Virtual Training Course

Junior Audit Engagement Simulation based on CaseWare

>> Click here to book this training as an In-House course <<

This Course is not part of the MUS Subscriber discount structure.

Price: R6325.00 (VAT Incl.) Per Person
Presenter: Ms Yvonne Rossouw
Date: 6 Jun '22 to 10 Jun '22
Times: Registration:08H00 Start:08H30 End:16H00
Duration: 5 Days
CPD Hours: Attendance at this seminar will secure 32.5 hour/s verifiable CPD points including other professional bodies (SAICA, SAIBA, ACCA, IACSA, IRBA & etc)
Platform: Web Based (Online)
Course Facilitator: Nerissa Singh
T:  011-886-1395
Alternative Dates: 31 Jan '22
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Ensure your new auditing trainees know how to perform audit procedures and document their audit evidence. The aim of this auditing simulation is to prepare trainees for the real-world auditing environment. First year trainees without any practical experience find it hard to adjust, and as such time is needed from seniors to explain to them what is needed and what they should do. This might be the case every time they are faced with a new Financial statement area they need to audit. This training has been designed specifically to give first year trainees the edge they need to be able to stand on their own when faced with a new area to perform testing on. This training provides practical experience in terms of a case study on the general sections first years are faced with. This simulated audit workshop will teach trainees how to compile an electronic audit working paper file, using CaseWare, Word and Excel.

After completing the workshop delegates will be able to complete the audit procedures for smaller audit engagements on their own with limited assistance using Word and Excel and assist on bigger engagements with a high level understanding of the audit procedures. Inclusive of the course, the trainees will learn how to approach clients, how to work as a team, an element of assertiveness, time management, etc.

The delegates will be provided with a case study including general information regarding their client, a set of financial statements, and a set of supporting documents to be able to perform all the audit procedures necessary. They will also receive template work papers for the sections to perform the procedures on. The following will be covered during the training: Day1 • Introduction to the fundamental principles of auditing • Working paper preparation and best practices • Cross-referencing and indexing of working papers Day2 • Auditing property, plant and equipment and investment property Day3 • Auditing investments • Auditing inventories (focusing on the stock counts) and cost of sales Day4 • Auditing trade and other payables • Auditing provisions. • Auditing long-term liabilities (including instalment sale agreements and bonds) Day5 • Auditing the revenue cycle • Auditing trade and other receivables. For every section, the procedures performed will be discussed to bring to the delegates attention why the certain procedures are performed, to ensure they develop a sense of professional scepticism and not only do as they are told, but also understand why.

First year SAICA Trainees

• Own computers (PC or laptop) with Excel loaded onto the machine • Internet Connection (Wi-Fi or 3G) with sufficient data for the day • USB headset (microphone, speakers) for each delegate • Webcam (external or built-in) for each delegate • For the engagement activities and online tools, other devices such as the iPad and iPhone are not recommended. • Please ensure that you are logged in 15 minutes prior to the start of the session.