This session prepares auditors to take in-field responsibility for an audit engagement. It mixes discussion with case studies to provide an in-depth look at designing and completing the key steps in an audit. There is heavy focus on completing the risk assessment procedures and making appropriate risk assessments. We include case study work on understanding, evaluating, and verifying a client’s activity level controls within key business cycles. This session also includes multiple interrelated modules on key business skills used by in-charge accountants, including supervising individuals and reviewing files. MAJOR TOPICS AND LEARNING OBJECTIVES: Reviewing Workpapers – 3.5 Credits (Auditing). Understand the requirements of AU-C 230, Audit Documentation. Describe the purpose of a detailed review. Perform a detailed review. Write productive review notes. Planning Your Audit – 8 Credits (Auditing). Gain an understanding of the entity and its environment, including internal controls. Assess risks of material misstatement at the overall and assertion levels. Facilitate an engagement team meeting. Design sufficient and appropriate audit procedures to respond to the assessed risks. Communication Skills – 1 Credit (Communications and Marketing). List challenges to good communication. Clearly communicate to staff and others. Listen actively to increase understanding of essential information. Introduction to Employee Benefit Plan Auditing - 1 Credit (Auditing). List audit procedures performed in employee benefit plan audits. Describe differences between financial statement and employee benefit plan audits. Identify unique compliance auditing requirements for employee benefit plans. Super Staff Supervision – 4.5 Credits (Auditing). Describe the importance of effective supervision. Identify and apply different teaching methods. Describe the need for and the process of delegation. Effective Analytics – 3.5 Credits (Auditing). Describe the principles of designing effective substantive analytical procedures. List common sources for developing expectations. Document results of substantive analytical procedures. Engagement Tips – 1 Credit (Auditing). List key principles for creating effective “prepared by client” lists. List efficient engagement wrap-up techniques and describe in what situations they might be most effective. Describe basic engagement economic terms and concepts. Introduction and Summary: Best Practices - 1.5 Credits (Auditing). Identify important skills and characteristics of the best performing in-charge accountants. List best practices discussed in the course. Describe ways skills learned in this program will be applied in the upcoming year. COURSE LENGTH: Three Days To learn more please call 800-775-9866.