Audit Level 2

Audit Level 2 builds on foundational audit knowledge by helping participants deepen their understanding of risk assessment, professional skepticism, audit execution, and evidence evaluation. Participants work through the audit process in action, including understanding the entity, evaluating internal controls, performing inquiries, identifying risks, and designing appropriate audit responses. The course introduces more advanced staff-level considerations in fraud risk, group audits under SAS 149, data-driven auditing, substantive analytical procedures, and substantive sampling. Learners also apply technical concepts to key audit areas, including accounts receivable, inventory, cash, accounts payable, and fixed assets. Throughout the course, participants are encouraged to approach audit work with curiosity, skepticism, and sound professional judgment. This course helps auditors move beyond task completion toward a stronger understanding of why procedures are performed and how their work supports audit quality.

• Explain how understanding the entity, internal controls, inquiries, and risk assessment procedures contribute to an effective audit plan.
• Apply professional skepticism and critical thinking when evaluating audit evidence, fraud risks, client information, and data-driven audit procedures.
• Design and perform substantive procedures, including analytical procedures, sampling applications, and procedures for selected financial statement areas.
• Evaluate audit results, exceptions, and supporting evidence to determine appropriate next steps and documentation considerations.
• Describe key group audit considerations under SAS 149 and their impact on audit planning and execution.