Webinar Training Course

Auditing the VAT balance

Price: Firm/Group/Company - R1207.50 (VAT Incl.)
Individuals - R402.50 (VAT Incl.)
Price (MLU Subscriber): Firm/Group/Company - R905.63 (VAT Incl.)
Individuals - R301.88 (VAT Incl.)
SAIT Members: Access your member discount with us by consulting the member instructions here BEFORE making a booking Here. Should you be unsure as to whether you have updated your profile correctly, please contact us BEFORE making a booking. NO MANUAL DISCOUNTS OR CREDITS WILL BE ISSUED.
Presenter: Ms Yvonne Rossouw
Date: 18 Mar '22
Times: 09h00-10h30
Duration: 1.5
CPD Hours: Attending the course and successfully completing the post-assessment, will grant you 1.5 hour/s verifiable CPD, recognised by the various professional bodies (SAICA, SAIBA, ACCA, IACSA, IRBA & etc). Please note that the CPD certificate will only be issued once the post-assessment has been completed.
Platform: Web Based (Online)
Contact Person: Yvonne
T:  011 886 1395
E:  gillian@probetatraining.co.za
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VAT may be one of the easiest line items in financial statements to audit. It may also be one of the areas where many auditors do not recognise errors due to the simplicity thereof. In order to audit VAT, the auditor needs to understand the underlying principles thereof, as well as the impact of the client’s operations on their VAT. This course aims to assist auditors in successfully obtaining assurance over VAT line item. SAIT MEMBERS: Access your member discount with us by consulting the member instructions BEFORE making a booking at http://probetatraining.obsysfiles.co.za/PBT/onlinepages/SAIT2022.pdf Should you be unsure as to whether you have updated your profile correctly, please contact us BEFORE making a booking. NO MANUAL DISCOUNTS OR CREDITS WILL BE ISSUED.

This session will cover the following: • General approach in auditing the VAT line item, including the risks and audit procedures associated with it • General overview of VAT principles necessary to audit VAT (this session is not a VAT technical course, and will not cover all VAT principles in full detail) • Areas of significance when auditing VAT: o Compliance with SARS deadlines o Reconciling the VAT returns with the financial statements:  Client reconciliations and the audit working paper  Input and output tax reconciliations  The reasonability of reconciling items o Know your client: understanding the impact of your client’s operations and industry on the VAT treatment of their transactions o Specific transactions to look out for:  Fixed assets  Leases  Imports  Input tax denied  Supplementary income streams

All auditors and auditing trainees.