As you rapidly gain experience in the auditing profession, the responsibilities of the staff accountant grow exponentially. Progressing from the base-line audit skills covered in Level 1 training that allow a new auditor to perform their roles, Level 2 training covers those skills that are required for experienced staff accountants who need to audit more complex and subjective areas, such as accounts receivable and investments, and to plan and appropriately perform sampling and analytical procedures. Redesigned to provide the relevant content to staff accountants when they need it, the Level 2 reviews the underlying accounting concepts of these often-complex areas and, through examples and exercises, discusses the relevant audit procedures required by professional standards. The course is designed to allow the staff auditor to capitalize on their prior experiences and apply them in new areas, as they continue their career advancement. IMPORTANT NOTE: This course takes place over two consecutive days. Registration for both days is required.
Learning Objectives
- Recall the applicable accounting and auditing requirements for challenging audit areas
- Apply applicable auditing standards related to analytical procedures and sampling.
- Identify potential sources of fraud related to company’s financial reporting.
Major Topics
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:
- Auditing accounts receivable
- Physical inventory observations
- Sampling fundamentals
- Assessing fraud risk in a financial statement audit
- Day 2:
- Auditing common investments
- Financial statement fundamentals
- SSARS refresher and attestation engagement overview
- Analytical procedures fundamentals
