This course is intended to give auditors a good initial understanding of the Audit International 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 Audit international 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 Audit International is an important part of everyday practice, which is duly noted throughout this course
The course will include but is not limited to:
Introduction to the fundamental principles contained in the auditing standards
Engagement acceptance
Engagement letter
Obtaining an understanding through discussions
Identifying the material line items for testing
Preliminary analytical review
Overall materiality and performance materiality
Introduction to risk assessment
Inherent risk assessments
Control risk assessments
Fraud risk assessments
System descriptions and identification of controls
Risk assessment at assertion level
Substantive sampling
Attribute sampling
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 Audit International audit methodology
Delegates must bring their own computers with Audit International template already loaded. All software must be fully licensed. All other material and stationery will be provided.
