International Audit
Revised and up to date for 2024/25. This course provides a detailed overview of international auditing. It will enable you to discover the latest updates in the area, and the key points to remember when obtaining auditing evidence, finalising audits and compiling auditor’s reports.
£100 +VAT
International Audit
£100 +VAT
This course will enable you to
- Stay up to date with the latest changes to International Standards on Auditing (ISAs)
- Familiarise yourself with the substantive procedures and tests of control involved in obtaining audit evidence
- Explore the complexities of auditing intangible assets, cash flow statements, and construction contract accounting
- Define the key steps involved when finalising an audit
- Feel confident about the required reporting aspects of the audit engagement, including the audit opinion
About the course
Auditing is a complex but crucial area for many organisations. With confidence in audit diminishing in many jurisdictions due to some recent high-profile scandals, it is increasingly important that a high-quality audit is carried out.
This course will keep you up to date on all the key changes in international auditing and the associated standards. Familiarise yourself with the procedures involved in obtaining auditing evidence, the key things to remember when finalising audits and issues that should be considered when delivery an opinion in the auditor’s report.
Contents
Recent changes to international auditing
The recent changes to ISAs
ISA 315 (Revised) Identifying and Assessing the Risks of Material Misstatement
What the auditor needs to do
Risk assessment
ISA 220 (Revised) Quality Management for an Audit of Financial Statements
Engagement partner responsibilities
Review requirements
ISA 540 (Revised) Auditing Accounting Estimates and Related Disclosures
How successful are the changes to the ISAs
Spectrum of inherent risk
Controls and scepticism
Disclosures and communication
ISQM 1 Quality Management for Firms that Perform Audits
Monitoring
ISQM 2 Engagement Quality Reviews
The complexities of auditing
Audit evidence
Gathering evidence
Test of controls
Substantive procedures
Six methods for generating evidence
Financial statement assertions
Comfort letters for receivables
Construction contract accounting
Intangible assets and audit risks
Auditing cash flow statements
The common complexitites
Audit finalisation
Evaluating misstatements
Reporting on key audit matters
The finalisation stage
The completion phase and going concern
Reporting on irregularities and fraud
Dealing with disagreements
Reporting issues in auditing
The unqualified audit opinion
A qualified opinion
When to use qualified audit opinions
Types of qualified opinions
Emphasis of Matter (EOM) paragraphs
EOM paragraphs
How to use an EOM paragraph
Reporting on other information
How it works
Author
Steve Collings
Steve is Director at Leavitt Walmsley Associates, a firm of Certified Chartered Accountants. He is an internationally recognised speaker, writer and commentator on all matters to do with financial reporting and auditing. Steve is a prolific author, having written over 25 books and currently represents the North West of England on ACCA”s Practice Network Panel.
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