Financial Statement Audits for New Auditors Series: Audit Planning (Currently Unavailable)

Author: Salvatore Collemi

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

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Auditing (1 hour)

Program Prerequisites
None

Advance Preparation
None