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. Using real world examples and exercises, this course will help participants to unlock the full potential of PEG and its practical aids to reduce engagement time and improve results.

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, considering 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 audit

Applicable for

Although this course will greatly benefit all professionals that routinely perform audit engagements, the seminar targets practitioners and professional staff who seek a review of how to perform an audit efficiently and effectively using PEG.

Learning Objectives

By the end of this course, participants should be able to:

· 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.

Seminar Leader: Kirsten Albo

What to Expect

· This is a Live Virtual Seminar where class size has been limited to allow for an interactive learning environment.

· This seminar will not be recorded.

· Course materials, links and credentials will be emailed to you two business days before the seminar. Once sent, the email will also be found in your Account Communication tab of the CPA Manitoba Member Portal.

· Live webinars have varying levels of expected interaction, and some may require webcam and microphone capabilities – if you have concerns about the interaction required for this course, please email [email protected]

CPA Manitoba PD Terms and Conditions