Auditing cash and cash equivalents
- Auditing property, plant, and equipment
- Auditing accounts payable and debt
- Documentation Basics
Designed For
New auditors with limited practical experience on auditsPrerequisite
NoneAdvanced Preparation
None