First, introduce the title of the story as well as the author and illustrator.
Second, Look at some pictures in the story. Talk about the pictures. You may find it a great time to teach your child a new word. Maybe there is a new animal on the page or new action word.
Third, you might ask your child a question about what he or she thinks is going to happen in the story. Making a prediction helps your child to remember the events in the story, since they are listening to see if their prediction comes true.
Finally, check your child's prediction and talk about what happened in the story. This is not a drill, just a subtle conversation about the book, which over time will increase your child's ability to comprehend, or understand the story.
*You should continue to read to children even after they can read themselves.*
Why? Because when you read books that are higher than your child's reading level you are building their vocabulary and listening comprehension, which will help your child to build on their current reading skillls.