Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
Using case studies, participants will learn how to effectively and efficiently document audit work using PEG forms and memos. Problem areas encountered in practice and often reported in the provincial practice inspection findings will be addressed. These issues include identifying risks, developing fraud scenarios and responding to such risks by identifying relevant internal controls; and learning practical guidance on the extent of testing.
This course will take participants through each of the steps involved in performing a non-complex audit. These steps include accepting the client, understanding the entity, determining materiality, planning, identifying and responding to risks, customizing work programs, testing, monitoring ongoing work, and documenting working papers. The final step involves the timely communication of findings internally and then to the client.
Topics Include:
- An overview of PEG and its objectives, including the PEG 12-step audit process
- Application of professional skepticism
- Understanding and documenting the 5 internal control elements including IT application and general controls
- Risk assessment and engagement planning activities
- Risk response, including developing the audit strategy and work programs, documenting the work performed, and evaluating evidence obtained
- The formation of an opinion and the responsibility to communicate results with management and those charged with governance
- Keys to a successful audits
NOTE: This course description has been revised and reflects updates for 2023. If you have any questions, please contact pdevents@cpaontario.ca
Key Takeaways
By the end of this course, participants will learn:
- The steps/activities involved in performing an audit from start to finish
- Ideas to simplify key requirements such as understanding internal control
- An audit approach and plan that will save audit time
- How to design efficient audit tests
- Various ways to document audit findings and evidence obtained
Who Will Benefit
The seminar targets practitioners and professional staff who seek a review of how to perform an audit efficiently and effectively using PEG.
Prerequisite Knowledge
Participants should be familiar with the CPA Handbook – Assurance and have some experience with performing audits.
How to Access the Course
To access the course please visit our BlackBoard site, and log-in using the same login and password used for the Registration Portal.
Please allow up to 15 minutes after registration for the course to appear on your BlackBoard page.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.