Audit Staff Essentials - New Staff: Practical Application

Foundational audit knowledge

You will need a strong fundamental understanding of audit concepts as you take on new audit roles and responsibilities. Audit Staff Essentials (ASE), Level 2 focuses on the skills and knowledge needed to perform duties commonly assigned to first-year audit staff.

Practice the basic concepts essential to your role

You will learn the audit process through practical, hands-on training related to internal controls, substantive testing, fraud considerations, analytical procedures, and much more. Level 2 courses include:

• Introduction to Internal Controls
• 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 and the Allowance for Doubtful Accounts
• Auditing Inventory and Inventory Valuation
• Auditing Prepaid and Other Current Assets
• Auditing Property, Plant, and Equipment
• Auditing Accounts Payable and Accrued Expenses
• Auditing Debt

Start your career off right

When taken together with Level 1 - New Staff: Core Concepts, this level will help you become a successful auditor and firm member right from the start!

About Audit Staff Essentials - Taking you on your audit learning journey.

From start to finish, Audit Staff Essentials (ASE) provides the training roadmap and support you need along your career journey. Designed to help you master your current position and excel in each phase of your career, this self-study series offers four levels that cover hands-on technical skills, conceptual expertise, and soft skill training.

Regularly refreshed, this series is perfect for individual staff members or as a comprehensive group training program for firms.

Get ready to position yourself or your staff members to become successful auditors and essential firm members. Levels include:

• Level 1 - New Staff: Core Concepts
• Level 2 - New Staff: Practical Application
• Level 3 – Experienced Staff/New In-Charge
• Level 4 – Experienced In-Charge/Senior

Who Will Benefit

• Recently onboarded staff
• First-year staff
• Firms that want consistent training and level setting

Key Topics

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

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 potential of audit data analytics and areas where these procedures can be effective.
• Identify the audit procedures typically performed by new staff in the following areas: cash and cash equivalents; accounts receivable; inventory; prepaid and other current assets; property, plant, and equipment; accounts payable; debt