Finalisation Before the audit report can be signed, an audit file must be finalised and the evidence obtained reviewed to ensure the proper opinion is being expressed. The auditor may also have other reporting obligations that need to be considered. Ensure your team members know how to assess whether or not enough evidence was obtained to substantiate your opinion and avoid practical pitfalls and deficiencies. The following topics will be discussed in detail during the session: • Sampling • Related parties o Risk assessment o Identifying the related parties o Performing specific fraud tests on related party transactions o Testing the disclosure • Significant transactions outside the normal course of business with or without related parties • Litigation and claims • Identifying a possible contingent liability and commitments • Going concern o Evaluate the client's plan o Audit the cash flow forecast • Subordination agreements and insolvencies • Subsequent events o Identifying the subsequent events o Documenting the treatment o Assessing the impact on the financial statements • Final/Overall analytical review • Reporting significant deficiencies to management in writing • Evaluation of misstatements • Reporting a NOCLAR or Reportable irregularity identified during the audit The following CaseWare documents will be discussed. • 02.10 Subsequent events • 02.20 Going concern • 02.22 Subordination agreements • 02.30 Overall analytical review • 02.40 Evaluation of misstatements • 02.50 Consideration of the audit report • 02.55 key audit matters • 02.00 Partner sign off

Auditors Second-year SAICA trainees Third-year SAICA trainees Fourth-year SAICA trainees Fifth-year SAICA trainees Audit managers Audit partners Engagement Quality Control Reviewers

2022 Version of CaseWare must be installed.