Financial Statement Audits for New Auditors Series: Audit Planning

Author: Salvatore Collemi

CPE Credit:  1 hour for CPAs

The Financial Statement Audits for New Auditors series of courses is focused on assisting new staff moving into an audit practice of non-public business entities (PBEs). These courses will help staff on their first audit engagement. This is part one of the three part series.

Publication Date: August 2019

Designed For
For entry-level, newly designated in-charge and managers in public practice.

Topics Covered

  • Purpose of an audit
  • Engagement letter
  • Responsibilities of in-charge auditors and managers during planning
  • Responsibilities of staff auditors during planning
  • Resources

Learning Objectives

  • Identify the purpose of an audit
  • Recognize the purpose of and identify the components in an engagement letter
  • Describe the responsibilities in the pre-engagement period and planning that are typically performed by in-charge accountants, managers and partners
  • Describe the responsibilities in planning that are typically performed by staff accountants
  • Identify the purpose of a budget and how it impacts an auditor's responsibilities
  • Identify how information in the budget and preliminary analytical procedures can inform testing in an area
  • Describe how the information used in planning is used when performing further substantive testing
  • Describe time budget


Instructional Method

NASBA Field of Study
Auditing (1 hour)

Program Prerequisites

Advance Preparation

Registration Options
Regular Fee $44

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