Auditing Financial Statements - From Start to Finish

Introduction

During this virtual classroom seminar expert speaker David Potts will take you through the audit process from start to finish

This session is ideal for junior members of staff and those who would like a refresher of the most important aspects and requirements of the audit process.

What You Will Learn

This live and interactive course will cover the following:

• Introduction
• What is a statutory audit compared with an internal audit
• The legal scope, responsibilities and obligations of the auditor
• What is an audit team - the role of the senior statutory auditor
• Auditor independence and ethical standards
• The role of International Standards of Auditing (ISAs) and ISAs UK
• Initial steps and planning
  • Understanding the client, environment, industry and business
  • What are systems and controls and how to identify, document and record
  • Audit risks - the different types explained and the audit responses required
  • Planning the audit work, audit objectives and tests (sampling techniques)
• Audit evidence
• Test of control and tests of detail - what is the difference?
• Different types of audit evidence and which is the most important and reliable
• Testing techniques such as enquiry and observation
• File completion and documentation
• How to properly document audit evidence
• Audit file reviews and summary of audit findings and conclusions reached
• Reporting
  • The Statutory Audit Report and modifications from an Unqualified Report
  • Other reports required such as reports to management and those charged with governance

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.