Description
Level 1 Audit Training covers the basics of auditing that new auditors need to be set up for success in their careers. Qualifying for 16 auditing CPE credits, this live virtual training is broken up into four separate four-hour sessions. The training will explain how to audit cash, inventory, expenses & payables, as well as property, plant, & equipment. It will also introduce the basic assertions and risks applicable to these accounts. Additionally, it will provide an introduction to ethics and professional skepticism, risk assessment, internal control fundamentals, and best practices for work papers and audit documentation.
Level 1 Audit Training will be engaging and interactive, with opportunities to work in small groups and apply knowledge learned. At Galasso Learning Solutions, we don’t believe in stale, dry, or boring CPE training sessions but rather real-world information that promotes interactive learning. Attendees of Level 1 Audit Training will understand the fundamentals of auditing and have a solid foundation for all future audit learning.
The agenda includes:
Day 1: Tuesday, January 16, 2024
- Welcome and Introductions
- Introduction to Ethics and Professional Skepticism
- How to Audit: Cash
Day 2: Wednesday, January 17, 2024
- Introduction to Risk Assessment
- How to Audit: Inventory
- Q&A and Closing
Day 3: Thursday, January 18, 2024
- Welcome and Network Building
- Internal Control Fundamentals
- How to Audit: Expenses & Payables
Day 4: Friday, January 19, 2024
- Best Practices: Audit Workpapers & Proper Documentation
- How to Audit: PP&E
- Q&A and Closing
Learning Objectives:
- Recall the audit assertions applicable to the Cash, Inventory, Expenses & Payables, and Property, Plant, & Equipment balances
- Recognize risks & threats related to the Cash, Inventory, Expenses & Payables, and Property, Plant, & Equipment balances
- Identify substantive auditing procedures that are used to obtain comfort over Cash, Inventory, Expenses & Payables, and Property, Plant, & Equipment
- Identify common deficiencies in audit documentation on engagements
- Recall the documentation requirements of audit workpapers from AU-C 230
- Describe the five components of COSO
- Recall the limitations of internal controls
- Recognize noncompliance with ethical standards during engagements
- Recall the five fundamental principles of ethics for professional accountants
- Perform risk assessment procedures during an engagement
- Recall parts of the audit risk model
Who Should Attend:
- Audit staff who are new or have limited/less than one year of experience
CPE Accreditation:
- Recommended Hours of CPE | 16 Hours
- Field of Study | Auditing
- Prerequisites | None
- Advanced Preparation | None
- Program Level | Basic
- Delivery Method | Group Internet Based
Please provide the names and email addresses of all course attendees in the Order Notes.
Registration, Cancellation, and Refunds:
- To register for this session, please go to https://galassolearningsolutions.com/product/level-1-audit-training-jan-2024/. In order to be awarded the full credit hours, participants must be present and must answer polling questions inside the webinar platform. Partial credit will be provided in accordance with NASBA policy.
- All sales are final, however, substitutions can be made up to one business day prior to the start of the first session.
- Galasso Learning Solutions will make every effort to provide the best training courses possible. In the event you are not completely satisfied with the program and wish to file a complaint, please contact Frank Galasso at operations@galassolearningsolutions.com within 10 business days of the event.
- For more information regarding refund, complaint, and/or program cancellation policies please see our website.
Registrants will receive event links with a calendar reminder from ZOOM within 24 hours of registration.
Galasso Learning Solutions LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State Boards of Accountancy have the final authority on the acceptance of individual course for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.