The delegates will be provided with a case study including all the information necessary regarding the client to perform the finalization section. They will then need to complete the audit using CaseWare. The following sections will be done: • Sampling • Related parties o Identifying the related parties o Testing the transactions and balances o Testing the disclosure • Litigation and claims o Identifying a possible contingent liability and commitments • Going concern o Evaluate the client's plan o Audit the cash flow forecast • Subordination agreements and insolvencies • Subsequent events o Identifying the subsequent events o Documenting the treatment o Assessing the impact on the financial statements • Final/Overall analytical review • External confirmations • Evaluations of misstatements o Calculating Final Materiality o Evaluating individual material misstatements o Evaluating qualitative material misstatements o Assessing the effect of uncorrected misstatements • Reporting to management on deficiencies in internal controls o Difference between deficiencies and significant deficiencies • Obtaining written representations • Deciding on the type of opinion and setting up the audit report i.r.o. the new revised ISA 700 • Including KAM’s into the report i.r.o. the new revised ISA 701 • Reporting to IRBA i.r.o. Reportable irregularities. o What is a reportable irregularity o Practical exercise on identifying a reportable irregularity o How to report to IRBA • Reporting non-compliance with laws and regulations in terms of the code of conduct o What are our responsibilities in an audit o If it is not an RI, should we still report it?

Auditors Third year SAICA trainees Fourth year SAICA trainees Fifth year SAICA trainees Audit mangers Audit partners

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