Republic of the Philippines

Don Mariano Marcos Memorial State University

Mid-La Union Campus
College of Graduate Studies-Open University
City of San Fernando 2500 La Union Philippines

CUSTOMIZED AUDIT
SKILLS
TRAINING PROGRAM

Name : ASENCI, Arlea O.

Subject : Public Personnel Administration (DAF 227)
Topic: : Training Design
Professor : Dr. Cynthia C. Sampaga
I. Training Title: Customized Audit Skills Training Program

II. Program Overview

The Audit Skills Training Program is an amazing course for the beginners. It will enable them to understand all the
important concepts in the best manner. Audits play an imperative role in all firms and the necessity of understanding the
procedure has become vital presently. In the present time, banks deal with several products unlike just the basic functions of
depositing and giving loans in the earlier time. In this course, one can study in a detailed manner about small to major points
based on audits. The purpose and importance of planning will be taught in this course sessions. You will come to know how
planning assists the audit team to complete the audit assignment comfortably without any obstacles.

The Audit Skills Training Program consists of more than fifty (50) 2-hour audit modules that can be combined in any
way to meet your firm’s specific needs. All core modules are available in multiple delivery formats, enabling you to tailor your
program based upon your time constraints and budget. Every module, in all delivery formats, includes a combination of lecture
and interaction (e.g., case studies, exercises, discussion questions, etc.) to provide the most dynamic learning experience
possible.

The program provides a suggested curriculum that includes seven levels, tailored for skill levels from new hires
through managers. However, you are both empowered and encouraged to mix-and-match the content to address your specific
knowledge voids, time constraints, and budget. Optional self-study homework may be added to each core module, which
provides one additional hour of credit. Self-study homework sections contain learning questions and exercises to reinforce
concepts

. A follow-up on demand webinar is provided to debrief the homework and reinforce key learning points. A final exam
contains questions that test the participant’s retention and provide a means of evaluating the quality of the training to meet your
developmental needs.
III. Goals and Objectives of Audit Training:

The main objective of the training course is to teach the participants how to audit from new hires levels to managerial
and supervisory levels. The training course is specially designed in such a way that the auditors within the financial institutions
could perform their job appropriately without any difficulties. The course comprises of the skills that are required to perform
auditing and audit projects effectively within your firm.

The course teaches you how to design the audit programs for several audit assignments that are in accordance to the
financial institution. Apart from these functions the goals and objectives of the course are listed below:

 To enhance the efforts of any firm to carry out the transactions with an internal check along with other verifications
and acquiescence with processes laid down.
 To advance the efficiency of coexisting audit system
 To develop the quality and coverage of coexisting audit reports.
 Identifying the problems in the cash flow
 Evaluating and considering the risks
 Evaluation of Returns on accounts
 Evaluating efficiency of controls
 Determining the array of chance for the improvement
IV. AUDIT TRAINING SKILLS PROGRAM DETAILS
DAY TIME CONTENT OUTLINE PRESENTATION METHODS HANDOUTS/MATERIALS

Welcome and Introductions Introductions: Briefly  

15 introduce self, training
Day 1
MINS. objectives for training session,
Introduction of instructor and and training agenda.  
participants.
Review Training Objectives  
1 - Transitioning to the
1 Code of Conduct
Professional World
1 hr.
2 - Independence – Nonattest and
  Code of Conduct
Attest Services
Materials
1 1 hr. Compliance and Regulatory Reporting 3 - Special Audit Engagements • Newsprint/ Handouts
• Markers
4 - Desired Traits of Entry-Level • Tape
  Traits of a Star Performer
Auditors
1 hr.
5 - Desired Traits of In-Charges,
1 Traits of a Star Performer
Seniors, & Supervisors
  1 hour Lunch Break
6 - Performing Research - FASB
  Research
1 hr. Codification
1 Fraud Risk Considerations 7 - Professional Skepticism
8 - Assessing Fraud Risk in a
  1 hr. Fraud Risk Considerations Materials
Financial Statement Audit
• Newsprint/ Handouts
9 - Fraud in Smaller and Mid-
1 1 hr. Fraud Risk Considerations • Markers
Size Environments
• Tape
10 - The Nature of Compilations,
1 Compilations and Reviews
Reviews, & Audits
1 hr.
11- Performing Effective &
1 Compilations and Reviews
Efficient Compilations and
DAY TIME CONTENT OUTLINE PRESENTATION METHODS HANDOUTS/MATERIALS
Reviews
Introductions: Briefly
summarize the yesterday's
30
Day 2 Recall/ Wrap Up of 1st Day's Activity activities, training objectives  
MINS.
for training session, and
training agenda.
2 1 hr. Audit Documentation and Review 12 - Audit Documentation Basics
13 - Responsibilities When
  Audit Documentation and Review
Reviewing Work Papers Materials
1 hr.
14 - Reviewing Work Papers - • Newsprint/ Handouts
2 Audit Documentation and Review • Markers
Avoiding Deficient Audits
2 Risk-Based Audit Concepts 15 - The Basic Audit Concept • Tape
1 hr. 16 - Identifying and Evaluating
2 Risk-Based Audit Concepts
Audit Risk
  1 hour Lunch Break
17 - Assessing Risk for a Higher
2 1 hr. Risk-Based Audit Concepts Materials
Quality Audit
Internal Controls & Related 18 - Internal Control • Newsprint/ Handouts/
2 1 hr. Exercise
Communications Fundamentals
• Markers
Internal Controls & Related 19 - Internal Control Testing for
2 1 hr. • Tape
Communications Operating Effectiveness
Internal Controls & Related 20 - Internal Control Advanced
2 1 hr.  
Communications Concepts
Introductions: Briefly
summarize the yesterday's
30
Day 3 Recall/ Wrap Up of 2nd Day's Activity activities, training objectives  
MINS.
for training session, and
training agenda.
Internal Controls & Related 21 - Communicating Internal Materials
3 1 hr.
Communications Control Deficiencies s • Newsprint/ Handouts
DAY TIME CONTENT OUTLINE PRESENTATION METHODS HANDOUTS/MATERIALS
Internal Controls & Related 22 - Value Added Internal
3 1 hr.
Communications Control Communication • Markers
23 - Auditing Cash and Cash • Tape
3 1 hr. Cash & Investments
Equivalents
  1 hour Lunch Break
24 - Auditing Common
3 1 hr. Cash & Investments
Investments
Materials
25 - Auditing Complex
3 1 hr. Cash & Investments • Newsprint/ Handouts/
Investment Types
Exercise
26 - Auditing Accounts
3 1 hr. A/R & Revenue • Markers
Receivable
• Tape
27 - Auditing Revenue
3 1 hr. A/R & Revenue
Recognition
Introductions: Briefly
summarize the yesterday's
30
Day 4 Recall/ Wrap Up of 3rd Day's Activity activities, training objectives  
MINS.
for training session, and
training agenda.
4 1 hr. Estimates 28 - Auditing Estimates
Materials
29 - Auditing PP&E, Including
4 1 hr. PP&E and Other Long-Lived Assets • Newsprint/ Handouts
Leases
• Markers
30 - Auditing Impairment of • Tape
4 1 hr. PP&E and Other Long-Lived Assets
Long-Lived Assets
  1 hour Lunch Break
31 – Auditing Basic Inventory –
4 1 hr. Inventory, Including Observations
Performing Observations Materials
Liabilities, Contingencies, and Going 32 - Auditing A/P, Accrued • Newsprint/ Handouts/
4 1 hr.
Concern Expenses, and Debt Exercise
Liabilities, Contingencies, and Going 33 - Auditing Contingencies and • Markers
4 1 hr. • Tape
Concern Going Concern
4 1 hr. Analytical Procedures 34 - Analytical Procedure
DAY TIME CONTENT OUTLINE PRESENTATION METHODS HANDOUTS/MATERIALS
Fundamentals
35 - Substantive Analytic
4 Analytical Procedures
Procedures
1 hr.
36 - Maximizing Analytic
4 Analytical Procedures  
Procedure Audit Evidence
Introductions: Briefly
summarize the yesterday's
30
Day 5 Recall/ Wrap Up of 4th Day's Activity activities, training objectives  
MINS.
for training session, and
training agenda.
5 1 hr. Sampling 37 - Sampling Fundamentals
Materials
38 - Modified Audit Reports &
5 1 hr. F/S Reporting & Audit Opinions • Newsprint/ Handouts
Other Special Considerations
• Markers
39 - Financial Statement • Tape
5 1 hr. F/S Reporting & Audit Opinions
Fundamentals
  1 hour Lunch Break
40 - Financial Reporting
5 1 hr. F/S Reporting & Audit Opinions
Complex Issues
41 - Client and Engagement
5 1 hr. Client & Engagement Management
Management
42 - Coaching Staff to Stay on • Newsprint/ Handouts/
5 Client & Engagement Management Exercise
the Right Track
43 - Adapting to Different • Markers
5 1 hr. Client & Engagement Management • Tape
Personality Styles
44 - The Art of Discipline and
5 Client & Engagement Management
Getting Things Done
Introductions: Briefly
summarize the yesterday's
30
Day 6 Recall/ Wrap Up of 5th Day's Activity activities, training objectives  
MINS.
for training session, and
training agenda.
DAY TIME CONTENT OUTLINE PRESENTATION METHODS HANDOUTS/MATERIALS
45 - Making Rain - Client
6 1 hr. Business Development
Service and Selling to Prospects
• Newsprint/ Handouts
46 – Critical Performance • Markers
6 1 hr. Performance Measurement
Measures • Tape
47 – The Balanced Leader-
6 1 hr. Firm Leadership
Manager
  1 hour Lunch Break
48 - Accounting & Auditing
6 1 hr. Accounting & Auditing Update Exercises
Update
Review the purpose and content
of the training. Ask participants
what they learned as a result of
the training and how they will be
6 1 hr. Closing Summary  
able to use what they learned.
Determine if there are still areas
of misunderstanding and clarify
where necessary.

Assessment: Each participant will be given a

6 1 hr. written assessment and will be expected to   Learning Assessment
achieve 80% to receive training certificate

Have participants complete the

6 1 hr. Evaluation Participant Evaluation Form. Participant Evaluation Form
Collect

V. AUDIT TRAINING SKILLS PROGRAM DETAILS (Narrative)

Module 1: Transitioning to the Professional World (Course Code: A1M1) • What it Means to be a Professional • Courteous,
Conscientious and Businesslike Behavior • Case Study - Responding to Professional Challenges • Character, Integrity and Serving the
Public Interest • Maintaining Independence and Objectivity • Case Study - Integrity, Confidentiality and Other • Optional Homework:
Understanding the Code of Professional Conduct

Module 2: Independence - Nonattest and Attest Services (Course Code: A3M1) • PEEC Independence Conceptual Framework • Self-
Review and Other Threats • ET 1.295 Performing Both Attest and Nonattest • Case Study - Mitigating Nonattest Service Threats •
Example Appropriate Safeguards • Optional Homework: Evaluating Whether Independence Impairment Exists

Module 3: Special Audit Engagements Involving Compliance and Regulatory Reporting (Course Code: A5M7) • Highlights of
Sarbanes-Oxley Engagements • Highlights of Yellow Book & Single Audits • Reporting on Compliance • Letters to Underwriters •
SAS Requirements for Filings with SEC • Example Compliance Reports • Optional Homework: Additional Auditor Requirements in
Special Audit Engagements

Module 4: Desired Traits of Entry-Level Auditors (Course Code: A1M2) • Characteristics of Star Performers • Being Proactive and
Leveraging Unassigned Time • Embracing Constructive Feedback • Setting Goals for Professional Improvement • Case Study -
Difficult Scenarios Typically Encountered & Other Lessons Learned • Time and Task Management • Optional Homework:
Professional Goal Setting

Module 5: Desired Traits of In-Charges, Seniors and Supervisors (Course Code: A5M1) • Focus on Effective and Efficient
Engagements • Change Management • Creative Problem Solving • Retaining Clients Through Exceptional Client Service •
Counseling, Mentoring and Delegating to Others • Case Study - Setting Expectations for Effective and Efficient Audits • Case Study -
Assessing Client Satisfaction • Optional Homework: Assessing Your Coaching Style and Applying Creative Thinking

Module 6: Performing Research - FASB Codification (Course Code: A4M7) • Formation and Access to the Codification • Structure of
the Codification • Features of the Codification • Basic vs. Professional View • Case Studies - Using the Codification to Research •
Optional Homework: Researching Issues

Module 7: Professional Skepticism (Course Code: A1M3) • The Importance of Professional Skepticism to Attest Services • Fraud,
Error and Illegal Acts • Example Fraud Risk Indicators • Case Study - Applying Professional Skepticism • Case Study - Levels of
Persuasiveness of Evidence • Optional Homework: Auditor’s Fraud Responsibilities

Module 8: Assessing Fraud Risk in a Financial Statement Audit (Course Code: A3M2) • Expectation Gap Between Auditors and F/S
Users • Identifying Fraud Risk • Engagement Team Discussion Points • Testing for Management Override • Case Study - Performing
Journal Entry Testing • Case Study - Responding to Identified Fraud Risk • Fraud Communications • Optional Homework: Identifying
and Responding to Fraud Risk in a Nonprofit Environment

Module 9: Fraud in Smaller and Mid-Size Environments (Course Code A4M1) • Fraud Trends - ACFE Annual Fraud Report Results •
Cyber-security Fraud Risks • Case Study - Small Entity and Nonprofit Examples • Communications to Governance and Others • Fraud
vs. Abuse • Case Study - Impact of Fraud on Auditor's Report • Optional Homework: Identifying and Responding to Potential Fraud

Module 10: The Nature of Compilations, Reviews and Audits (Course Code: A1M4) • Basis and Requirements of a Preparation of
F/S Compared to a Compilation Engagement • Special Purpose Framework and Other Special Issues • Basis and Requirements of a
Review • Exercise - Designing Inquiries and Analytics • Basis and Requirements of an Audit • Exercise - Differences in Attest
Responsibilities • Optional Homework: Evaluating Analytic Results in a Review

Module 11: Performing Effective and Efficient Compilations and Reviews (Course Code: A2M1) • Exercise – Avoiding Litigation in
Nonattest Services • Minimum Documentation Requirements • Exercise - Compilation Procedures • Illustrative Special Reporting
Issues • Modifying Scope of Services and Other Matters • Avoiding Common Peer Review Deficiencies • Optional Homework:
Managing Risk in Accounting Services and Documenting Review Results

Module 12: Audit Documentation Basics (Course Code: A1M5) • Minimum Requirements of the SASs • Audit Programs as
Documentation • Format of Work Papers and Efficiency Tips • Checklist for Self-Review • Example Work Papers • Case Study -
Identify the Work Paper Deficiencies • Clearing Review Notes • Optional Homework: Identifying Work Paper Deficiencies

Module 13: Responsibilities When Reviewing Work Papers (Course Code: A4M2) • Documentation as Means of Quality Audits •
Critical Responsibilities of First-Level Reviewer • Common Review Notes at Various Phases of the Audit • Streamlining the Work
Paper Review Process • Case Study - Improving Effectiveness and Efficiency of Audit Documentation • Case Study - Timing of
Review Notes • Optional Homework: Evaluating Sufficiency of Documentation and Sole Practitioner Tips

Module 14: Reviewing Work Papers - Avoiding Deficient Audits (Course Code: A6M1) • Common Peer Review Deficiencies •
Upper Level Reviewer Responsibilities • Exercise – Questions Partners Should Ask • Quality Control Standards – Overview • PCAOB
Inspections • Optional Homework: Avoiding Peer Review Deficiencies Through Work Paper Review

Module 15: The Basic Audit Concept (Course Code: A1M6) • Overview of Professional Responsibilities • Important Audit Concepts,
Like Materiality • Phases of an Audit and Audit Report Elements • Exercise - Which Entity Has Higher Audit High? • Overview of the
Audit Risk Formula • Exercise - Identifying Audit Risk • Case Study: Documenting Identified Risks • Optional Homework:
Identifying Higher Audit Risk and Completing the Audit Risk Formula

Module 16 : Identifying and Evaluating Audit Risk (Course Code: A3M3) • Importance of Risk Assessment to a Quality Audit • The
Audit Risk Formula - How Elements Relate • The Importance of Properly Assessing Control Risk • Steps of an Effective Risk
Assessment Process • Exercise - Designing an Audit Plan Based on Risk • Case Study - Risk Assessment Documentation • Optional
Homework: Identifying Risk for Sample Entity

Module 17: Assessing Risk for a High Quality Audit (Course Code: A4M3) • Overview of the Audit Process, Emphasizing Risk
Assessment Procedures • Case Study - Linking Risk to the Detailed Audit Plan • Determining the Nature, Timing and Extent of
Procedures • Engagement Planning Meeting Best Practices • Case Study – Evaluating Evidence • Common Efficiency Considerations
By Audit Area • Optional Homework: Assessing Risk for an Entity

Module 18: Internal Control Fundamentals (Course Code: A1M7) • Understanding the Entity and Its Environment • Exercise -
Satisfying Control Objectives & EntityLevel Controls • The COSO Integrated Framework - Overview • Examples - Various Internal
Control Documentation • Key Points for Effective and Efficient Audit • Optional Homework: Designing Controls To Mitigate Risk

Module 19: Internal Control Testing for Operating Effectiveness (Course Code: A3M4) • COSO Integrated Framework -
Interrelationship of Core Components • Tests of Controls - SAS Requirements • Service Organization Control Reports • Case Study -
Identifying and Testing Key Controls • Linking Control Reliance to Detailed Audit Plan • Case Study - Evaluating Results of Control
Testing • General Computer Controls • Optional Homework: Evaluating Design and Operating Effectiveness of Payroll Controls

Module 20: Internal Control Advanced Concepts (Course Code: A4M4) • Evolution of Internal Control Through the Decades • 2013
Revamped COSO Framework – Highlights Case Study - Designing System for Smaller Entities • Differentiating Sarbanes-Oxley
Requirements • Differentiating Yellow Book and Single Audit • Optional Homework: Demonstrating COSO’s 17 Principles

Module 21: Communicating Internal Control Deficiencies (Course Code: A5M2) • Identifying Internal Control Deficiencies • What
and How to Communicate • Who to Communicate With and When • Illustrative Internal Control Communications • Better Writing
Tips • Case Study - Evaluating Severity of Deficiencies • Case Study - Drafting a Deficiency Comment • Optional Homework:
Rewriting Comments
Module 22: Value-Added Internal Control Communications (Course Code: A6M2) • The Importance of Being a Valued Business
Advisor • Case Study - Identifying Business Advisory Matters • Developing Trust with the Client • Exercise - Making Business
Advise a Priority • Focusing on Enterprise-Wide Risk • Communicating Financial Analysis • Cross-Selling Opportunities • Optional
Homework: Brainstorming Business Advisory Comments for Management Letter

Module 23: Auditing Cash and Cash Equivalents (Course Code: A1M8) • Typical Audit Risks and Special Considerations • Common
Detailed Audit Plan • Case Study - Performing Audit Procedures • Case Study - Interviewing Client to Obtain Evidence • Key
Controls over Cash Receipts and Cash Disbursements • Optional Homework: Auditing Cash for an Entity

Module 24: Auditing Common Investments (Course Code: A3M5) • Typical Audit Risks and Special Considerations • Investments in
Other Entities • Understanding and Auditing Common Derivatives • Case Study - Fair Value Determination • Case Study - "Plain
Vanilla" Derivative Accounting • Fair Value Presentation and Disclosure • Case Study - Applying the Fair Value Hierarchy for Proper
Disclosure • Optional Homework: Calculating Gains and Losses and Determining Fair Value Hierarchy

Module 25: Auditing Complex Investment Types (Course Code: A5M3) • Types of Non-readily Marketable Securities • Fair Value
Modeling Techniques for Level 3 Investments • Using the Work of a Specialist • Using Service Organization Control Reports •
Evaluating the Fair Value Hierarchy • Case Study - Put Option Accounting • Case Study - Embedded Derivatives in a Bond • Optional
Homework: Foreign Currency Put Option Accounting

Module 26: Auditing Accounts Receivable (Course Code: A2M2) • Typical Audit Risks and Special Considerations • Case Study -
Tailoring Detailed Audit Plan to Risk • Converting Receivables to Cash • Case Study - Evaluating Confirmation Responses •
Evaluating Valuation of Accounts Receivable • Case Study - Auditing Allowance for Uncollectible • Optional Homework: Designing
Internal Controls

Module 27: Auditing Revenue Recognition (Course Code: A3M6) • Typical Audit Risks and Special Considerations • Case Study -
Fraud Schemes and Audit Responses • Case Study - Installment Sales Example • Case Study - Analyze Scenarios for Proper
Treatment • Higher Risk Audit Responses • Revised GAAP - New Revenue Recognition Model • Optional Homework: Identifying
Differences in the New Revenue Recognition Model

Module 28: Auditing Estimates (Course Code: A4M5) • Overview of Estimation of Uncertainty • Typical Areas of Estimation and
Related Risks • Linking Risk to Detailed Audit Plan • Auditing Point Estimates and Ranges • Case Study - Challenging Management's
Assumptions • Case Study - Evaluating Evidence and Results For Common Areas of Estimation • Evaluating the Results of
Management's Estimates • Optional Homework: Preventing Fraud in Estimates

Module 29: Auditing PP&E, Including Leases (Course Code: A2M3) • Typical Audit Risks and Special Considerations • Costing and
Capitalization • Key Controls & Other Issues • Lease Accounting Requirements • Case Study - Capital Lease Accounting • Revised
GAAP - New Lease Accounting • Optional Homework: Journal Entries to Record Leases

Module 30: Auditing Impairment of Long-Lived Assets (Course Code: A5M4) • Typical Assets Subject to Impairment • Indicators of
Impairment and Recoverability Testing • Case Study - Calculating Impairment of Tangible Assets • Goodwill Accounting and Audit
Risks • Case Study - Calculating Goodwill Impairment • Optional Homework: Intangible Impairment, Allocating Impairment Loss,
and Estimating Future Cash Flows Module

Module 31: Auditing Basic Inventory - Performing Observations (Course Code: A2M4) • Typical Risks and Special Considerations •
Typical Inventory Observation Audit Procedures • Case Study - Evaluating Scenarios from a Physical Inventory Observation •
Valuation and Pricing Methods • Key Controls Related to Inventory • Optional Homework: Perpetual vs. Periodic Inventory Systems,
Lower Cost or Market, and Passage of Title

Module 32: Auditing A/P, Accrued Expenses and Debt (Course Code: A2M5) • Typical Risks and Special Considerations • Tailoring
Audit Plan to Assessed Risk • Case Study - Search for Unrecorded Liabilities • Exercise - Evaluating Accrued Estimates • Special
Debt Audit Considerations • Case Study - Debt Covenant Compliance • Optional Homework: Debt Covenant Compliance and
Evaluating Sufficiency of Waiver

Module 33: Auditing Contingencies and Going Concern (Course Code: A5M5) • Commitments and Contingencies • Litigation,
Claims and Assessments • Case Study - Evaluating Attorney's Responses • Auditor's Responsibility for Going Concern • Case Study -
Evaluating Management's Assumptions • Optional Homework: Determining Proper Accounting Treatment for Contingencies

Module 34: Analytical Procedure Fundamentals (Course Code: A2M6) • Preliminary Analytic Review SAS Requirements • Exercise
- Identifying Risk Through Analytics • Final Analytic Review SAS Requirements • Process for Substantive Analytic Procedures •
Exercise - Factors to Consider in Developing Expectations & Evaluating Results • Exercise - Common Pitfalls • Optional Homework:
Identifying Risks Through Analytic Procedures
Module 35: Substantive Analytic Procedures (Course Code: A3M7) • How Analytic Procedures Enhance a Quality Audit • Elements
of Strong Substantive Analytics • Case Study - Selecting the Proper Analytic • Case Study - Developing Expectations • Case Study -
Disaggregating Data and Altering Strength of Analytics • Case Study – Corroborating Explanations • Optional Homework: Evaluating
Reasonableness of Results of Substantive Analytics

Module 36: Maximizing Analytic Procedure Audit Evidence (Course Code: A4M6) • Performing Financial Statement Analysis •
Common Analytical Procedure Deficiencies • Case Study - Improving Audit Quality and Developing Expectations • Case Study -
Identifying Potential Risk • Case Study - Detecting Earnings Management • Case Study - Analyzing Results for Business Advice •
Optional Homework: Establishing Expectations for an Entity

Module 37: Sampling Fundamentals (Course Code: A2M7) • Types of Sampling & Sampling Risk • Attribute Sampling For Tests of
Controls • Exercise - Determining Sample Sizes in Statistical and Non-statistical Sampling • Variable Sampling for Substantive
Assurance • Single Audit Attribute Testing • Optional Homework: Documenting Sample Size Determination and Results of Procedure

Module 38: Modified Audit Reports and Other Special Considerations (Course Code: A5M6) • Modified Audit Opinions •
Predecessor Auditor Considerations • Initial Audit Considerations • Case Study - Example Modified Audit Reports • Using the Work
of Specialists and Others • Group Audit Considerations • Optional Homework: Determining Type of Report to Issue Under Various
Scenarios

Module 39: Financial Statement Fundamentals (Course Code: A2M8) • Inter-relationship of Financial Statements • Footnotes Basics •
Drafting and Issuance Process • Case Study - Performing the Final Quality Check • Special Purpose Framework Financial Statements
• Exercise - GAAP vs. Special Purpose Framework? • Elements of an Auditor's Report • Optional Homework: Performing Quality
Control Check in Footnotes

Module 40: Financial Reporting Complex Issues (Course Code: A3M8) • Statement of Cash Flows Fundamentals • Examples -
Complex Cash Flow Issues • General Audit Procedures to Identify Disclosures • Case Study - Drafting Footnotes for Specific
Scenarios • Emphasis-of-Matter and Other-Matter Paragraphs • Exercise - Improving the Footnote Drafting Process • Optional
Homework: Determining Amounts in a Statement of Cash Flows

Module 41: Client and Engagement Management (Course Code: A4M8) • Guidelines for Better Budgeting • Case Study - Preparing a
Budget • Guidelines for Better Scheduling • Guidelines for Improving Client Assistance • Case Study - Ensuring Client Ready for
Audit • Critical Supervision and Delegation Techniques • Optional Homework: Assessing Ability to Delegate and Planning a
Delegation Scenario

Module 42: Coaching Staff To Stay on the Right Track (Course Code: A5M8) • Motivating Teams for Engagement Success • Case
Study - Identifying Different Ways to Motivate • Appropriate Use of Different Coaching Styles • Process for Engaging in Difficult
Conversations • Case Study - Reframing the Issue for Resolution • Process for Giving Constructive Feedback • Case Study - Handling
Negative Reactions • Case Study - Writing a Constructive Feedback Plan • Optional Homework: Planning a Feedback Scenario and
Suggesting Action for Improvement

Module 43: Adapting to Different Personality Styles (Course Code: A6M3) • Defining Primary Personality Style Characteristics •
Exercise - Common Performance Feedback for Different Personality Styles • Impact on Leadership Style • Exercise - Coaching
Tendencies • Exercise - Impact on Time Management • Exercise - Connecting With Others • Optional Homework: Completing a
Personality Style Assessment

Module 44: The Art of Discipline and Getting Things Done (Course Code: A7M1) • Creating a Culture of Discipline • Creating a
Robust & Open Dialogue • Project and Time Management Best Practices • Case Study - Avoiding Common Time Wasters • Tips for
Getting - and Staying - Organized • Managing Stress and Energy • Managing Effective Meetings • Exercise - Managing People in
Meetings • Optional Homework: Analyzing Your Day, Better Project Management and Managing Stress

Module 45: Making Rain - Client Service and Selling to Prospects (Course Code: A7M2) • Marketing to Existing Clients • Case
Study - How to Connect Better With Others • Case Study - What Motivates Clients to Engage Us • Building Value Perceptions With
Existing Clients • Generating New Business • Differentiating Your Firm From the Competition • Handling Objections and Closing the
Sale • Getting Started With Making Rain • Optional Homework: What Differentiates Your Firm and Crafting Questions for Prospects

Module 46: Critical Performance Measures (Course Code: A7M3) • Defining Various Types of Measures • Case Study - Financial
Performance vs. Internal Process vs. Continuous Improvement vs. Customer Satisfaction Measures • Creating a Dashboard of
Performance Metrics • Tips for Sustainable Performance Measurement • Optional Homework: Brainstorm Measures for Various
Industries

Module 47: The Balanced Leader-Manager (Course Code: A7M4) • Differentiating Managing and Leading • Case Study - Manager
vs. Leader Assessment • Exercise - Working With Other Personality Styles • Adapting Management and Leadership Styles •
Strengthening Competencies • Successfully Engaging in Difficult Conversations • Minimizing Performance Issues and Conflict •
Optional Homework: Manager vs. Leader Assessment

Module 48: Accounting and Auditing Update (Course Code: A6M4) • Private Company Council Impact on U.S. GAAP • Recent
FASB Accounting Standards Updates • FASB On the Horizon • Recently Clarified Auditing Standards • Recent SSARS Changes •
Optional Homework: Summarize Important Recent Developments and Changes.
VI. TRAINING EVALUATION FORM
12. What did you like most about this training?

13. What aspects of the training could be improved?

14. How do you hope to change your practice as a result of this training?

15. What additional adult ESL trainings would you like to have in the future?

16. Please share other comments or expand on previous responses here:

Thank you for your feedback!