Virtual Training Course

Planning the audit engagement based on Caseware

>> Click here to book this training as an In-House course <<

This Course is not part of the MUS Subscriber discount structure.

Price: R2806.00 (VAT Incl.) Per Person
Presenter: Ms Yvonne Rossouw
Date: 30 Jan '19 to 31 Jan '19
Times: Registration:08H00 Start:08H30 End:16H00
Duration: 2 Days
CPD Hours: Attendance at this seminar will secure 13 hour/s verifiable CPD points including other professional bodies (SAICA, SAIBA, ACCA, IACSA, IRBA & etc)
Platform: Web Based (Online)
Course Facilitator: Nerissa Singh
T:  011-886-1395
E:  nerissa@probetatraining.co.za
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As trainees progress through their articles, so do their responsibilities. Unfortunately they need direction every time they take up a new mantle, and as we know how difficult it is to find time to provide the necessary guidance in the busy audit environment, we have created specific training sessions with this in mind. This course explains how audits should be planned to be performed effectively in terms of the ISAs. This course focuses on how to plan an audit, including assessing risk and how to obtain and document your understanding of the clients business and controls. Delegates will be faced with a practical case study and will have to perform the planning for the audit engagement in compliance with the standards. This course explains how audits can be planned and performed effectively on Caseware audit methodology , using the software to improve audit efficiency while maintaining audit quality.

After attending this course delegates will have a thorough understanding of the following: o Identifying the overall risk in accepting the engagement o Drafting an appropriate engagement letter for a new engagement o Obtaining an understanding of the entity and its environment and documenting this information in the appropriate format o Obtaining an understanding of the ISAs information system and control activities o Evaluating and documenting the risk of material misstatement at an overall financial statement level o Understanding the concept of desired audit risk o Evaluating and documenting the risk of material misstatement at the account balance level by assertion o Evaluating and documenting the risk of fraud o Identifying and documenting the significant risks that could result in material misstatement o Identifying and documenting the factors that affect planning materiality and performance materiality o Calculating and documenting a justifiable level of planning and performance materiality o Identifying and documenting appropriate tests of internal controls, significant risk responses, required procedures, extended analytical procedures, extended tests of detail and sampling. Please note: This course is based on a practical case study

The delegates will be provided with a case study including all the information necessary regarding the client to perform the planning section. They will then need to perform the following planning sections: o Engagement continuance procedures o Identifying the risk of the engagement o Identifying ethical dilemmas o Whether pre-conditions are met o Should the engagement be accepted o Assessing the engagement letter o Obtaining an understanding of the entity through discussions with those charged with governance, including fraud questionnaires Identifying the Financial Statement Areas to be audited and the relevant information regarding these engagement Performing risk assessment o At Financial statements level o At Assertion level for every FSA Documenting system descriptions and performing walkthroughs Documenting the audit plan Documenting all of the above in the Caseware audit methodology software

This training will be presented on an intermediate level. Trainees with a degree, who will be involved in the planning of the audit and who needs an in-depth knowledge of the planning process using Caseware audit methodology should attend.

Delegates must have the following available on the course day: a) Delegates must have their own computers with the latest version of CaseWare and CaseWare Working Papers already loaded b) Stable internet Connection (Wi-Fi or 3G) with sufficient data for the two days c) Headset (microphone, speakers) for each delegate All software must be fully licensed. All other material and stationery will be provided. Please note: If earlier versions are loaded then some of the functions in might not work.