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  5. AuditWatch University | Training for audit professionals at all levels

AuditWatch University

Develop your audit staff from entry-level to senior management with seven levels of progressive training

Training for every level of audit professional

Choose the education that matches each professional's experience, and prepares them for the next step in their career

Register early to save

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Register by May 19, 2021, and save 15% on each course. After that, register before June 15, 2021, to save 10%.

Basic Staff Training


Course details

This session helps new auditors get off to a great start, introducing them to the auditing field and basic audit responsibilities. The course includes case studies in common audit areas typically completed by staff accountants and provides an overview of how each area fits into the big picture.

Duration: Three days in person, four days virtual
Prerequisite: Less than 1 Year Experience
Level of Instruction: Basic
Delivery Method: Group-Live or Group Internet Based
CPE Credits: 24 Credits
Field of Study: Auditing, Communications & Marketing
Price: $960

Virtual Schedule

  • July 12 - 15 
  • September 20-23 
  • October 4-7 
  • November 1-4 
  • December 6-9

Learning objectives

After the session, participants should be able to:

 
 
Responsibilities of Staff Accountants

  • Describe key differences between types of engagements (audits, reviews, compilations and preparations) and the performance of accounting services
  • Recognize the purpose of an audit
  • Distinguish between attest procedures and assurance procedures
  • Describe tips for professionalism in the role of the staff auditor
  • More confidently execute your role and responsibility as an effective engagement team member

 
 
Workpapers and Documentation

  • Explain the requirements of AU-C 230, Audit Documentation
  • Create, organize, and prepare audit workpapers

 
 
Introduction to the Audit Plan

  • Describe the key phases of the audit plan
  • List basic requirements of risk assessment procedures
  • Discuss how to gain an "understanding" of the client's internal controls, including the performance of walkthroughs
  • Discuss the objectives and contents of the key planning forms
  • Identify ways auditors obtain audit evidence through the performance of accepted audit procedures

 
 
Analytical Procedures

  • Describe the purpose of an analytical procedure
  • Characterize the role of analytical procedures in audits and reviews
  • Identify the key steps in performing substantive analytics
  • Properly document substantive analytics

 
 
Common Audit Areas

  • Identify and explain the audit objectives and audit risk of accounts receivable, cash, accounts payable, and debt
  • Perform common audit procedures and explain how the procedures address documented risks and assertions

Experienced Staff Training


Course details

This session introduces auditors to the complete audit process and plan. It focuses on ways for staff and senior accountants to significantly participate in the risk assessment procedures, including efforts surrounding internal controls. In addition, significant time is spent on performance of further audit procedures, including test details such as sampling, auditing estimates, and analytical procedures. Finally, the course includes discussions of select technical accounting, auditing, advanced documentation, and business skills.

Duration: Three days in person, four days virtual
Prerequisite: 1-2 Years Experience
Level of Instruction: Intermediate
Delivery Method: Group-Live or Group Internet Based
CPE Credits: 24 Credits
Field of Study: Accounting, Auditing
Price: $960 virtual, $1249 in-person

Virtual Schedule

  • June 28 - July 1 
  • July 26 - July 29 
  • August 9 - August 12 
  • August 30 - September 2 
  • October 4 - 7 
  • November 1-4 
  • November 29 - December 2 

In-Person Schedule

  • July 27 - 29, Chicago 
  • August 31 - September 2, Chicago 
  • October 5-7, Las Vegas 
  • November 2-4, Chicago 
  • December 14-16, Las Vegas 
  • January 11-13, 2022, Las Vegas

Learning objectives

After the session, participants should be able to:

 
 
The Audit Plan

  • Assist the team in gaining, updating, and documenting their understanding of the entity and its environment, including internal controls
  • Begin to better identify and document risks of material misstatement using an understanding of the entity and its environment, including internal controls
  • Participate more confidently in the risk assessment process

 
 
Sampling & Other Substantive Tests of Detail

  • Describe various tests of details
  • Describe common audit approaches when using tests of details
  • Select the appropriate audit approach
  • Plan and implement the selected approach, including nonstatistical sampling

 
 
Financial Reporting

  • Prepare a statement of cash flows
  • List and identify common issues encountered while preparing and updating the financial statements

 
 
Auditing Estimates and Accruals

  • Identify common estimates and accruals

  • List three general approaches to auditing estimates

  • Determine the approach most likely to be selected for a given estimate

 
 
Substantive Analytical Procedures

  • Apply the principles of performing substantive analytical procedures

  • Analyze differences from expectations

  • Properly document substantive analytics

 
 
Fundamentals of Audit Documentation

  • List the requirements of AU-C 230, Audit Documentation
  • Identify ways to meet the audit "reperformability" standard
  • Explain the difference between required and optional documentation
  • Describe the difference between evidence and documentation

 
 
Accounting and Review Services

  •     Describe the differences between compilation, review and preparation engagements
  •     List and communicate management’s responsibilities versus the accountant’s responsibilities
  •     Summarize the requirements in each type of engagement
           ◦ Performance
           ◦ Documentation
           ◦ Reporting

 
 
Introduction to Employee Benefit Plan Auditing

  • List audit procedures performed in employee benefit plan audits
  • Describe differences between financial statement and employee benefit plan audits
  • Identify unique compliance auditing requirements for employee benefit plans

Beginning In-Charge Training


Course details

This session prepares auditors to take in-field responsibility for an audit engagement. It mixes discussion with case studies to provide an in-depth look at designing and completing the key steps in an audit. There is heavy focus on completing the risk assessment procedures and making appropriate risk assessments. We include case study work on understanding, evaluating, and verifying a client’s activity level controls within key business cycles. This session also includes multiple interrelated modules on key business skills used by in-charge accountants, including supervising individuals and reviewing files.

Duration: Three days in person, four days virtual
Prerequisite:  2-3 Years Experience
Level of Instruction: Intermediate
Delivery Method: Group-Live or Group Internet Based
CPE Credits: 24 Credits
Field of Study: Auditing, Communications & Marketing
Price: $960 virtual, $1249 in person

Virtual Schedule

  • July 19-22 
  • August 16-19 
  • September 27-30 
  • October 18-21 
  • November 15-18 
  • November 29 - December 2

In-Person Schedule

  • July 13-15, Chicago 
  • August 17-19, Chicago 
  • September 28-30, Las Vegas 
  • October 19-21, Chicago 
  • November 16-18, Las Vegas 
  • December 7-9, Chicago 
  • January 11-13, 2022, Las Vegas

Learning objectives

After the session, participants should be able to:

 
 
Reviewing Workpapers

  • List the requirements of AU-C 230, Audit Documentation
  • Describe the purpose of a detailed review
  • Perform a detailed review
  • Write productive review notes

 
 
Planning Your Audit

  • Gain an understanding of the entity and its environment, including internal controls
  • Assess risks of material misstatement at the overall and assertion levels
  • Facilitate an engagement team meeting
  • Design sufficient and appropriate audit procedures to respond to the assessed risks

 
 
Communication Skills

  • List challenges to good communication
  • Clearly communicate to staff and others
  • Listen actively to increase understanding of essential information

 
 
Super Staff Supervision

  • Describe the importance of effective supervision
  • Identify and apply different teaching methods
  • Describe the need for and the process of delegation

 
 
Effective Analytics

  • Describe the principles of designing great substantive analytical procedures
  • List common sources for developing independent expectations
  • Document results of substantive analytical procedures

 
 
Engagement Tips

  • List key principles for creating effective “prepared by client” lists
  • List efficient engagement wrap-up techniques and describe in what situations they might be most effective
  • Describe basic engagement economic terms and concepts including techniques for communicating engagement status

Experienced In-Charge Training


Course details

This course moves experienced auditors beyond the basics. It builds upon experiences with running engagements and provides insights and best practices on supervising, motivating, and evaluating team members. The course challenges experienced auditors to improve the effectiveness and efficiency of their audit engagements through exercises and case studies on common audit scenarios. It also provides an in-depth look at audit tasks typically performed by more experienced team members, such as evaluating design of controls, responding to risks, designing audit programs, and tests of controls.

Duration:  Three days in person, four days virtual
Prerequisite:  3-4 Years Experience
Level of Instruction: Intermediate
Delivery Method:  Group-Live or Group Internet Based
CPE Credits:  24 Credits
Field of Study:  Auditing
Price: $960 virtual, $1249 in person

Virtual Schedule

  • July 12-15 
  • August 23-26 
  • September 20-23 
  • October 18-21

In-Person Schedule

  • September 21-23, Chicago 
  • October 19-21, Chicago 
  • November 16-18, Las Vegas

Learning objectives

After the session, participants should be able to:

 
 
Advanced Topics in Audit Planning

  • Identify critical auditing concepts to teach to engagement team members
  • Identify more complex areas in planning that impact the entire audit engagement
  • Effectively and efficiently gain an “understanding” of internal controls
  • Share best practices in facilitating planning meetings
  • Leverage budgets to maximize realization and firm profits
  • Describe techniques to more effectively communicate engagement status

 
 
Creating and Modifying Audit Programs

  • Evaluate audit procedures for effectiveness in achieving audit goals
  • Facilitate the development and customization of further audit procedures

 
 
The Supervision Competency

  • Define competency and list its components
  • Share, reflect upon, and self-assess supervisory skills
  • Address concerns and challenges, including:
            ◦ Selecting an appropriate leadership style
            ◦ Managing subordinates
            ◦ Providing oral and written feedback to staff

 
 
Considering and Designing Tests of Controls

  • Determine when to test operating effectiveness of controls
  • List methods available to test controls
  • Design tests of controls

 
 
Designing Better Analytics

  • Evaluate analytics for effectiveness in achieving audit goals and efficiency opportunities
  • Document results of substantive analytical procedures
  • Teach your engagement team how to better develop, execute and interpret analytical results

 
 
Identifying and Responding to Fraud Risks

  • List common fraud risks at small companies
  • Design tailored audit responses to fraud risks
  • Identify specific tests to search for fraud
  • Consider the use of technology in fraud responses

 
 
Evaluating, Concluding, and Reporting

  • Evaluate misstatements and control deficiencies and perform required responses
  • Explain the requirements of, evaluate and report in compliance with AU-C Section 265, Communicating Internal Control Related Matters
  • List resources that generate insightful management letter comments
  • Use a structured model to draft control deficiencies and business advice comments for management

 
 
Auditing Revenue

  • Understand the basic GAAP guidance around recognizing, measuring and disclosing revenue
  • Recognize risks of material misstatement related to revenue recognition
  • Apply professional standards in devising an audit strategy to audit revenue transactions

Beyond In-Charge: Taking the Next Step


Course details

This course prepares experienced auditors to take the next step in their development as engagement and firm leaders.  Building on the concepts introduced in Level 4: Experienced In-Charge Training, the course challenges auditors to champion the audit process by developing efficient audit plans, managing the audit process, working with clients, dealing with complex accounting and audit issues. Course material also addresses key issues in performing review and compilation engagements, using special purpose frameworks, and recognizing advanced financial reporting issues.

Duration:  Three days in person, four days virtual
Prerequisite:  4-5 Years Experience 
Level of Instruction:  Intermediate
Delivery Method:  Group-Live or Group Internet Based
CPE Credits:  24 Credits
Field of Study:  Auditing, Accounting, Communication & Marketing, Personal Development
Price:  $960 virtual, $1249 in-person

Virtual Schedule

  • July 26-29

In-Person Schedule

  • October 19-21, Chicago 
  • November 2-4, Las Vegas

Learning objectives

After the session, participants should be able to:

 

Introduction

  • Expand and take ownership over the entire audit process by integrating audit efficiency best practices
  • Demonstrate better problem-solving techniques for complex financial reporting, auditing, and accounting issues as well as issues related to Compilations, Reviews, and Preparation engagements
  • Identify supervision techniques to better communicate and coach within work teams

 
 
Introduction to Presentations

  • List the characteristics of effective presenters
  • Develop presentations for delivery to client management and audit committees
  • Identify common presentation crutches and shortfalls

 
 
Project Management Tools for Auditors

  • Define the common phases of a project in the public accounting environment
  • Share techniques to improve meeting effectiveness and efficiency
  • List actions and strategies, including delegation, for better management of your audits and projects

 
 
Meeting Effectiveness

  • Share techniques to improve meeting effectiveness and efficiency
  • Make your meetings more productive
  • Build consensus, handle conflict and keep meetings on track

 
 
Motivating Your Team

  • Empower and motivate staff to handle more difficult assignments

 
 
Developing the Overall Audit Strategy

  • Assist in the development of the Overall Audit Strategy as required by AU-C 300
  • Describe various components of the overall audit strategy including group audit strategy, and using the work of others

 
 
Attest Services for Smaller Entities

  • List and describe considerations as a reviewer for Review, Compilation, and Preparation engagements
  • Recognize efficiency considerations related to Compilations, Reviews, and Preparation engagements

 
 
Audit Efficiency Best Practices

  • Describe and teach basic audit concepts to staff 
  • Perform more efficient and effective engagements
  • Share ideas with your firm and with your teams to look at engagements in different way

 
 
Recognizing Financial Reporting, Auditing, and Accounting Issues

  • Recognize when complex technical issues might indicate a risk of material misstatement
  • List and describe ways to identify technical auditing and accounting issues early to improve efficiencies
  • List and describe significant new accounting or auditing pronouncements and the audit risks they may introduce

 
 
Advanced Topics in Audit Sampling

  • List commonly used sampling units
  • Effectively and efficiently stratify a sample population
  • Evaluate errors and sampling results
  • Consider sampling risk to make audit conclusions
  • Describe how to sample income statement accounts

 
 
General Planning and Completion Procedures

  • Apply advanced concepts in performing General Auditing Procedures
  • Recognize requirements related to commitments, contingencies, legal confirmations, related parties, subsequent events, going concern, and more
  • Discuss additional general planning considerations

 
 
Summary: Best Practices

  • List action steps to utilize course content in practical situations on engagements
  • Summarize the key learning points of the course

Leadership I: Everyday Essentials


Course details

In this highly interactive course, advancing professionals develop essential, results oriented leadership skills to boost individual and firm success. Topics include foundational leadership principles, DEI (diversity, equity and inclusion), goal setting and prioritization, collaborative negotiation, presentation skills, mindfulness, and business development skills.

Duration:  Three days in person, four days virtual
Prerequisite:  Current or future leadership responsibility
Level of Instruction:  Advanced
Delivery Method:  Group-Live or Group Internet Based
CPE Credits:  24 Credits
Field of Study:  Personal Development, Communications & Marketing
Price:  $960 virtual, $1249 in-person

Virtual Schedule

  • August 2-5 
  • November 1-4

In-Person Schedule

  • October 19-21, Las Vegas 
  • November 16-18, Chicago 
  • December 14-16, Las Vegas

Learning objectives

After the session, participants should be able to:

 
 
Introduction

  • Identify current and upcoming roles and responsibilities that require strong, competent leadership

 
 
Leadership Essentials

  • Recognize your role as a leader 
  • Self-assess your leadership style
  • Discuss ways to improve your personal leadership skills
  • Identify ways to become a better mentor / coach

 
 
Diversity, Equity and Inclusion

  • Recognize and critically reflect upon potential cultural biases
  • Foster an inclusive firm culture that embraces diversity ang engages across differences with empathy and integrity

 
 
Goal Setting and Prioritization

  • Identify personal time management techniques
  • Practice techniques to effectively identify, rand, and choose priorities
  • Apply a structured model to set and achieve goals

 
 
Collaborative Negotiation

  • Describe and apply collaborative negotiation skills that enable business success
  • Define skills to handle challenging conversations

 
 
Presentation Skills

  • List and explore the characteristics of effective presenters
  • Use proven techniques to organize and deliver engaging presentations

 
 
Business Development Skills

  • Identify the three primary practice development goals
  • Describe ways to retain existing clients and expand product / service offerings to them
  • Explore techniques to create new business opportunities
  • List best practices for creating a personal client development plan

 
 
Mindfulness

  • Describe and apply the basic principles of mindfulness to leadership, management and client relationships
  • Practice the key steps of the 8-minute daily CPA Mindfulness Practice as developed by Mindful-CPA
  • Apply mindfulness to everyday activities at your firm to achieve health and work balance in the short term
  • Use ongoing support and tools from www.mindful-cpa.com

 
 
Summary

  • Identify best practices
  • Share insights with fellow participants

Leadership II: Expanding Capabilities


Course details

This engaging course expands the participant’s professional leadership capabilities. Topics include developing executive presence, using emotional intelligence to achieve success, managing in the multi-generational workplace, performance and talent management, DEI (diversity, equity and inclusion), mindfulness and building new business.

Duration:  Three days in person, four day virtual
Prerequisite:  Leadership 1: Everyday Essentials
Level of Instruction:  Advanced
Delivery Method:  Group-Live or Group Internet Based
CPE Credits:  24 Credits
Field of Study:  Personal Development, Personnel/Human Resources, Communications & Marketing, and Behavioral Ethics
Price:  $960 virtual, $1249 in person

Virtual Schedule

  • November 29 - December 2

In-Person Schedule

  • December 14- 16, Las Vegas

Learning objectives

After the session, participants should be able to:

 
 
Introduction

  • Identify and explore the fundamentals of Executive Presence

 
 
Developing Executive Presence

  • Identify the elements of executive presence
  • Analyze strengths and weaknesses by completing executive presence component self-assessment
  • Apply enhanced communication techniques to build and maintain trust

 
 
Diversity, Equity, and Inclusion

  • Recognize and critically reflect upon potential cultural biases
  • Foster an inclusive firm culture that embraces diversity and engages across differences with empathy and itnegrity

 
 
Using Emotional Intelligence to Achieve Success

  • Recognize the main components of Emotional Intelligence (EI)
  • Practice EI fundamentals through a series of interactive discussions and exercises after an in-depth selfassessment
  • Explain how EI is applied to enhance work relationships, performance, and productivity

 
 
Generational Workplace

  • Describe the generations that make up the current workforce
  • Explore key differences, characteristics, and behaviors of each generation
  • Learn techniques and strategies for effective interactions with multi-generational teams

 
 
Performance and Talent Management

  • Identify and explore the dynamics of performance and talent management in the public accounting industry
  • Explain how to identify and develop talent in individuals to maximize their performance and professional growth
  • Gain insight on best practices to develop and retain staff

 
 
Building New Business

  • Explore important concepts related to developing new business
  • Apply structured techniques to plan for and develop business growth
  • Practice the art of gaining new business through a series of interactive skill-building activities

 
 
Mindfulness

  • Describe and apply the basic principles of mindfulness to leadership, management, and client relationships
  • Practice the key steps of the 8-minute daily CPA Mindfulness Practice as developed by Mindful- CPA
  • Apply mindfulness to everyday activities at your firm to achieve health and work balance in the short term
  • Use ongoing support and tools from www.mindful-cpa.com

 
 
Summary

  • Summarize the key learning points of this course
  • Share insights with other participants