Available Course

Auditing Standards 7: Finalisation – Communication and Misstatements

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Duration: 3.00
CPD Hours: Attendance at this seminar will secure 3 hour/s verifiable CPD points including other professional bodies (SAICA, SAIBA, ACCA, IACSA, IRBA & etc)
Course Facilitator: Tristan White
T:  0118861395
E:  gillian@probetatraining.co.za

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 7 will focus on: o ISA 260: Communication with those charged with governance o ISA 265: Communicating deficiencies in internal control to those charged with governance o ISA 450: Evaluation of misstatements identified during the audit o ISA 560: Subsequent events o ISA 570: Going concern o ISA 580: Written representations

Fundamentally the session will focus on finalisation 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 finalisation are: • What, how and to whom information must be communicated • Identifying significant and important deficiencies • Communicating control deficiencies and going concern issues • Consideration of both identified and unidentified misstatements • The effect of misstatements on the audit plan • Individual and aggregate misstatement • Management representations about misstatements and subsequent events • Adjusting and non-adjusting events • Management’s assessment of going concern. • Responding to going concern events and conditions • The effect of going concern on the audit report • Written representation that must be obtained • Steps if management refuses to provide representations

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.