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.

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.

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

Prerequisites: Knowledge, Experience or Courses:
Participants should be familiar with the CPA Handbook – Assurance and have some experience with performing audits.

Applicable For:
The seminar targets practitioners and professional staff who seek a review of how to perform an audit efficiently and effectively using PEG.

What to Expect

• An email will be sent from CPA Manitoba to the participant within two business days of registration. The email will include information on how to access the course along with the necessary login credentials. 
• Once sent, the email will also be found in your Account Communication tab of the CPA Manitoba Member Portal.
• This course is designed for participants to view while following along with the course material provided. 
• This self-study course allows the user to save their progress and return to continue later.

Registration is for this course is open until March 31, 2024 and should be completed by August 31, 2024, after this time, access to the course will no longer be available.

To receive a certificate, participants must complete a quiz at the end of the course. Unlimited quiz attempts are available until the passing grade of 70% or better is achieved. After this you will no longer have access to the quiz.

CPA Manitoba PD Terms and Conditions