- Conduct financial audit tests efficiently, effectively and in accordance with International Standards on Auditing (ISAs)
- Carry out effective risk assessments when planning financial audits
- Document audit fieldwork clearly, concisely and as required by auditing standards
- Understand the important attributes of financial accounting and internal control systems and how they might be assessed and used when performing a financial audit
- Perform appropriate completion procedures when carrying out financial audits and communicate effectively with those charged with governance
For many new auditors, accounting and financial auditing skills are crucial when entering the field. However it is a discipline which creates major challenges. Financial auditing methodology is constantly changing, as are the rules and regulations that underpin the preparation of financial statements. An increasing number of companies across the
globe now prepare their financial statements under International Financial Reporting Standards (IFRS), an accounting approach which auditors increasingly need to be aware of.
This foundation level three-day course will provide participants with a detailed insight into the conduct of financial audits. You will learn general concepts and techniques for planning and conducting financial audits and how to apply them to the audit of specific account balances, business cycles and functions.
You will come away from the course with a sound grasp of financial statements, GAAP and GAAS, the accounting cycle, analytical procedures, materiality, sampling and substantive and compliancebased audit approaches.
A topic of particular focus will be the International Audit and Assurance Standard Board’s International Standards on Auditing (ISAs) and their application in conducting risk-based financial audits. Participants will learn through a combination of presentations, case studies, practical exercises and discussions.
For all auditors working within business, this seminar will provide you with crucial skills that will help you conduct an end-to-end financial audit of a set of IFRS financial statements to a competent standard and with a minimum of fuss.
Methodology: Although any course of this nature will require a significant amount of theoretical training, all sessions will be as practical as possible and include participant discussion. We will use a number of exercises and case studies throughout the course to illustrate key points and stimulate discussion amongst participants.
Course Director - Peter Herbert
Peter specialises in the development and delivery of practical training programmes and targeted both at financial professionals and non-finance managers.