Auditing Essentials - Preparing for Your First Engagement & Beyond

Introduction

Presented by expert speaker David Potts, this practical webinar series provides a comprehensive introduction to the audit process, from start to finish. Designed in short, manageable sessions, it is ideal for junior staff and students preparing for their first audit engagement.

What You Will Learn

This modular webinar series will cover the following:

Module 1 - Introduction to Auditing

• Understanding statutory audits vs. internal audits
• Legal scope, responsibilities, and obligations of an auditor
• The audit team - roles and responsibilities, including the senior statutory auditor
• Auditor independence and ethical standards
• Overview of International Standards on Auditing (ISAs) and ISAs UK

Module 2 - Planning Your Audit

• Understanding the client, environment, industry, and business
• Identifying, documenting, and recording systems and controls
• Recognising different types of audit risks and appropriate audit responses
• Planning audit work, setting objectives, and applying tests (including sampling techniques)

Module 3 - Gathering Audit Evidence

• Tests of controls vs. tests of detail - key differences
• Types of audit evidence and evaluating reliability
• Practical testing techniques - enquiry, observation, and more

Module 4 - Audit Documentation and File Completion

• Properly documenting audit evidence
• Conducting audit file reviews
• Summarising findings and drawing conclusions

Module 5 - Reporting and Communication

• The Statutory Audit Report - understanding unqualified and modified opinions
• Preparing other reports - management reports and communications with those charged with governance