Virtual Training Course

Draftworx Audit Methodology

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

Price: R2530.00 (VAT Incl.) Per Person
Presenter: Ms Yvonne Rossouw
Date: 27 Jun '22 to 28 Jun '22
Times: Registration:08H00 Start:08H30 End:16H00
Duration: 2 Day
CPD Hours: Attendance at this seminar will secure 13 hour/s verifiable CPD points including other professional bodies (SAICA, SAIBA, ACCA, IACSA, IRBA & etc)
Platform: Web Based (Online)
Course Facilitator: Neriss Singh
T:  011-886-1395
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Use your audit software correctly to ensure an effective and effecient audit of high quality. One of the most cited root causes for audit deficiencies is insufficient knowledge of the audit software used. With technology improving at a rapid rate, it can either enhance the audit, or prove to be a headache if employees are not competent to use the tools. Draftworx can ensure that your audit file is complete and compliant with the standards, but if not used properly, there can be deficiencies in your file. This course will explain the planning and finalisation documents in Draftworx, how to complete them and how they interact to build your auditfile.

The main focus of this course is the planning and finalisation of the audit, ensuring that delegates understand all the considerations affecting the audit plan and that they get the opportunity to plan an audit thoroughly through a practical case study. The course also covers other important aspects such as sampling, materiality, risk assessments, the proper utilisation of audit programmes and finalising the audit. Understanding where the ISA's are applied in Draftworx is an important part of everyday practice, which is dually noted throughout this course

During this course we will focus on the following areas: • Pre-engagement planning o Identifying the risk of the engagement o Identifying ethical dilemmas o Whether pre-conditions are met o Should the engagement be accepted • Calculating the overall and performance materiality for the engagement • Performing risk assessment procedures and identifying and assessing risk o At Financial statements level o At Assertion level for every FSA • Completing the audit planning documentation and the effect on the rest of the audit file • Finalising the audit with a specific look at o Subsequent events o Going concern issues o Reporting to management o Reporting to IRBA o Audit report

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

Delegates must bring their own computers with Draftworx template already loaded. All software must be fully licensed. All other material and stationery will be provided.