INTRODUCTION
An audit is a systematic review and assessment of information or documents. There are a few different types of audit but, in the specific context of professional services, an audit is usually financial. It is intended to provide reasonable assurance, that the financial statements give a true and fair view in accordance with the financial reporting framework. Auditing is by far the most important process in maintaining and evaluating an organization s finances, internal controls, and transparency. Maintaining these parameters will help the organization achieve business objectives, prevent fraud and misappropriation of assets, monitor compliance with company and government policy and help assure customers, shareholders, and investors.
This training course examines and applies the key elements of internal auditing. Extend your auditing skills and add value to your organization with our Auditing and Assurance Training Course.
OBJECTIVES
By the end of this Auditing and Assurance Training Course, you will learn:
The concept and function of audit and assurance, corporate governance, ethics and professional conduct
How to distinguish between internal and external audits
How to assess misstatements and analyse potential risks arising from fraud
How to make appropriate recommendations after exposing potential risks
How to perform IT-related audits and review financial statements
How to manage internal audit reports, statutory reports and other types of reports
How to help organizations gain customer and investor assurance
How to help organizations comply with government regulations and policies
Explain the principles and elements of the internal audit function.
Demonstrate how internal auditing works.
Identify the standards under which internal audits are conducted.
Develop a practical perspective into contemporary work practices in your field.
WHO SHOULD ATTEND ?
This Auditing and Assurance Training Course ideal for: Internal auditors and government auditors.
Employees of certified public accounting (CPA) firms.
Who is preparing for the Audit and Assurance exam conducted by the prestigious ACCA (Association of Chartered Certified Accountants).
Those interested in up-to-date coverage of globally recognised auditing concepts with practical examples of the implementation of those concepts in real-world settings.
Those interested in the most important internationally recognised concepts of auditing to aid their audit decision making and evidence accumulation in today s complex, global auditing environment.
COURSE OUTLINE
Day 1
The Auditing Profession
The concept of accountability
Economic demand for auditing
Auditing as a monitoring device
The historical development of auditing practices.
The demand for auditing and other assurance services
The CPA profession
Audit reports
Professional ethics
Legal liability
Day 2
The Audit Process
Audit responsibilities and objectives
Audit evidence
Audit planning and materiality
Assessing the risk of material misstatement
Assessing and responding to fraud risks
Internal control and COSO framework
Assessing control risk and reporting on internal controls
Overall audit strategy and audit programme
Day 3
Application of the Audit Process to the Sales and Collection Cycle
Tests of controls and substantive tests of transactions
Audit sampling for tests of controls and substantive tests of tests of transactions
Completing the tests in the sales and collection cycle: accounts receivable
Audit sampling for tests of details of balances
Day 4
Application of the Audit Process to other Cycles
Audit of the acquisition and payment cycle: tests of controls, substantive tests of transactions, and accounts payable
Completing the tests in the acquisition and payment cycle: verification of selected accounts
Audit of the payroll and personnel cycle
Audit of the inventory and warehousing cycle
Audit of the capital acquisition and repayment cycle
Audit of cash and financial instruments
Day 5
Completing the Audit
Perform additional tests for presentation and disclosure
Review for contingent liabilities and commitments
Review for subsequent events
Final evidence accumulation
Evaluate results
Issue the audit report
Communicate with the audit committee and management
Subsequent discovery of facts
IN-HOUSE TRAINING
LPC Training is capable of conducting this training programme exclusively for your delegates. Please e-mail us on admin@lpcentre.com for further information and/or to receive a comprehensive proposal.
www.lpcentre.com
DOCUMENTATION
High-Quality material has been prepared by the LPC team for distribution to delegates. In addition, a special note pad to facilitate note-taking will be provided.
CERTIFICATES
Accredited Certificate of completion will be issued to those who attend & successfully complete the programme.
SCHEDULE
Our Course timings commence at 09:00AM12:45PM Or 01:00PM - 05:00PM.
REGISTRATION & PAYMENT
Please complete the registration form on the course page & return it to us indicating your preferred mode of payment. For Further Information, please get in touch with us.
CANCELLATION AND REFUND POLICY
Delegates have 14 days from the date of booking to cancel and receive a full refund or transfer to another date free of charge. If less than 14 days notice is given then we will be unable to refund or cancel the booking unless on medical grounds. For more details about the Cancellation and Refund policy, please visit www.lpcentre.com/terms-and-conditions/
TRAVEL AND TRANSPORT
We are committed to picking up and dropping off the participants from the airport to the hotel and back.
CONTACT INFO
LONDON
Oxford Street, 25 N Row, London W1K 6DJ
+44 20 36 916 970 | +44 20 80 900 464 info@lpcentre.com
DUBAI
Business Bay, ParkLane Tower, Offices 718 - 719
+971 43 88 00 94
dubai.training@lpcentre.com
KUALA LUMPUR
No. 3273 Level 32, Menara Prestige, 1, Jalan Pinang, 50450 Kuala Lumpur +60 19 305 5694
www.lpcentre.com
www.lpcentre.com