Level II prepares new staff for assuming a greater level of responsibility on engagements. Once staff have "gotten their feet wet" by participating on a few engagements, this course will help auditors thoughtfully reflect on their experiences, and how to take basic knowledge to the next level. This course will include many real-life case studies for common audit areas assigned to staff with less than 2 years of experience with minimal supervision.

• Assessing risk for a higher quality audit: Understanding the concept of a risk-based audit, including linking risk assessment to the nature, timing and extent of planned procedures specific to each engagement
• Common effectiveness and efficiency considerations: Discussing typical opportunities to improve the quality of documentation and procedures for typical financial statement areas
• Workpaper documentation and review: Efficient format and preparation techniques, and tips for better workpaper review
• Property, plant and equipment case study: Audit objectives, typical audit procedures, common presentation and disclosure issues, and determining capital vs. operating leases
• Accounts receivable case study: Audit objectives, typical audit procedures, evaluating confirmation evidence, and common presentation and disclosure issues
• Inventory basics case study: Audit objectives, typical audit procedures, inventory observation tips and techniques, basic inventory price testing, and common presentation and disclosure issues
• Accounts payable and accrued liability case study: Audit objectives, typical audit procedures, search for unrecorded liabilities, and common presentation and disclosure issues
• Income statement case study: Audit objectives, typical audit procedures, line item analytical review, and common presentation and disclosure issues
• Drafting financial statements: Basic financial statement components, financial reporting standards, efficiency considerations, and case study on identifying footnote errors

Field of study: Auditing