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External Audit

The following Neverest External Audit courses are offered in-house at your office or a designated off-site location at dates convenient for your team. Click below for course descriptions:

Assurance Re-Engineering Program (Staff to Partner)

4 DAYS – 28 PD HOURS

This program is designed for firm professionals at all levels (juniors to experienced managers and partners) who:

  • work together in an assurance practice, and
  • are interested in identifying practical techniques for planning, performing and wrapping up their engagements more effectively and efficiently.

The Neverest instructor works with a firm designated representative to learn about your practice, including reviewing excerpts of working papers from completed assurance engagements. The Neverest instructor will use this understanding of the firm’s approach to appropriately customize course delivery.

Participants will learn practical tools and techniques for “re-engineering” your approach to improve the effectiveness and efficiency of all future audit and review engagements.

Audit Engagements Workshop (Managing Effective & Efficient Risk Based Engagements)

1 DAY – 7 PD HOURS

This course revisits key assurance requirements as it relates to planning, performing and reporting on engagements. By providing Neverest with one or two completed engagement files to review in advance to identify potential training focus points, explore your firm’s typical engagement trouble spots and obtain tips for documenting work appropriately. Identify opportunities for maximizing the effectiveness and efficiency of your audit and review engagements.

Review Engagements Workshop

1 DAY – 7 PD HOURS

This course revisits the key concepts and requirements of the review engagement standard, CSRE 2400. This highly interactive workshop uses sample working papers to explore best practice approaches and areas for improvement. In the spirit of continuous improvement, participants will create a plan for improving review engagement files in the upcoming year, to ensure they are in full compliance with requirements.

Compilation Engagements Workshop (NEW Standard)

½ DAY – 3.5 PD HOURS

Ensure your team is up to date on the new standard on Compilation Engagements. This course highlights the changes to the standard and how to best communicate them to your practice. Obtain tips for implementing the standard effectively and efficiently for improved performance.

Assurance Update

½ DAY – 3.5 PD HOURS

This course will provide an update to key standards in the Canadian Auditing Standards (CASs) and other standards in the CPA – Canada Handbook – Assurance, including reporting standards and address other relevant assurance matters.

Monitoring Results (Customized, Based On YOUR Results)

½ DAY – 3.5 PD HOURS

This course communicates key monitoring inspection observations. Share tips for improving the effectiveness (and efficiency) of assurance engagements.

Auditor's Workshop for Small to Medium Sized Practices (How Can I Do Better?)

1 DAY – 7 PD HOURS

Are you an auditor who is looking for ways to improve the effectiveness and efficiency of your engagements? In this highly interactive workshop, revisit key audit requirements as they relate to common trouble spots in audit engagements, and learn practical approaches for avoiding or mitigating the impacts of each. Critique sample working papers to identify opportunities for improvement. Obtain and share practical tips with your peers for improved audit performance.

Participants are invited to bring sample/illustrative audit working papers or any complex or controversial audit issues for discussion and analysis in the course.

Managing Difficult Assurance Clients

1 DAY – 7 PD HOURS

Delivering high quality client service is paramount to a firm’s short-term and long-term success. However, interacting with clients to deliver that service is not always straight- forward or easy. An audit team’s ability to manage engagements effectively and efficiently hinges on a variety of factors…not least of which, is their ability to communicate and coordinate with clients effectively and efficiently.

This session identifies the qualities and characteristics of ‘ideal’ clients, to highlight the importance of training clients to develop into ‘ideal’ clients over time. Obtain and share tips for proactively managing clients and engagements for success.

This session further identifies difficult situations and conversations that assurance teams may experience. It provides a framework for the assurance team to plan for and manage these difficult conversations. In a safe learning environment, participants will practice reacting to given scenarios, and share tips for ‘thinking on their feet’.

Understanding Fraud Risks and the Auditor’s Responsibility

½ DAY – 3.5 PD HOURS

This course reviews the Canadian Auditing Standards (CAS) requirements as it applies to the auditor’s responsibility for understanding fraud risk factors. It will consider revenue recognition and management override of controls, in small business and NFPOs. The session will brainstorm on potential frauds by looking at recent frauds uncovered, technology, and current trends.

Understanding & Testing Controls, with an Emphasis on Technology

½ DAY – 3.5 PD HOURS

This course reviews the Canadian Auditing Standards (CAS) requirements as it applies to understanding a client’s system of internal control, with a focus on technology. The session will also highlight situations where the auditor must test controls because substantive procedures alone would not be sufficient. It shares how to design tests of controls, regardless of whether the auditor chooses, or must test the IT controls. Finally, this session will explore the impact on substantive audit procedures for IT dominant systems when internal controls are tested.

Sampling

½  DAY – 3.5 PD HOURS

Sampling is a technique used in most audit engagements. To apply it properly, it is imperative that auditors know the “why’s” and “how’s” of sampling. They must be able to apply appropriate sampling methods correctly in diverse situations. And they must be able to draw sound and defensible conclusions from the results of their sampling.

This course explains sampling’s place in auditing. It details the steps associated with planning, selecting and executing a sample. It explains how to evaluate and draw conclusions from sampling results. Using various case study scenarios to analyze and discuss, it also demonstrates approaches for documenting all steps in the sampling process.

Analytical Procedures

½  DAY – 3.5 PD HOURS

This course explores an area commonly cited by practice inspection as being deficient in audit and review engagement files: the use of analytical procedures. Review the standards as they relate to planning, performing and documenting analytical procedures.

Explore methods for setting expectations when designing predictive analytical procedures. Discuss techniques for strengthening analytics and dealing with variances. Learn how to effectively and efficiently document results. In addition, identify opportunities for using data analytics in your audit engagements.

Journal Entry Testing

½  DAY – 3.5 PD HOURS

When reviewing audit working paper files, practice inspectors and audit regulators are increasing their focus on the auditor’s approach and documentation of journal entry testing. Of specific concern is whether the auditor’s approach considered the completeness of journal entries being tested, and testing journal entries in areas that are more susceptible to fraud.

Designed specifically for small to mid-sized public accounting practices, this highly-interactive workshop explores approaches for selecting and testing journal entries, while keeping the completeness and fraud related concerns top of mind. It explores using software systems such as Microsoft Excel to analyze data, and shares tips for documenting results effectively and efficiently.

Assessing Quality of Evidence

½  DAY – 3.5 PD HOURS

Assessing the quality of evidence in an engagement requires professional judgment, professional skepticism and experience. The goal of the auditor is to design and perform audit procedures to obtain sufficient appropriate audit evidence to be able to draw conclusions. We often focus on the sufficiency (amount) but appropriateness (quality) is equally important. This session reviews and highlights professional requirements and will provide participants with an opportunity to review a variety of illustrative scenarios to identify and discuss the assessment of the quality of evidence obtained.

The discussion will look at assessing the quality of evidence in the following scenarios:

  • Audit of financial statements
  • Internal control testing
  • Other engagements

Technical Skills Program – Audit & Review Engagement Fundamentals (Staff)

3 DAYS – 21 PD HOURS – Minimum 0-1 busy seasons

This program is designed for firm professionals who have not yet participated in an audit or review engagement, have limited experience with the execution of audit or review engagements, or are interested in refreshing their knowledge of the fundamentals of performing audit and review engagements effectively and efficiently.

This program provides practical tools and techniques to make the audit and review process more effective and efficient. For audits, it explores the risk based approach. It enables participants to recognize common risks and objectives for each audit area and helps team members understand the link between planned audit procedures and the identified overall and financial statement assertion level risks. For reviews, it highlights key planning requirements. It enables participants to uncover areas where material misstatements are likely to arise and helps team members direct inquiries and analytics appropriately. The program provides tips for developing working paper documentation in an effective and efficient manner. Finally, it shares techniques for gathering relevant and reliable assurance evidence through client interviews.

Using a case study approach, participants work in small group ‘audit teams’ to plan, execute and report on an audit engagement. Teams learn to identify the risks and objectives of each audit area and work together to ensure planned audit procedures are appropriately targeted to risks. At the conclusion of each audit area, teams compare the approach and procedures used to those that would typically be used in review engagements.

Technical Skills Program – Assurance Engagement Supervision (Supervisors/Managers)

2 DAYS – 14 PD HOURS – Minimum required 1-3 busy seasons completed

This program is designed for professionals with a minimum of 1-3 busy seasons of experience in planning and/or performing assurance engagements, or individuals interested in refreshing their knowledge of planning risk based audit engagements and designing effective and efficient audit procedures by audit area. This program is also beneficial for individuals in a supervisory role interested in refreshing their knowledge of tools and techniques for supervising engagements and teams.

This program develops the technical and supervisory skills of individuals.  It provides an in-depth examination of how to perform a risk assessment. It explores gaining the appropriate depth of understanding of entity level and activity level risks and controls, including a sufficient understanding of information technology risks and controls. It provides technical guidance in areas that are common trouble spots: using sampling and analytical procedures effectively and auditing complex areas such as management estimates, inventory, payroll and revenues. Participants learn techniques for performing working paper file reviews effectively and efficiently. In addition, this program targets the development of some key soft skills when interacting with clients and colleagues. Participants will hone their ability to obtain relevant and reliable information from client interviews. In the spirit of continuous improvement, participants will also gain strategies for soliciting constructive and timely feedback from supervisors and partners and learn how to contribute to the firm by providing meaningful performance feedback to staff in a professional manner.

Technical Skills Program – Assurance Engagement Leadership (Managers/Partners)

1 DAY – 7 PD HOURS – Minimum 3-5 busy seasons completed

This program is designed for professionals with a minimum of 3-5 busy seasons of experience, including experience planning and performing assurance engagements, supervising staff and managing engagements. This program is beneficial for individuals in a management role interested in developing their abilities to improve the efficiency and effectiveness of engagements, their interactions with clients and team members, and their abilities to coach and lead teams for long-term benefits.

This program advances the skills of experienced professionals by improving their abilities to lead assurance engagements, manage engagement teams and interact with clients and other stakeholders. Using project management techniques, participants explore each phase of an assurance engagement to find opportunities to improve engagement effectiveness and efficiency. The benefits of coaching and mentoring staff are explored while introducing a framework that encourages flexibility for success in leading others.

Additional elective modules explore key areas that can help grow the practice, improve job effectiveness and elevate presence with partners, clients, boards of directors and other key stakeholders: new business development, critical thinking and creative problem solving, presentation, negotiation, and persuasive communication skills.

Professional Skills Program – Communication & Relationship Building Skills (Staff)

5 DAYS – 25-30 PD HOURS

This program is designed for firm professionals who are new to the profession, have limited experience, or are interested in refreshing their knowledge of the fundamentals of communication in a professional services environment.

Participants learn effective communication and relationship building skills that can be immediately applied to ‘real-life’ situations for improved daily performance.

Day 1Communication FundamentalsHalf Day
Day 1Understanding & Adapting Your Communication StyleHalf Day
Day 2Interviewing, Fraud & Professional SkepticismHalf Day
Day 2Managing Difficult ConversationsHalf Day
Day 3Power of PersuasionHalf Day
Day 3Collaborative Negotiation Half Day
Day 4Presenting With ImpactHalf Day
Day 4Presenting to Financial & Non-Financial AudiencesHalf Day
Day 5Time ManagementHalf Day
Day 5Professionalism, Social Media Etiquette & Relationship Management Half Day

Professional Skills Program – Communication & Relationship Building Skills (Supervisors/Managers)

5 DAYS – 25-30 PD HOURS

This program is designed for firm professionals who take the lead on managing engagements and supervising staff. This program is also beneficial to those who are new to supervising and/or managing others or who are interested in developing into that leadership role.

Participants learn effective communication and relationship building skills that can be immediately applied to ‘real-life’ situations for improved daily performance.

Day 1Communication FundamentalsHalf Day
Day 1Understanding & Adapting Your Communication StyleHalf Day
Day 2Interviewing, Fraud & Professional SkepticismHalf Day
Day 2Managing Difficult ConversationsHalf Day
Day 3Power of PersuasionHalf Day
Day 3Collaborative Negotiation Half Day
Day 4Presenting With ImpactHalf Day
Day 4Presenting to Financial & Non-Financial AudiencesHalf Day
Day 5Training & Facilitation Skills Half Day
Day 5Time ManagementHalf Day

Professional Skills Program – Leadership & Management Skills (Supervisors/Managers)

5 DAYS – 25-30 PD HOURS

This program is designed for firm professionals who take the lead on managing engagements and supervising staff. This program is also beneficial to those who are new to supervising and/or managing others or who are interested in developing into that leadership role.

Participants learn effective leadership and management skills that can be immediately applied in the workplace for improved individual and team performance.

Day 1Essential Professional SkillsHalf Day
Day 1Leading Productive MeetingsHalf Day
Day 2Developing High Performance TeamsHalf Day
Day 2Strategic LeadershipHalf Day
Day 3Supervision, Coaching & MentoringHalf Day
Day 3Giving & Receiving FeedbackHalf Day
Day 4Critical Thinking & Creative Problem SolvingHalf Day
Day 4Innovation & Engagement ManagementHalf Day
Day 5Firm Economics & ProfitabilityHalf Day
Day 5Business Development & Relationship ManagementHalf Day

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