Audit Skills Training: Level 1 – New Auditors Webinar (Day 2 of 2)

• Describe the most critical elements of the Code of Professional Conduct, including professional skepticism and independence
• Understand the most desired traits of an entry-level auditor
• Discuss the primary difference in a financial statement auditor’s responsibilities compared to other services, such as compilations and reviews
• Explain the components of audit risk, which are necessary to reduce the risk that a financial statement auditor issues the wrong opinion
• Be familiar with the results of the numerous case studies, exercises, and illustrations that reinforce key learning points throughout the course

Each module includes a lecture followed by in-class group case studies and activities. In this two-day course, the following two-hour modules will be presented:

• Day 1:
• Code of conduct: Transitioning to the professional world
• Traits of a star performer: Desired traits of entry-level auditors
• Fraud risk considerations: The importance of professional skepticism
• Compilations and reviews: The contrasting nature of compilations, reviews, and audits
• Day 2:
• Audit documentation and review: Audit documentation basics
• Risk-based audit concepts: The basic audit concept
• Internal controls: Internal control fundamentals in evaluating the design of internal control
• Cash: Auditing cash and cash equivalents