Audit Staff Essentials - New Staff Core Concepts

Overview

Audit concepts and techniques essential to building foundational knowledge are explained for new staff entering the profession.

Highlights

Key Topics

• Audit basics
• Audit risk model
• Professional skepticism
• Key communication skills
• Working papers and documentation
• Professional standards and behavior
• New auditor's role in an engagement

Prerequisites

None

Designed For

Who Will Benefit

• Recently onboarded staff
• First-year staff
• Firms that want consistent training and level setting

Objectives

Learning Outcomes

• Recognize the audit's purpose, phases, and procedures performed during each phase of an audit.
• Distinguish among the performance requirements of preparation, compilation, and review engagements.
• Identify key concepts and techniques of interpersonal behavior and communication.
• Recall the importance of professional skepticism and identify when and how to use professional judgment and skepticism in the audit.
• Recall the basics of the audit risk model, including assertions.
• Recognize the different qualities of audit evidence and the techniques used to obtain evidence in order to form an opinion on the financial statements and related disclosures.
• Identify the purpose and importance of audit documentation and the fundamental principles and their application.