Course Overview
Financial statement auditing is a crucial function that supports the transparency, accuracy, and reliability of financial reporting. Auditors play a key role in ensuring that companies comply with regulatory frameworks and international auditing standards. This course offers an in-depth exploration of the financial auditing process, from planning the audit to documenting findings. Participants will learn the theoretical principles as well as practical auditing techniques to improve their ability to identify financial risks, evaluate internal controls, and conduct audits in accordance with professional standards.
Course Duration
5 Days
Who Should Attend
- Auditors and audit professionals
- Financial analysts
- Accountants and financial managers
- Internal auditors
- Risk management professionals
- Compliance officers
- Professionals seeking to enhance their understanding of financial statement auditing
Course Objectives
By the end of this course, participants will:
- Understand the fundamentals of financial statement auditing, including the regulatory framework and ethical considerations.
- Plan and conduct risk assessments to identify areas of potential material misstatement.
- Develop and execute audit procedures to gather sufficient and appropriate audit evidence.
- Evaluate the effectiveness of internal controls and assess control risks.
- Prepare and present audit reports in accordance with auditing standards.
- Apply professional skepticism and critical thinking in the audit process.
- Stay updated with the latest developments and trends in financial statement auditing.
Course Outline:
Module 1: Introduction to Financial Statement Auditing
- Overview of auditing principles and standards
- The role of the auditor and audit ethics
- Understanding the regulatory environment
- Introduction to audit planning and risk assessment
Module 2: Audit Planning and Risk Assessment
- Identifying and assessing audit risks
- Materiality and its impact on the audit
- Understanding the entity and its environment
- Developing the audit plan and strategy
Module 3: Audit Procedures and Evidence Gathering
- Types of audit evidence and their reliability
- Performing substantive testing and analytical procedures
- Testing internal controls and assessing control risks
- Documentation of audit work and findings
Module 4: Evaluating Internal Controls and Audit Sampling
- Assessing the effectiveness of internal controls
- Designing and performing audit tests of controls
- Audit sampling techniques and methodologies
- Evaluating audit evidence and drawing conclusions
Module 5: Audit Reporting and Current Trends in Auditing
- Preparing audit reports and management letters
- Communicating audit findings and recommendations
- Quality control and peer reviews in auditing
- Current trends and developments in financial statement auditing
Customized Training
This training can be tailored to your institution needs and delivered at a location of your choice upon request.
Requirements
Participants need to be proficient in English.
Training Fee
The fee covers tuition, training materials, refreshments, lunch, and study visits. Participants are responsible for their own travel, visa, insurance, and personal expenses.
Certification
A certificate from Ideal Sense & Workplace Solutions is awarded upon successful completion.
Accommodation
Accommodation can be arranged upon request. Contact via email for reservations.
Payment
Payment should be made before the training starts, with proof of payment sent to outreach@idealsense.org.
For further inquiries, please contact us on details below:
