This course is intended to give auditors a good initial understanding of the Probe MMX methodology as well as the International Standards on Auditing. In particular it will cover:
• All the requirements contained in the International Standards on Auditing
• The Probe MMX audit methodology
The main focus of this course is the planning and finalisation of the audit, ensuring that delegates understand all the considerations affecting the audit plan and that they get the opportunity to plan an audit thoroughly through a practical case study.
The course also covers other important aspects such as sampling, materiality, risk assessments, the proper utilisation of audit programmes and finalising the audit.
Understanding where the ISA's are applied in Probe MMX is an important part of everyday practice, which is dually noted throughout this course
Day 1
• Introduction to the fundamental principles contained in the auditing standards
• Firm settings
• Engagement evaluation
• Engagement letter
• Discussion with those charged with governance
• Discussions with management
• Gathering information
• Types and volumes of transactions
• Preliminary analytical review
• Overall materiality and performance materiality
• Risk analysis summary
• Inherent risk assessments
• Laws and regulation checklist
Day 2
• Control risk assessments
• Fraud risk assessments
• Control activities design and implementation
• Risk assessment at assertion level
• Controls over significant risks
• Substantive sampling
• Attribute sampling
• Audit program design
• Subsequent events
• Going concern
• Evaluation of misstatements
• Reporting deficiencies and significant deficiencies to management
• Management representations
• Consideration of audit report
• Discussions with client
All users of the Caseware audit methodology
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.
