Virtual Training Course
Junior Audit Engagement Simulation (No Methodology)
This Course is not part of the MUS Subscriber discount structure.
|R7935.00 (VAT Incl.) Per Person
|Ms Jeanmari Van Der Schyff
|12 Feb '24 to 16 Feb '24
|8 Apr '24 27 May '24
|Registration:08H30 Start:09H00 End:16H00
|Attendance at this seminar will secure 32.5 hour/s verifiable CPD points including other professional bodies (SAICA, SAIBA, ACCA, IACSA, IRBA & etc)
|Web Based (Online)
|Back Booking Closed
ProBeta Training would like to take the opportunity to invite all your first-year trainees to join us for five days of auditing. During these five days, I will do a step-by-step audit simulation where trainees will perform audit procedures on all the relevant and crucial sections applicable to junior trainees. Delegates will be provided with a set of financial statements and all the supporting documents they would receive in a real-life audit. Together we shall perform the audit where we teach them how to document appropriately in terms of the standards, what should be included in working papers, understanding assertions, and learn what audit procedures to perform for each of the sections listed below in the contents. Inclusive of the course, delegates will learn valuable soft skills such as how to approach clients, work as a team, assertiveness, time management, etc. This course assists delegates with being able to prepare a sample audit file to which they can always refer back to after the workshop. All first-year trainee accountants with a B. Com or similar degree and Basic Microsoft Word, Excel, and Windows skills will benefit greatly from attending this course. Please note: Delegates will be required to upload their working papers for review by an Assessor. Feedback will be provided by the Assessors by way of review notes. The content will cover the following elements in greater detail during this five-day course:
Day 1 • Read the case study • Fundamental Principles of Auditing • Recap of the Fundamental Principles • The valuation assertion • Performance materiality • Auditing journals • 10 Step audit programme • How to audit PPE? • Step by step explanations of how to audit PPE • Complete the fixed asset register • Residual values • Adding the journal entries to your fixed asset register • Explaining the journal entries in more detail • Upload the Excel sheet with the journal entries • How to pass the journal entries. • Upload your lead sheet • PPE audit programme. Day 2 • Documentation requirements • The use of legends (tick marks) • Performing the audit procedures for PPE and completing the working paper • How to cross-reference the lead sheet to the working papers • Upload your final "Fixed Asset Register" • Upload your final lead sheet • Auditing investment property • How to audit investment property? • Accounting for Investment Properties • Upload your accounting work for investment properties • Auditing Investment Properties • Completeness test for investment property • Upload your completeness test working paper • Upload your audit work for investment properties. Day 3 Auditing investments • How to audit investments? • Upload your accounting work for investments • Completeness test for investments • Upload your completeness working paper for investments • Complete the working paper for investments • Upload your final investment working paper. Audit inventory • How to audit inventory? • What happens during the stock take? • Obtain an understanding of inventory • Auditing raw materials • Upload your raw products working paper • Auditing finished goods • Upload your finished goods working paper • Net Realisable Value test (NRV) • Upload your NRV test working paper. Day 4 Auditing accounts payable • How to audit accounts payable? • Completeness test • Upload your completeness test for accounts payable • Trade payable reconciliation (valuation test) • Upload your reconciliation of payables working paper • Subsequent payment testing • Upload your "Subsequent Payment Test" working paper • Salary control account • Upload your completed "Salary Control Account" • Reconciling the age analysis with the amount on the lead sheet • Upload your current year's age analysis. Auditing provisions • What is the difference between a provision and a contingent liability? • Provision for bonuses • Upload your provision for bonuses working paper • Provision for leave pay • Upload your "Provision for Leave Pay" working paper • Provision for legal fees • Upload your "Provision for legal fees" working paper. How to audit accounts receivables • How to audit account receivables? • Upload your 10-point plan • My 10-point plan for debtors • Upload your revised 10-point plan. Day 5 Long term liabilities • How to do the accounting work for long term liabilities? • Instalment sale agreement for the “Pony Mixer’’ • Upload your working paper for the "Pony Mixer" • Instalment sale agreement for the ‘’Tablet Coating Machine’’ • Upload your working paper for the "Tablet Coating Machine" • Bond on the property • Upload your "Bond on property" working paper. Auditing revenue • How to audit revenue? • Testing the completeness of revenue • Upload your completeness test working paper • Detail cut-off test • Upload your detail cut-off test working paper • Credit note testing for fraud
First Year Trainees
Delegates must bring their own computers . All software must be fully licensed. All other material and stationery will be provided.
Registration: 08H00 Strat:08H30 End:16H00