Available Course

Advanced Auditing

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Duration: 1 Day
CPD Hours: Attendance at this seminar will secure 6.5 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
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Advanced Auditing

The following will be discussed during the session Professional Scepticism (new)  New guidance issued Audit consideration i.r.o going concern in the current economic environment (new guidance issued)  Including Trading Under Insolvent Circumstances Assertions  The 5 assertions for transactions  The 5 assertions for balance sheet items  The direction of testing for each assertion  Risk assessment at the assertion level  Example of audit procedures to perform for each assertion  Selection of sample sizes for each assertion  Finding issued by IRBA w.r.t assertions ISA 315 (New revised standard)  Discussion of new requirements Revenue testing  Completeness testing – Direction  Possible scope limitations when testing revenue  Effect of scope limitation on the audit report  Presumed fraud risk testing – Design of working paper to reflect fraud tests  Testing per revenue stream  Meaning of “rebuttable”  Possible review findings by IRBA Auditing Accounting Estimates (new)  Discussion of new ISA 540  Risk assessment per estimate  Different audit procedures to perform based on risk assessments  Design of new working paper to reflect work performed Audit consideration regarding significant, unusual or high complex transactions Journal testing  7 step-plan to test journal entries Testing of related parties and transactions outside the normal course of business  Risk assessments  Specific audit procedures to perform 10 Step audit-plan Practical exercise: Delegates will be provided with the opportunity to apply all the above principles to design their audit programs for specific line items

 Delegates must have their computers with the latest version of CaseWare and CaseWare Working Papers already loaded  Stable Internet Connection (Wi-Fi or 3G) with sufficient data for the two days  Headset (microphone, speakers) for each delegate All software must be fully licensed. All other materials and stationery will be provided. Please note: If earlier versions are loaded then some of the functions might not work.