Description
Course outline:
The purpose of an audit of financial statements is to express an opinion on whether the financial statements are free from material misstatements. For the auditor to provide reasonable assurance that there no material misstatement occurred the audit must be performed in accordance with the requirements of the International Standards of Auditing (ISAs) applicable to the audit of historical financial information. When getting down to the details, more than 40 ISAs drive the audit of historical financial information.
This session explores how the difference between poor and quality audit documentation is a game changer for the firm and the team, easily laying bare when there is a lack of sufficient and appropriate audit evidence.
Content:
The session will start with an introduction to the basics of audit documentation and what constitutes sufficient and appropriate audit evidence and will the focus on practical examples of how changing a poorly documented working paper can make a significant difference.
1. Definitions from ISA 230
2. Requirements of ISA 230
a. Relevant audit documentation
b. Departures from the requirements of an ISA
c. What to do if matters arise after the date of the audit report
d. What is allowed in the archive period
3. Definitions from ISA 500
4. What is required of the auditor in terms of ISA 500
5. What is required of the auditor in terms of:
a. Relevance and reliability of all audit evidence
b. Use of audit evidence produced by a management expert
c. Use of information produced by the entity
6. Practical actions when in doubt regarding the reliability of audit evidence
7. Practical examples and case studies
8. Summary
Important to note:
- The course is open for 12 months and will then close
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A recording will be made available after the session. The recording will be available even if you were not able to join the session, and thus no refund will be applicable.
