Staff Level Training

AU-C Section 230 requires that auditors maintain sufficient audit documentation throughout the engagement. Audit documentation is essential, as it serves as the evidence that auditors performed appropriate procedures to support their opinion on the financial statements. This course will cover the basics & best practices of audit workpapers and proper audit documentation, as well as the common deficiencies in audit documentation. Upon completion, learners will be able to: 1. Identify common deficiencies in audit documentation on engagements 2. Recall the documentation requirements of audit workpapers from AU-C 230

Cash is the lifeblood of any organization, and is often one of the first accounts new audit staff encounter. This course provides a practical, hands-on approach to auditing cash, covering key audit assertions, common risks, and potential threats to the cash balance. Participants will explore essential substantive audit procedures, gaining the skills needed to effectively audit cash. Through interactive exercises, we will walk through a bank confirmation process and perform a step-by-step audit of a bank reconciliation, ensuring attendees leave with the confidence to tackle auditing cash in real-world engagements. Upon completion, learners will be able to: 1. Recall the audit assertions applicable to the cash balance 2. Recognize risks & threats related to the cash balance 3. Identify substantive auditing procedures that are used to obtain comort over cash 4. Perform audit of bank reconciliation 5. Perform cash confirmation procedures

A strong understanding of expenses and payables is essential for audit staff. This course provides a practical foundation in auditing accounts payable, expenses, and accrued liabilities, covering key audit assertions, common risks, and potential threats to these balances. Participants will explore essential substantive audit procedures and apply their knowledge through real-world examples. A key focus of the course is the Search for Unrecorded Liabilities - a presumptively mandatory test for completeness that every auditor must master. Attendees will walk through this critical procedures step by step, gaining the confidence and skills needed to perform it effectively in practice. Upon completion, learners will be able to: 1. Recall the audit assertions applicable to the expenses & payables balances 2. Recognize risks & threats related to the expenses & payables balances 3. Identify substantive auditing procedures that are used to obtain comfort over expenses & payables 4. Perform a search for unrecorded liabilities

Inventory observations are a rite of passage for audit staff and a critical component of many audit engagements. This course provides a hands-on approach to auditing inventory, covering key audit assertions, common risks, and potential threats to inventory balances. Participants will explore essential substantive audit procedures and gain practical experience through a simulated inventory observation. Attendees will practice counting individually significant items, performing floor-to-sheet and sheet-to-floor procedures, and documenting their work - ensuring they leave with the confidence to execute inventory counts effectively in real-world audits. Upon completion, learners will be able to: 1. Recall the audit assertions applicable to inventory 2. Recognize risks & threats related to the inventory balance 3. Identify substantive auditing procedures that are used to obtain comfort over inventory 4. Perform an inventory observation

Property, Plant, and Equipment (PP&E) often represents one of the largest balances on a company's financial statements, making it a critical area for auditors to understand. This course provides a practical approach to auditing PP&E, covering key audit assertions, common risks, and potential threats to the balance. This course will also cover different types of fixed assets and the various depreciation methods allowed under US GAAP. Participants will explore essential substantive audit procedures and real-world examples to reinforce their learning. To put theory into practice, attendees will work through an activity focused on testing fixed asset additions, gaining hands-on experience in performing a test of details. Upon completion, learners will be able to: 1. Recall the audit assertions applicable to PP&E 2. Recognize risks & threats related to PP&E 3. Identify substantive auditing procedures that are used to obtain comfort over PP&E 4. Perform a test of details on PP&E additions

A strong understanding of internal controls is essential for auditors performing risk assessments and designing effective audit procedures. AU-C Section 315 requires auditors to gain an understanding of the entity, its environment, and its intenal controls. This course provies a practical foundation in internal control fundamentals, including key concepts from the COSO framework - one of the most widely used internal control frameworks. Participants will explore the five components and 17 principles of COSO, differentiate between preventive and detective controls, and examine common examples of manual and IT controls. We will also discuss the inherent limitations of internal controls and why they provide reasonable, but not absolute, assurance. To bring these concepts to life, attendees will walk through key internal controls commonly found in practice, including those related to accounts payable, inventory management, cash handling, payroll, and financial reporting. Finally, we will break down the auditor's responsibilities for evaluating internal controls during the risk assessment process and determining when and how to test controls for operating effectiveness. Upon completion, learners will be able to: 1. Describe the five components of COSO 2. Recall the limitations of internal controls 3. Recognize examples of control activities

Ethics and professional skepticism are the foundation of public accounting, guiding auditors in maintaining integrity, objectivity, and independence. This course provides a deep dive into the Code of Ethics for Professional Accountants, ensuring practitioners understand their ethical responsibilities and how to navigate complex ethical dilemmas. During this course, attendees will explore the five fundamental principles of ethics, the conceptual framework for members in public practice, and the various threats to independence, including self-interest, familiarity, and undue influence threats. We will also discuss the three categories of safeguards and how to apply them when faced with ethical challenges. This course will then transition to professional skepticism and fraud detection, covering the auditor's responsibility in apply skepticism during engagements. Participants will gain insight into the fraud triangle, and how it manifests in real-world scenarios. Through interactive examples, attendees will analyze ethical dilemmas and instances of noncompliance, strengthening their ability to recognize and respond to risks effectively. Upon completion, learners will be able to: 1. Recognize noncompliance with ethical standards during engagements 2. Recall the five fundamental principles of ethics for professional accountants

Proper risk assessment is essential to designing an appropriate risk response during engagements. This course provides a foundational understanding of risk assessment procedures, equipping participants with the knowledge needed to enhance audit efficiency and effectiveness. Attendees will explore the requirements of AU-C Section 315, which mandates that auditors gain an understanding of the entity and its environment. We will break down the audit risk model, ensuring a clear understanding of its individual components and how this formula drives decision-making throughout the engagement. Through practical guidance, we will outline the steps of performing risk assessment, from executing risk assessment procedures to responding to identified risks. Additionally, we will emphasize the importance of walkthroughs on internal controls and their role in assessing risk. Upon completion, learners will be able to: 1. Perform risk assessment procedures during an engagement 2. Recall parts of the audit risk model

The completion and reporting phase is the final step in an audit engagement, where auditors ensure that all necessary procedures have been performed before issuing the audit report. This course provides a comprehensive overview of the critical tasks required to wrap up an audit, equipping attendees with the knowledge needed to complete engagements with accuracy and confidence. Participants will walk through key completion procedures, including evaluating subsequent events and subsequently discovered facts, assessing going concern, performing final analytical procedures, reviewing the audit file, completing the disclosure checklist, and finalizing financial statements. We will also discuss the importance of the management representaton letter and its role in audit documentation. The course will then transition to audit reporting, where attendees will gain a deeper understanding of the different types of audit opinions and how they impact the audit report. We will also break down the components of an audit report, explaining their significance and ensuring participants understand how to effectively communicate audit findings. Upon completion, learners will be able to: 1. Recall audit procedures performed during the completion phase of the audit 2. Describe the various audit opinions issued on reports

Once risks have been identified, auditors must design and execute the right further audit procedures to obtain sufficient and appropriate audit evidence. This course provides a practical approach to performing further audit procedures in accordance with AU-C Section 330, ensuring that auditors effectively respond to assessed risks. Attendees will explore the different types of further audit procedures, including tests of details, substantive analytical procedures, and tests of controls, and know how to determine the most appropriate approach based on the level of risk. We will also break down the key differences between attribute and variable sampling, helping participants understand when and how to apply each method. Upon completion, learners will be able to: 1. Recall the requirements of AU-C Section 330 2. Recognize the various substantive procedures that can be performed to gather evidence during an engagement

AU-C 315 requires the auditor to gain an understanding of the entity and its environment, which includes obtaining an understanding of internal controls. This course will cover the COSO framework, as well as introduce the responsibilities of the auditor for the identification and assessment of internal controls in audit engagements. Upon completion, learners will be able to: 1. Recall risk assessment procedures relating to internal controls 2. Recall components of the COSO framework

The planning phase of the audit is extremely important. According to AU-C 315, planning the audit includes establishing the overall audit strategy for the engagement and developing an audit plan, which includes planned risk assessment procedures and planned responses to the risks of material misstatement. During this course, we will discuss the preliminary engagement activities, planning activities, audit strategy, and audit plan that are all essential to the planning phase. We will also introduce materiality in the planning and performing of an audit, as well as identifying and assessing the risks of material misstatement. Upon completion, learners will be able to: 1. Recognize parts of the audit engagement letter 2. Identify acceptance and continuance procedures that engagement teams should perform 3. Identify the preliminary engagement activities that are performed in the planning phase 4. Identify the planning activities that are performed in the planning phase 5. Distinguish considerations for establishing materiality for the financial statements in the planning phase

This course will serve as an introduction to conducting effective walkthroughs to gain an understanding of the client's transaction processes as well as identifying internal controls within each process. This course will review the procedures, questions to ask, and documentation requirements of walkthroughs. It will also include real-world examples of the red flags that may arise when executing a walkthrough. Upon completion, learners will be able to: 1. Recall the purpose of a walkthrough 2. Perform proper procedures while conducting a walkthrough 3. Identify red flags that may arise while performing walkthrough procedures

Sampling is an important tool that improves the efficiency of audit engagements. During this course, we will take a deep dive into audit sampling for substantive testing. We will review the differences between statistical and non-statistical sampling approaches, discuss sampling risks, as well as what to consider when planning a sample for substantive testing. We will both define and walk through examples of all the different types of samples, and cover the factors that influence sample size. Upon completion, learners will be able to: 1. Describe the various sampling methodologies 2. Recall sampling risks 3. Identify the factors that influence sample size

When auditing management�s accounting estimates, increased professional skepticism is necessary as there is always the potential for bias in areas of increased subjectivity & complexity. This course will demonstrate procedures to test the process used by management to develop estimates, as well as walk through common examples of accounting estimates that are included in the financial statements. It includes the updated requirements in SAS 143. Upon completion, learners will be able to: 1. Perform audit procedures to obtain comfort over the reasonableness of management�s estimates 2. Recall circumstances that require accounting estimates

Stockholders� equity (or net position for nonprofits) presents unique risks to organizations. This course will cover the basics of auditing stockholders equity, including the related audit assertions, risks, & threats to the equity section of the balance sheet. During this course, we will also highlight the various substantive auditing procedures that staff should perform, and also walk through some real-world examples. Upon completion, learners will be able to: 1. Recall the audit assertions applicable to equity 2. Recognize risks & threats related to equity 3. Identify substantive auditing procedures that are used to obtain comfort over equity

Investments are important accounts on the balance sheet. This course will cover the foundation of auditing investments, including the related audit assertions, risks, & threats to the investments balance. During this course, we will also highlight the various substantive auditing procedures that staff should perform, and also walk through some real-world examples. Upon completion, learners will be able to: 1. Recall the audit assertions applicable to the investments balance 2. Recognize risks & threats related to the investments balance 3. Identify substantive auditing procedures that are used to obtain comfort over investments

According to the FASB, long-term debt are those shceduled to mature beyond one year from the date of an entity's balance sheet. This course will cover the basics of auditing long-term debt, including the related audit assertions, risks, & threats to long-term debt. During this course, we will also highlight the various substantive auditing procedures that staff should perform, and also walk through some real-world examples. Upon completion, learners will be able to: 1. Recall the audit assertions applicable to long-term debt 2. Recognize risks & threats related to long-term debt 3. Identify substantive auditing procedures that are used to obtain comfort over long-term debt

Payroll liabilities and related payroll expenses are extremely important to all entities. This course will cover the basics of auditing payroll & related liabilities, including the related audit assertions, risks, & threats to the payroll liability balance. During this course, we will also highlight the various substantive auditing procedures that staff should perform, and also walk through some real-world examples. Upon completion, learners will be able to: 1. Recall the audit assertions applicable to payroll liabilities 2. Recognize risks & threats related to payroll liabilities 3. Identify substantive auditing procedures that are used to obtain comfort over payroll liabilities.

Often OPEB and Pension liabilities are extremely large for governmental entities. This course will cover the basics of auditing pensions & OPEB liabilities, including the related audit assertions, risks, & threats to pension & OPEB liabilities. During this course, we will also highlight the various substantive auditing procedures that staff should perform, and also walk through some real-world examples. Upon completion, learners will be able to: 1. Recall the audit assertions applicable to pension and OPEB 2. Recognize the risks & threats related to pension and OPEB 3. Identify substantive auditing procedures that are used to obtain comfort over pensions & OPEB

It is imperative that audit staff understand the fundamentals of prepaid expenses. This course will cover the basics of auditing prepaid expenses, including the related audit assertions, risks, & threats to the prepaid expense balance. During this course, we will also highlight the various substantive auditing procedures that staff should perform, and also walk through some real-world examples. Upon completion, learners will be able to: 1. Recall the audit assertions applicable to prepaid expenses 2. Recognize risks & threats related to prepaid expenses 3. Identify substantive auditing procedures that are used to obtain comfort over prepaid expenses

It is essential that audit staff recognize the importance of the revenue & receivables balances. This course will cover the foundation of auditing revenues & receivables, icnluding the related audit assertions, risks, & threats to the revenue cycle. During this course, we will also highlight the various substantive auditing procedures that staff should perform, and also walk through some real-world examples. Upon completion, learners will be able to: 1. Recall the audit assertions applicable to revenue & receivables 2. Recognize risks & threats related to revenue & receivables 3. Identify substantive auditing procedures that are used to obtain comfort over revenue & receivables

The audit standards require auditors to understand their clients� accounting systems and internal controls. A great way to gain this understanding is by executing a walkthrough. This course will outline the parts of the cash cycle, walkthrough procedures that should be performed, and control deficiencies that are commonly identified while performing a walkthrough of the cash cycle. Upon completion, learners will be able to: 1. Perform procedures during walkthrough of the cash cycle 2. Recall the parts of the cash cycle 3. Identify common control deficiencies while performing a walkthrough of the cash cycle

The audit standards require auditors to understand their clients� accounting systems and internal controls. A great way to gain this understanding is by executing a walkthrough. This course will outline the parts of the debt cycle, walkthrough procedures that should be performed, and control deficiencies that are commonly identified while performing a walkthrough of the debt cycle. Upon completion, learners will be able to: 1. Perform procedures during walkthrough of the debt cycle 2. Recall parts of the debt cycle 3. Identify common control deficiencies while performing a walkthrough of the debt cycle

The audit standards require auditors to understand their clients� accounting systems and internal controls. A great way to gain this understanding is by executing a walkthrough. This course will outline the parts of the expenditure cycle, walkthrough procedures that should be performed, and control deficiencies that are commonly identified while performing a walkthrough of the expenditure cycle. Upon completion, learners will be able to: 1. Perform procedures during walkthrough of the expenditure cycle 2. Recall the parts of the expenditure cycle 3. Identify control deficiencies while performing a walkthrough of the expenditure cycle

The audit standards require auditors to understand their clients� accounting systems and internal controls. A great way to gain this understanding is by executing a walkthrough. This course will outline the parts of the inventory cycle, walkthrough procedures that should be performed, and control deficiencies that are commonly identified while performing a walkthrough of the inventory cycle. Upon completion, learners will be able to: 1. Perform procedures during walkthrough of the inventory cycle 2. Recall parts of the inventory cycle 3. Identify common control deficiencies while performing a walkthrough of the inventory cycle

The audit standards require auditors to understand their clients� accounting systems and internal controls. A great way to gain this understanding is by executing a walkthrough. This course will outline the parts of the investments cycle, walkthrough procedures that should be performed, and control deficiencies that are commonly identified while performing a walkthrough of the investments cycle. Upon completion, learners will be able to: 1. Perform procedures during walkthrough of the investments cycle 2. Recall parts of the investments cycle 3. Identify common control deficiencies while performing a walkthrough of the investments cycle

The audit standards require auditors to understand their clients� accounting systems and internal controls. A great way to gain this understanding is by executing a walkthrough. This course will outline the parts of the payroll cycle, walkthrough procedures that should be performed, and control deficiencies that are commonly identified while performing a walkthrough of the payroll cycle. Upon completion, learners will be able to: 1. Perform procedures during walkthrough of the payroll cycle 2. Recall parts of the payroll cycle 3. Identify common control deficiencies while performing a walkthrough of the payroll cycle

The audit standards require auditors to understand their clients' accounting systems and internal controls. A great way to gain this understanding is by executing a walkthrough. This course will outline the parts of the PP&E cycle, walkthrough procedures that should be performed, and control deficiencies that are commonly identified while performing a walkthrough of the PP&E cycle. Upon completion, learners will be able to: 1. Perform procedures during walkthrough of the PP&E cycle 2. Recall parts of the PP&E cycle 3. Identify common control deficiencies while performing a walkthrough of the PP&E cycle

The audit standards require auditors to understand their clients� accounting systems and internal controls. A great way to gain this understanding is by executing a walkthrough. This course will outline the parts of the revenue cycle, walkthrough procedures that should be performed, and control deficiencies that are commonly identified while performing a walkthrough of the revenue cycle. Upon completion, learners will be able to: 1. Perform procedures during walkthrough of the revenue cycle 2. Recall parts of the revenue cycle 3. Identify common control deficiencies while performing a walkthrough of the revenue cycle

This course is an introduction to preparation, compilation, & review engagements. During this course, we will compare and contrast these different engagements by reviewing the procedures that should be performed, different reports, as well as the level of assurance specific to each type of engagement. Upon completion, learners will be able to: 1. Recognize the difference between preparation, compilation, & review engagements 2. Identify the specific procedures related to preparation, compilation, & review engagements

Client interactions and professionalism are at the core of what we do as accountants. However, communication with clients is not always as straightforward as it may seem. Sometimes there will be difficult conversations and disagreements that can be tough to navigate. During this course, we will discuss best practices when communicating with the client, and also walk through complicated scenarios to practice what we learn. Upon completion, learners will be able to: 1. Recall best practices in professionalism during oral and written communication with clients

According to AU-C Section 315, the auditor should design procedures to test the appropriateness of journal entries recorded in the general ledger and other adjustments made in the preparation of financial statements. This course will review the different types of journal entries that an entity can record, as well as the various controls over recording journal entries. Additionally, this course will discuss both the assertions and substantive procedures that should be used to obtain comfort over journal entries. Upon completion, learners will be able to: 1. Recognize the risks and threats of adjusting journal entries 2. Recognize the controls over recording journal entries at an entity 3. Identify the substantive procedures that should be used to obtain comfort while testing journal entries

Per AU-C Section 500, audit evidence is all the information used by the auditor in arriving at the conclusions on which the audit opinion is based. During this course, we will take a deep dive into evaluating the sufficiency and appropriateness of audit evidence as updated by SAS 142. In addition, we will discuss the relevance and reliability of audit evidence, as well as the sources of audit evidence and techniques for collecting evidence. Upon completion, learners will be able to: 1. Identify the sufficiency and appropriateness of audit evidence while performing an engagement 2. Describe the relevance and reliability of audit evidence 3. Recall techniques for collecting audit evidence on engagements

Data analytics have become a hot topic in recent years. Over the past decade, data analytics have been increasingly added to accounting curriculums at universities, and elements of data analytics have also been incorporated into CPA exam questions. During this course, we will cover the various data analytics tools that can be used to efficiently assess data, as well as best practices to properly utilize data analytics on engagements. Upon completion, learners will be able to: 1. Recognize the best practices when utilizing data analytics on engagements 2. Identify different data analytics tools and their use cases

Analytical procedures are an important part of substantive testing. This course will highlight the different types of analytical procedures that can be utilized during engagements. We will also discuss the steps to properly perform analytical procedures, and ensure they are properly documented. We will also review the differences between preliminary and final analytics performed during audit engagements. Additionally, we will walk through different scenarios of when to use each analytical procedure. Upon completion, learners will be able to: 1. Recall the various types of analytical procedures that can be used as substantive testing 2. Describe the steps to properly perform analytical procedures 3. Recall the differences between preliminary and final analytics on engagements

Often the work of a specialist is needed during an engagement. During this course we will review situations when an auditor�s specialist should be used, the documentation requirements for using a specialist in audit workpapers, as well as requirements for evaluating the work of a specialist. Upon completion, learners will be able to: 1. Identify situations when the auditor should utilize the work of a specialist 2. Describe the documentation requirements in audit workpapers when the work of a specialist is used 3. Recall the auditor requirements for evaluating the work of a specialist

The promotion from associate to senior associate is a huge adjustment. Senior associates are expected to delegate tasks to staff, are more involved in both project management and client communication, and also need to provide feedback to staff. This course will serve as a guide for how to fulfill the new responsibilities of a senior associate, as well as covering time management skills to ensure that these new responsibilities and expectations are being met. Upon completion, learners will be able to: 1. Recall the best practices in project management necessary for senior associates 2. Perform effective performance evaluations of staff

Upon completion, learners will be able to: 1. Recall common deficiencies in risk assessment 2. Recognize requirements in risk assessment 3. Recall impact of SAS 145 to audit methodology

Upon completion, learners will be able to: 1. Recall the requirements of AU-C 240 2. Identify parts of the fraud triangle

Upon completion, learners will be able to: 1. Identify the impact of ASU 2016-13 2. Recall internal controls for CECL 3. Recall risk assessment considerations for CECL 4. Recall auditing procedures for CECL

Upon completion, learners will be able to: 1. Recall the audit assertions applicable to leases 2. Recognize the risks & threats to leases 3. Recall internal controls applicable to leases 4. Identify substantive auditing procedures that are used to obtain comfort over leases

Upon completion, learners will be able to: 1. Recall the requirements of AU-C Section 260 2. Identify components of the communication process

Upon completion, learners will be able to: 1. Recall the auditing requirements for contingencies 2. Recall the auditor's responsibilities for evaluating the appropriateness of going concern accounting and disclosure 3. Recall examples of contingencies 4. Recall adverse conditions and events

Upon completion, learners will be able to: 1. Recall the data and trends from the 2024 ACFE Report to the Nations 2. Identify recent frauds in the news 3. Identify examples of occupational fraud

Upon completion, learners will be able to: 1. Recall best practices while reviewing workpapers 2. Recall common deficiencies while reviewing workpapers

Upon completion, learners will be able to: 1. Recall how to manage time effectively 2. Identify common time management strategies

Upon completion, learners will be able to: 1. Identify the purpose of the internal audit function 2. Recall the requirements for using the internal auditor to obtain audit evidence 3. Recall the requirements for using the internal auditor to provide direct assistance

Upon completion, learners will be able to: 1. Recognize the purpose of peer review 2. Recall the components of QC 10 3. Recall the types of reports 4. Identify the key elements of a peer review