Finalising an audit is more than just signing off—it requires thorough review of the audit evidence and ensuring that the correct opinion is being expressed. Additionally, the auditor must consider other reporting obligations that may arise during the process.
This course provides a comprehensive guide to finalising audit files in CaseWare Audit International, focusing on compliance with standards and ensuring audit quality. Participants will work through a case study, using real-world data to complete the finalisation phase and gain practical insights into the tools and templates in CaseWare.
This course ensures that participants develop the practical skills needed to finalise audits effectively using CaseWare International, align with the latest auditing standards, and meet reporting obligations.
• Sampling Procedures
• Related Parties
o Identifying related parties
o Testing related party transactions and balances
o Testing disclosures for completeness and accuracy
• Litigation and Claims
o Identifying contingent liabilities and commitments
• Going Concern Assessment
o Evaluating the client’s plan
o Auditing the cash flow forecast
• Subordination Agreements and Insolvencies
• Subsequent Events
o Identifying subsequent events
o Documenting the treatment of subsequent events
o Assessing the impact on the financial statements
• Final/Overall Analytical Review
• External Confirmations
• Evaluation of Misstatements
o Calculating final materiality
o Evaluating individual and qualitative misstatements
o Assessing the effect of uncorrected misstatements
• Reporting to Management on Deficiencies in Internal Controls
o Understanding the difference between deficiencies and significant deficiencies
• Obtaining Written Representations
• Preparing the Audit Report
o Deciding on the type of opinion in line with the revised ISA 700
o Including Key Audit Matters (KAMs) in the report as per the revised ISA 701
• Reporting to IRBA on Reportable Irregularities
o Understanding what constitutes a reportable irregularity
o Practical exercise on identifying reportable irregularities
o How to report to IRBA
• Reporting Non-Compliance with Laws and Regulations (NOCLAR)
o Auditor responsibilities in identifying and reporting non-compliance
o Determining if non-compliance should be reported, even if it is not a reportable irregularity
• Auditors
• Third-year SAICA trainees
• Fourth-year SAICA trainees
• Fifth-year SAICA trainees
• Audit Managers
• Audit Partners
The latest Version of CaseWare must be installed.
