Audit staff essentials new staff practical application

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Audit Staff Essentials - Level 2 - New Staff: Practical Application (Complete Bundle) 2024

As you take on new audit roles and responsibilities, you’ll want to have in place a strong conceptual groundwork for all future audit learning.

Part of Audit Staff Essentials (ASE), Level 2: New Staff: Practical Application focuses on the skills and knowledge needed to perform duties commonly assigned to first-year audit staff.

Level 2 covers the audit process, including practical, hands-on training for internal controls, substantive testing, fraud considerations, analytical procedures, and much more.

• Introduction to Analytical Procedures in an Audit
• Fundamentals of Using Data Analytics in an Audit
• Fraud Considerations in a GAAS Audit
• Auditing Cash and Cash Equivalents
• Auditing Accounts Receivable
• Auditing Inventory
• Auditing Prepaid and Other Current Assets
• Auditing Property, Plant, and Equipment and Leases
• Auditing Accounts Payable and Accrued Expenses
• Auditing Debt

Learning Objectives

• Recall the basics of internal control, including using the work of others.
• Identify the key concerns regarding fraud considerations in a GAAS audit.
• Recall the purpose and procedures regarding analytical procedures and their use in an audit.
• Identify the audit procedures typically performed by new staff in the following areas and match them to stated audit objectives and relevant assertions:
• Cash and cash equivalents
• Accounts receivable
• Inventory
• Prepaid and other current assets
• Property, plant, and equipment
• Accounts payable
• Debt

Major Topics

• Internal controls
• Fraud considerations
• Analytical procedures
• Basic auditing procedures for areas commonly assigned to new staff members