Audit Education – 5 Ways to Benefit

Successful accounting firms understand the value of continuing professional audit education, not only for training younger professionals but also for helping auditors at all levels advance their understanding.

Learn more about Wolters Kluwer’s School of Audit and its unique approach to audit education. To begin with, the School of Audit provides a proven curriculum to train auditing skills across the full range of auditor skill levels and different types of firms. Additionally, the courses are all role-based and can be delivered online or in-person onsite.

Now that audit standards and audit technology evolve more quickly, professionals need reliable education to keep them informed of best practices in areas such as risk assessment and audit quality. With this in mind, here are five ways firms will benefit from Wolters Kluwer’s approach to audit education:

1. Ensure a consistent, firm-wide audit process and approach

Having a consistent auditor training and development program can help your firm cement its approach for delivering quality audits. Of course, nothing takes the place of implementing a solid audit process using a standard audit methodology such as Wolters Kluwer’s award-winning Knowledge-Based Audit approach. However, it’s equally vital to ensure that all of your auditors share the same understanding of the engagement process, audit methodology, and risk assessment standards.

That’s why the School of Audit offers a specialty program titled “Knowledge Coach and the Knowledge-Based Audit.” This program dives into risk assessment standards and how your firm can utilize the Knowledge-Based Audit (KBA) approach to meet requirements. It will help ensure all of your staff members audit efficiently and effectively.

2. Enhance recruitment and retention

Younger professionals value firms that provide opportunities to level-up their skills through continual training and development. They also prefer firms utilizing advanced audit technology to automate routine tasks so staff can spend more time on investigative work and client interaction. Furthermore, being able to show recruiting prospects a series of role-based, professional courses demonstrates your firm’s commitment to helping them learn, grow, and advance. The School of Audit offers courses for:

  • New hire staff
  • Experienced staff
  • Senior staff
  • Experienced senior staff

3. Streamline new hire training

Designed for young professionals fresh out of college, the new hires course prepares auditors in areas common for first-year staff. In general, this course reveals audit basics and ensures everyone starts out on solid footing. To begin with, it covers professional expectations and provides an understanding of the engagement process. Then it goes on to cover field work best practices, industry terminology, and documentation and software skills. Case studies revolve around low-risk audit areas, such as cash, fixed assets, accounts payables and inventory observation.

4. Maximize the ROI on audit technology

All role-based programs in the School of Audit include how-to knowledge about conducting audits using Wolters Kluwer audit solutions. Specifically, participants learn to use Wolters Kluwer software tools and functions that complement the skills acquired through the course content. So, depending on the participant’s role, instruction includes work using CCH® ProSystem fx® Engagement Training, CCH® ProSystem fx® Knowledge Coach, CCH® Accounting Research Manager® and TeamMate® Analytics. There’s no better way to invest in your team’s successful use of these solutions and ensure rapid ROI.

5. Develop staff for promotion to senior levels

Most firms acknowledge the need to train younger professionals about audit basics as well as firm policies and processes. But all things considered, a well-planned program for developing senior auditors might contribute even more to long-term firm success. Ensure senior staff have what they need to successfully fulfill their expanded roles within the most complex audit areas. The School of Audit offers audit education programs for experienced staff/new seniors, seniors with in-charge responsibilities, and highly experienced seniors.

Learn more about benefits your firm can expect from the School of Audit. Review descriptions for all six audit education courses that sharpen skills for every level of responsibility and experience.

AUTHOR

Brett Bell

Senior Accounting & Audit Consultant, CCH Learning & Development Academy School of Audit Lead

All stories by: Brett Bell