Audit Skills Training Level 3: Experienced Staff
CFS Consulting, LTD.
Level 3 focuses on transitioning staff auditors to performing more complex audit procedures and assuming more responsibilities related to handling financial reporting issues. This course builds on the technical experiences of auditors to introduce them to the tips and techniques necessary to assume responsibility on larger engagements with increased audit risk, including considering audit report modifications.
After completing this course, attendees will be able to explain how to properly safeguard independence when performing both attest and nonattest services, as well as explain significant risks, such as revenue recognition and fair value of investments. Attendees will be able to describe how to alter the nature, timing and extent of audit procedures to be commensurate with assessed risk of material misstatement, including fraud risk. They will understand how a proper evaluation of the design and operating effectiveness of internal control could impact assessed risk of material misstatement and know how to draft complex footnotes and properly modify auditor reports for emphasis-of-matters. Lastly, attendees will be familiar with the results of the numerous case studies, exercises and illustrations that reinforce key learning points throughout the course.