Course Description
International Accounting Standards are definitive. These are the rules and guidance that all accountants must follow and thus all investors and business managers understand. This seminar explains in a meaningful and practical way what the Standards mean and how they should be applied.
This includes:
The authority of the Standards
Understanding the Standards - the principles and detail
Applying the Standards in practice
The future of Standards - the problems to be addressed
Course Objective
- Understand the need for consistent high standards
- Be aware of international practice development
- Improve audit planning
- Know why standards exist
- Understand the logic behind standards
- Understand what the "jargon" means
- Learn how to apply the standards
- Be able to identify cases of non-application
- Improve report writing
- How to conclude the audit
Course Certificate
Masters Consultant certificate will be issued to all attendees completing minimum of
75% of the total tuition hours of the course.
Course Description
International Accounting Standards are definitive. These are the rules and guidance that all accountants must follow and thus all investors and business managers understand. This - seminar explains in a meaningful and practical way what the Standards mean and how they - should be applied.
This includes:
- The authority of the Standards
- Understanding the Standards - the principles and detail
- Applying the Standards in practice
- The future of Standards - the problems to be addressed
Course Objective
- Understand the need for consistent high standards
- Be aware of international practice development
- Improve audit planning
- Know why standards exist
- Understand the logic behind standards
- Understand what the "jargon" means
- Learn how to apply the standards
- Be able to identify cases of non-application
- Improve report writing
- How to conclude the audit
Course Certificate
Masters Consultant certificate will be issued to all attendees completing minimum of
75% of the total tuition hours of the course.
Who Should attend?
Partners, managers and staff of accounting firms
Directors, managers and staff in internal audit departments
If you are at all involved in the audit process then you need to be aware of what is best practice. This applies to the partner/director leading and signing off the audit right through to junior staff who need to appreciate the detailed work needed to arrive at a reliable audit opinion
Course Outline
Introduction
- Assurance Engagements
- Framework of ISAs
- Objective and General Principles Governing an Audit of Financial Statements
- Terms of Audit Engagements
- Quality Control for Audit Work
Documentation and audit files
- Documentation
- The Auditor's Responsibility to Consider Fraud and Error in an Audit of Financial Statements
- Fraud and Error
- Consideration of Laws and Regulations in an Audit of Financial Statements
- Communications of Audit Matters with Those Charged with Governance
- Management Representations
- Using the Work of another Auditor
- Considering the Work of Internal Auditing
- Using the Work of an Expert
Audit Planning
- Planning
- Knowledge of the Business
- Audit Materiality
- Risk Assessments and Internal Control
- Auditing in a Computer Information Systems Environment
- Audit Considerations Relating to Entities Using Service Organizations
Audit Evidence
- Audit Evidence
- Audit Evidence-Additional Considerations for Specific Item
- External Confirmations
- Initial Engagements - Opening Balances
- Analytical Procedures
- Audit Sampling and other Selective Testing Procedures
- Audit of Accounting Estimates
Audit Completion and Disclosure Issues
- Related Parties
- Subsequent Events
- Going Concerns
- The Auditor's Report on Financial Statements
- Comparatives
- Other information in documents containing Audited Financial statements