26th January- Day one: A presentation update by the ACCA audit compliance team.
27th January- Day Two - Planning the audit assignment in an efficient and effective manner.
This module will introduce participants to the requirements of International Standards on Auditing 210, 300,315, 320 and 330. Participants will be shown how to meet these requirements in an effective and efficient manner that will allow good audit planning to form the foundation of a quality audit.
28th January- Day Three - Auditing fixed assets (tangible and intangible assets), investments, stocks, debtors and bank and cash.
This module will provide guidance on the design and execution of audit verification procedures that will provide sufficient and appropriate audit evidence in relation to these asset classes. Participants will be encouraged to use their knowledge of the client and the client’s business to design appropriate client specific verification procedures. Common deficiencies in the verification of these asset classes will be outlined to illustrate the results of poor execution of audit verification procedures. Requirements of related International Standards on Auditing will be outlined in the context of the above subject matter
29th January- Day Four - Auditing trade creditors, accruals, bank loans, other liabilities, deferred income, accounting estimates and the profit & loss line items.
By applying a similar learning approach to that in module 2, this module will provide guidance on the design and execution of audit verification procedures that will provide sufficient and appropriate audit evidence in relation to the completeness and accuracy of liabilities and the various Profit & Loss account line items. Requirements of related International Standards on Auditing will be outlined in the context of the above subject matter.
30th January - Day Five - Audit completion section including the Responsible Individual file review.
In addition to providing guidance to the Responsible Individual on undertaking an effective file review, this module will also address the following audit file areas:
- Audit documentation.
- Going concern.
- Post balance sheet events.
- Analytical procedures.
- Related parties.
- Written Representations.
- Consideration of Laws and Regulations in an Audit of Financial Statements.
- Communication with Those Charged with Governance.
- Evaluation of Misstatements Identified during the Audit.
- Responsibilities Relating to Fraud in an Audit of Financial Statements.
- Forming an Opinion and Reporting on Financial Statements.
