Description
This is a series of 6 recorded webinars produced in response to requests from practitioners around the world to replicate the 2 day practical audit workshop which was run over the last 20 years by Michael Scott for a host of professional bodies in the UK, Ireland, Europe, Africa and the Caribbean. The course is designed to give partners and audit staff at small and medium sized audit firms an appreciation of the practical application of ISAs and the importance of good audit documentation with an emphasis on what Regulators are looking for.
The course is suitable for firms in any country applying ISAs and provides valuable insights into the level of documentation required by smaller firms to ensure satisfactory audit inspections. The course is particularly suitable for firms in countries where the ACCA’s Practice Regulation team is conducting inspections but it is also suitable for other Regulators as well. The course is available for use across the whole firm and is not restricted to one individual.
The six sessions cover:
- Preparing for a Regulatory Visit;
- Audit Acceptance Procedures
- Planning
- Recording Audit Evidence Part 1
- Recording Audit Evidence Part 2
- Completion, Control and Quality Management including ISQM 1.
Here are details over what each session covers:
Preparing for a Regulatory Visit (Session 1)
This session covers :
- Preparation for a regulatory visit
- The visit itself and what the regulator is looking for
- Reviewing a firm’s continuing obligations
- Producing post regulatory visit action plans
- Common findings of the Regulator
- Audit documentation and ISA 230
Audit Acceptance Procedures (Session 2)
This session covers:
- Acceptance and on boarding procedures
- Independence
- Opening balances and comparatives
- Laws and regulations
- Accounting system and internal controls
Planning (Session 3)
This session covers:
- Identification of key areas
- Risk and ISA 315 revised
- IT controls
- Materiality and performance materiality
- Fraud and error
Recording Audit Evidence Part 1 (Session 4)
This session covers:
- Recording audit evidence
- Audit sampling
- Property, plant and equipment
- Land and buildings
- Related party transactions
Recording Audit Evidence Part 2 (Session 5)
This session covers:
- Inventory
- Work in progress
- Receivables
- Payables
- Income
- Expenditure
- Payroll
Completion, Control and Quality Management including ISQM 1 (Session 6)
This session covers:
- Completion and control
- Audit reports
- Subsequent events and going concern
- ISA 220 and the role of the Audit Engagement Partner
- ISQM 1
- ISQM 2
Individual sessions can be purchased for £150 + VAT or the full package is available for £600 plus VAT (if you are based in UK).
“CPD Certificates are available on request. Completion of all sections of this webinar amounts to 11 hours audit related CPD”
