Auditing Standards 6: Execution – Service Org’s + Estimates + Fair Values + Related Parties
|CPD Hours:||Attendance at this seminar will secure 3 hour/s verifiable CPD points including other professional bodies (SAICA, SAIBA, ACCA, IACSA, IRBA & etc)|
ProBeta Training presents a refresher webinar-series on the International Standard on Auditing or ISA to familiarise you with all pertinent elements directly from the standard. The approach to the webinar-series is to split the standards into the relevant phase of the audit, spending several weeks on each phase i.e. • Pre-engagement planning • Execution; and • Finalisation The series will run over 8 weeks, and each weekly-webinar will attempt to: • simplify the relevant standards, • highlight key elements and • provide action points from each standard to ensure that you conduct each audit in accordance with the International Standard on Auditing (ISA). Session 6 will focus on: o ISA 402: Audit considerations relating to an entity using a service organisation o ISA 540: Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures o ISA 550: Related parties
Fundamentally the session will focus on execution and the considerations thereto, with the view to: • Simplifying the relevant standards, • Highlighting key elements and • Providing action points
Concepts that will form part of the session, which form the foundation of execution are: • Understanding service organisations • Assessing risk relating to service organisations and responding to those risks • Methods, controls and assumptions in creating accounting estimates • Compulsory tests for significant estimates • Management bias • Written representations relating to estimates and related parties • Team discussions regarding related parties • Transactions outside the course of business
The following individuals will benefit from attending this course: • Audit trainees • Audit firm owners
Delegates must have their own computers with strong internet connections. All other material and stationery will be provided.