Staff Level 3 - In-Charge (2 Days)

*Updated for SAS 103 Audit Documentation, Risk Assessment SASs, and SSARS 10*

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Many accountants find “doing” much easier than delegating.  This program concentrates on building supervision and engagement management skills.  It also addresses:

• Reviewing documentation

• Writing review comments

This course includes the one day program, Tips on How to Review Documentation Effectively.

Designed For
Staff with in-charge responsibility (over two to three years of experience).

Objective
Participants will be able to:

• Plan and tailor the engagement under the new risk assessment standards.

• Supervise staff.

• Perform an effective review of documentation.

• Document the review process.

• Communicate documentation deficiencies to staff.

• Understand the different review responsibilities for the in-charge, supervisor and partner.

Role of the in-charge… Engagement and time management… Planning considerations, including fraud risk assessment, and the risk of material misstatement… New documentation requirements under SAS 103-111 and SSARS 10 requirements…  Common documentation problems… Approaches to workpaper review...  Effective communication techniques that boost morale, not deflate it… Documentation of the review process.

Presentation Method: Lecture, role play, and group discussion of cases involving a review of review and audit documentation.

Level of Knowledge:  Intermediate

Prerequisites: None

Recommended CPE Credit:  16 hours

Field of Study: Auditing

Advance Preparation: None

Availability Date:  07/1/2008

Author(s): John Fleming, CPA and Margaret Loscalzo, CPA

Day 1 topics: “Planning Cost Efficient And Effective Audits (4 hours)” qualifies for 24 hour Yellow Book requirement.  Determination as to the qualification of certain courses for the Yellow Book 24 hour requirement should be made on an auditor specific basis depending on that auditor’s Yellow Book clients.  Note that the determination of course qualification is a matter of an auditor’s professional judgment in consultation with appropriate individuals in the audit firm.