Available Course

Internal controls and control environment

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Duration: 1/2 Day
CPD Hours: Attendance at this seminar will secure 4.5 hour/s verifiable CPD points including other professional bodies (SAICA, SAIBA, ACCA, IACSA, IRBA & etc)
Course Facilitator: Lynette Badenhorst
T:  011-886-1395
E:  nerissa@probetatraining.co.za

Internal controls are the only thing that can prevent errors or fraud in financial statements. Do we sufficiently address them during an audit? The purpose of this course is to take delegates through the audit process and to discuss in detail every requirement that is listed in the auditing standards that relates to internal controls. This session also focus on the documentation of internal controls in CaseWare. This course offers a comprehensive review of the auditor’s obligation toward internal controls, from the requirements listed in the international standards on auditing through to the real-world issues faced during external audits.

• What is controls and when will a control be relevant to the audit • ISA 315 – Identifying and assessing the risk of material misstatement through understanding the entity and its environment. • Documenting controls relevant to the audit and the responsibility for system descriptions • Evaluating the design and implementation of controls • Nature, timing and extent of test of controls relevant to the audit • Sampling on test of controls • The following documents in CaseWare: o 10.51 o 11.50 o 11.30 o 11.31 o 11.50