Financial Instruments – Audit Quality Webinar
August 20, 2021 @ 9:00 am - 11:00 am SAST| from R520
Financial instruments (with case study on ECL and estimates)
Duration: 2 hours
Auditors often overlook the importance of auditing financial instruments. Even common balances like cash and bank, accounts receivable, and accounts payable classify as financial instruments, and their classification, recognition, and measurement in terms of the accounting framework require appropriate audit procedures. IFRS has more complex disclosure requirements which require detailed attention.
This webinar will give participants a practical understanding of key requirements relating to financial instruments, how to apply them during the audit and how to document everything in audit working papers. Participants will learn how to implement these requirements and principles in practice through discussion of practical examples.
Content and outline:
To explain the following concepts and demonstrate their practical application:
- Important principles for auditing financial instruments
- Key requirements from financial reporting frameworks
- Expected credit losses
- Auditing estimates
- Common working paper deficiencies
- Practicing the correct implementation of requirements in audit working papers.
Upon completion of each workshop, the participants will receive a verifiable attendance certificate.