Auditing and Assurance Training

Course Info

Length: 1 Week

Type: Online

Available Dates

Fees

  • Oct-10-2022

    1,375

  • Oct-31-2022

    1,375

  • Nov-14-2022

    1,375

  • Nov-28-2022

    1,375

  • Dec-05-2022

    1,375

  • Dec-19-2022

    1,375

Course Details

Course Outline

5 days course

 

The Auditing Profession

 

  • The concept of accountability
  • Economic demand for auditing
  • Auditing as a monitoring device
  • The historical development of auditing practices.
  • The demand for auditing and other assurance services
  • The CPA profession
  • Audit reports
  • Professional ethics
  • Legal liability

 

The Audit Process

 

  • Audit responsibilities and objectives
  • Audit evidence
  • Audit planning and materiality
  • Assessing the risk of material misstatement
  • Assessing and responding to fraud risks
  • Internal control and COSO framework
  • Assessing control risk and reporting on internal controls
  • Overall audit strategy and audit programme

 

Application of the Audit Process to the Sales and Collection Cycle

 

  • Tests of controls and substantive tests of transactions
  • Audit sampling for tests of controls and substantive tests of tests of transactions
  • Completing the tests in the sales and collection cycle: accounts receivable
  • Audit sampling for tests of details of balances

 

Application of the Audit Process to other Cycles

 

  • Audit of the acquisition and payment cycle: tests of controls, substantive tests of transactions, and accounts payable
  • Completing the tests in the acquisition and payment cycle: verification of selected accounts
  • Audit of the payroll and personnel cycle
  • Audit of the inventory and warehousing cycle
  • Audit of the capital acquisition and repayment cycle
  • Audit of cash and financial instruments

 

Completing the Audit

 

  • Perform additional tests for presentation and disclosure
  • Review for contingent liabilities and commitments
  • Review for subsequent events
  • Final evidence accumulation
  • Evaluate results
  • Issue the audit report
  • Communicate with the audit committee and management
  • Subsequent discovery of facts