Tarina Els
Audit Sampling – Advanced
FeaturedDuration: 1 hours Overview: One of the most common deficiencies identified by audit regulators is the lack of appropriate professional judgment applied. Audit sampling requires significant auditor judgment, and when deficiencies are identified with audit sampling, it creates doubt around the sufficiency and appropriateness of audit evidence obtained. Experience shows that sample sizes used by auditors during detailed substantive testing are often either not risk-based or based on an inappropriate level of risk. It is crucial for auditors to understand how risk assessment performed during planning interacts with the testing performed during the fieldwork stage of the audit. Only when this [...]
R385.00
Quality Management Standards Overview
Overview: The IAASB issued ISQM 1, ISQM 2 and ISA 220 (Revised) in December 2020. The passage of these three quality management standards is the culmination of the IAASB’s response to the changing environment, the challenges of the effectiveness of the pre-existing quality control standards, and growing market participant needs. The resulting suite of standards are aimed at a more robust system of quality management for firms using the IAASB’s standards, and marks an evolution from a traditional, more linear approach to quality control. These standards become effective on 15 December 2022, by which time firms should have addressed the requirements [...]
R495.00
Risk Assessment – Part 2
Overview: Many auditors underestimate the importance of obtaining a proper understanding of the entity, the system of internal control, and the relevant financial reporting framework, through the performance of risk assessment procedures. If properly done, it facilitates the risk assessment at financial statement and assertion level and assists with the formulation of an appropriate and efficient audit approach. With ISA 315 (Revised 2019) coming into effect for audits of financial statements for periods beginning on or after 15 December 2021, concepts in the existing standards have been expanded, and new concepts have been introduced in the risk assessment process. It is [...]
R275.00
Risk Assessment – Part 1
Overview: Many auditors underestimate the importance of obtaining a proper understanding of the entity, the system of internal control, and the relevant financial reporting framework, through the performance of risk assessment procedures. If properly done, it facilitates the risk assessment at financial statement and assertion level and assists with the formulation of an appropriate and efficient audit approach. With ISA 315 (Revised 2019) coming into effect for audits of financial statements for periods beginning on or after 15 December 2021, concepts in the existing standards have been expanded, and new concepts have been introduced in the risk assessment process. It is [...]
R275.00
Internal controls – Part 2
Overview: The evaluation of internal controls and the documentation thereof, and the conclusions reached are key components of the risk assessment process during planning of the audit. The communication with the client and the analysis of the systems of internal control is as valuable in achieving proper knowledge of the business and identifying areas of risk and fraud risk. A proper understanding of internal control may lead to the identification of areas where reliance may be placed on controls and contribute to a more efficient audit. Regulatory and monitoring experience in the profession has shown that the most findings relate to [...]
R275.00
Internal controls – Part 1
Internal controls Part 1 Overview: The evaluation of internal controls and the documentation thereof, and the conclusions reached are key components of the risk assessment process during planning of the audit. The communication with the client and the analysis of the systems of internal control is as valuable in achieving proper knowledge of the business and identifying areas of risk and fraud risk. A proper understanding of internal control may lead to the identification of areas where reliance may be placed on controls and contribute to a more efficient audit. Regulatory and monitoring experience in the profession has shown that the [...]
R275.00
IRBA Inspection Findings Report 2021
Overview: The IRBA is the audit regulator of South Africa and is regarded as a leader in audit regulation. Their annual inspections report is invaluable in determining topical deficiencies. The audit profession is under constant scrutiny, and it is therefore crucial that auditors maintain the highest standards of quality in their engagements. The IRBA issues their public inspections report annually to provide audit firms with insights regarding common themes and deficiencies identified from inspections performed. This information enables auditors to identify deficiencies within their own firms and put the necessary remedial measures in place. This training will give participants a practical [...]
R385.00
Auditing Financial Statement Disclosures and Cash Flow Statements
Overview: This training will give participants a practical understanding of how to audit compliance with IFRS requirements, and how to document everything in audit working papers. Participants will learn how to implement these requirements and principles through discussion of practical examples. Content and outline: To explain the following concepts and demonstrate their practical application: Important principles for auditing IFRS requirements How to interpret key requirements from financial reporting frameworks Evaluating financial statement disclosures Cash flow statements Common working paper deficiencies Practical application and documentation of required audit procedures. Certification: Upon completion of the training, participants will receive a verifiable attendance certificate. [...]
R385.00
Audit Basics
Overview: To formulate an appropriate audit approach, the auditor needs to get a proper knowledge of the business first. This involves performing risk assessment procedures and includes obtaining a proper understanding and evaluation of internal control. If these important steps are well understood and thoroughly performed, all relevant risks can be identified and appropriately assessed to inform the audit approach. Once this is in place, it is important to keep key principles in mind to ensure working paper efficiency throughout the audit. This course will give participants a practical understanding of how to formulate an appropriate and efficient audit [...]
R275.00