OasisLMS

Overcoming the challenges of an in-charge auditor

Several challenges and opportunities accompany the in-charge auditor position. You can prepare for these challenges by considering a few general concepts in greater depth, including:

• Audit risk
• Audit strategy
• Facets and testing of controls
• Designing and performing substantive procedures
• Summarizing audit results

Understanding the entity and its environment

You will also examine elements of the risk assessment process, including:

• Identifying and understanding risks of material misstatement at the financial statement and relevant assertion levels
• Examining the relationship between risk assessment procedures and further auditing procedures
• Linking risks and procedures such as control testing

Learning Objectives

• Determine key components of the audit risk model and audit strategy.
• Identify the considerations regarding testing controls, including gathering evidence of effectiveness, assessing deficiencies, and communicating findings.
• Identify the considerations for designing and performing substantive procedures, including
  substantive analytical procedures and substantive tests of details.

Key Topics

• Audit risk model
• Audit strategy
• Control testing
• Substantive testing
• Summarizing audit results

Who Will Benefit

• Experienced staff
• New in-charge auditors
• Firms that want consistent training and level setting