Audit Skills Training Level 1: New Auditors
Lieman Associates LLC
Level 1 focuses on the basic skill sets new staff need to "hit the ground running." The course explains the basics of what new auditors are expected to know and do, including the nature, timing and extent of common audit procedures; why certain procedures are performed and how to perform typical procedures expected of new staff. It will establish the groundwork for the expectation that all staff should critically analyze and understand the underlying purpose of procedures, as well as how to effectively and efficiently complete assigned tasks.
After completing this course, attendees will be able to describe the most critical elements of the Code of Professional Conduct, including professional skepticism and independence. They will understand the most desired traits of an entry-level auditor and the primary differences between a financial statement auditor's responsibilities and other services, such as compilations and reviews. Attendees will be able to explain the components of audit risk, which are necessary to reduce the risk that a financial statement auditor issues the wrong opinion. Lastly, attendees will be familiar with the results of the numerous case studies, exercises and illustrations that reinforce key learning points throughout the course.
NOTE: This course qualifies for 4 credits toward the WICPA membership Ethics CPD requirement.