Intermediate and Advanced Staff Training Series: Auditing Certificate Program
Many auditors are looking to expand their careers beyond staff accounting. This session is an audit concepts session that takes the participants on a journey that explores some of the functions and knowledge required by Senior Auditors, and Audit Managers. The session will also offer practical ideas on how to make the audit area procedures more efficient while maintaining the audit quality.
Upon completion of this series, CCH CPELink recognizes your understanding of basic auditing concepts and standards and will issue a certification in this topic area
Auditing internal controls is more subjective than auditing other areas of a client. There is no “one size fits all” set of internal controls. This course reviews the COSO Framework for Internal Control and discusses auditing a client’s internal controls. From conducting walkthroughs to hypothesis testing we will review the various aspects of auditing and evaluating internal controls. This course will review the component evaluation of the internal controls and will discuss the difference between sampling and using data analytics to test populations.
Are you up to speed on the requirements for auditing inventory? This course is designed for individuals who would like to obtain a better understanding of auditing inventory. We will review audit procedures for auditing inventory values, review the inventory valuation methodologies and discuss auditing the notes to the financial statements under GAAP and per the SEC requirements for public companies. We will discuss auditing estimated inventory for clients using the Gross Profit Method and Retail Inventory Method. We will discuss audit procedures that would allow the auditor to detect a material misstatement in the accounts from errors or fraud, and review common red flags for inventory fraud.
Are you up to speed on the new recognition standards and the audit procedures to use to ensure your audit client is compliant with the new revenue recognition standards? This course is designed for individuals who would like to obtain a better understanding of auditing for revenue recognition or who would like to review the standards. Although we will touch on cash basis accounting to show the differences this course will concentrate on GAAP accounting, specifically the revenue recognition requirements in ASC 606. We will review the revenue recognition standards and the audit procedures for auditing revenue recognition under GAAP.
The ultimate goal of most auditing firms is to grow their business and profitability. There are risks associated with accepting new audit clients. This course is designed to look at those risks and discuss procedures and best practices for accepting new clients. We will also discuss procedures and best practices for determining if the firm should, or wants to, continue as the auditor for a current client.
Are you up to speed on the requirements for auditing disclosures and notes to the financial statements? This course is designed for individuals who would like to obtain a better understanding of auditing notes and disclosures. We will review common notes and disclosures to the financial statements and discuss what the auditor should consider when reading the notes, disclosures, and Management Discussion & Analysis (MD&A). We will discuss audit procedures that would allow the auditor to detect a material misstatement in the notes & disclosures from errors or fraud. Participants should complete the audit staff training courses on the various areas included in the notes & disclosures prior to taking this course.
Are you up to speed on the requirements for auditing the payroll process? This course is designed for individuals who would like to obtain a better understanding of auditing payroll. We will review audit procedures for auditing the proper categorization of workers, the requirements for overtime and exempt employees under the Federal Labor Relations Act, internal controls for payroll, and field work in the payroll audit process. We will discuss audit procedures that would allow the auditor to detect a material misstatement in the payroll accounts from errors or fraud, and review common red flags for payroll fraud.
If you are experienced at reviewing the work of others or this is your first experience this course is for you. The standards of fieldwork require that assistants are properly supervised. It is important to conduct a full review of staff work to meet the standards. This is an advanced level course and participants should have previous audit experience and have taken at least 6 hours of basic audit CPE courses in the area they will be reviewing prior to taking this course. We will discuss the reviewer’s responsibilities but not the basic steps being reviewed so it is important participants have that basic knowledge.
Are you up to speed on the standards for writing audit reports? This course will concentrate on the requirements for writing PCAOB and government audit reports. We will also discuss how the AICPA standards are similar to, and are different from the PCAOB standards. This course, the final course in the audit staff training series, should be taken after completing the prerequisite courses Reviewing Work Papers & Fieldwork (2); Auditing Notes & Disclosures (2).
Total: 8 courses (16 CPE hours)
