Auditing and Assurance Services

London Business Training & Consulting

Program Description

Auditing and Assurance Services

London Business Training & Consulting

Auditing and Assurance Services

KEY INFORMATION

  • Course Code: AFB109
  • Duration: 1 week
  • Fee: £2625

COURSE OUTLINE

The Auditing Profession

  • The demand for auditing and other assurance services
  • The CPA profession
  • Audit reports
  • Professional ethics
  • Legal liability

The Audit Process

  • Audit responsibilities and objectives
  • Audit evidence
  • Audit planning and materiality
  • Assessing the risk of material misstatement
  • Assessing and responding to fraud risks
  • Internal control and COSO framework
  • Assessing control risk and reporting on internal controls
  • Overall audit strategy and audit programme

Application of the Audit Process to the Sales and Collection Cycle

  • Tests of controls and substantive tests of transactions
  • Audit sampling for tests of controls and substantive tests of tests of transactions
  • Completing the tests in the sales and collection cycle: accounts receivable
  • Audit sampling for tests of details of balances

Application of the Audit Process to Other Cycles

  • Audit of the acquisition and payment cycle: tests of controls, substantive tests of transactions, and accounts payable
  • Completing the tests in the acquisition and payment cycle: verification of selected accounts
  • Audit of the payroll and personnel cycle
  • Audit of the inventory and warehousing cycle
  • Audit of the capital acquisition and repayment cycle
  • Audit of cash and financial instruments

Completing the Audit

  • Perform additional tests for presentation and disclosure
  • Review for contingent liabilities and commitments
  • Review for subsequent events
  • Final evidence accumulation
  • Evaluate results
  • Issue the audit report
  • Communicate with the audit committee and management
  • Subsequent discovery of facts

Target audience

This audit training is suitable for:

  • Internal auditors and government auditors.
  • Employees of certified public accounting (CPA) firms.
  • Those interested in up-to-date coverage of globally recognized auditing concepts with practical examples of the implementation of those concepts in real-world settings.
  • Those interested in the most important internationally recognized concepts of auditing to aid their audit decision making and evidence accumulation in today’s complex, global auditing environment.

Learning outcomes

Upon completion of this auditing courses, you will be able to understand:

  • Assurance services, including auditing and the role of CPA firms and other organizations in performing audits of financial statements and other information.
  • Audit reports, which are the final product of audits.
  • The regulation and oversight of CPA firms through ethical standards and the legal responsibilities of auditors.
  • Auditors’ and managements’ responsibilities, management assertions and audit objectives, and general evidence audit concepts.
  • Various aspects of audit planning, including risk assessment, internal control, and auditors’ responsibility for detecting fraud.
  • The integration of audit planning and audit evidence.
  • The methodology for designing tests of controls and substantive tests of transactions audit procedures for sales, cash receipts, and the other classes of transactions in the sales and collection cycle.
  • Non-statistical and statistical sampling methods for tests of controls and substantive tests of transactions.
  • The methodology for designing audit procedures for the audit of accounts receivable and other balances in the sales and collection cycle.
  • Audit sampling for tests of details of balances.
  • The audit of the acquisition and payment cycle, including the audit of accounts payable and other liability accounts.
  • The audit of the payroll and personnel cycle.
  • The audit of the inventory and warehousing cycle, including physical observation tests and the relationship of the inventory and warehousing cycle to other cycles.
  • The audit of the capital acquisition and repayment cycle.
  • The audit of cash and investment balances.
  • How to design and perform audit tests related to presentation and disclosure audit objectives.
  • How to conduct a review of contingent liabilities and commitments.
  • How to obtain and evaluate letters from the client’s attorneys.
  • How to conduct a post-balance-sheet review for subsequent events.
  • How to design and perform the final steps in the evidence-accumulation segment of the audit.
  • How to integrate the audit evidence gathered and evaluate the overall audit results.
  • How to communicate effectively with the audit committee and management.
  • The auditor’s responsibilities when facts affecting the audit report are discovered after its issuance.

WHAT IS INCLUDED:

  • 30 hours of classroom-based training
  • Apple iPad
This school offers programs in:
  • English


Last updated September 23, 2018
Duration & Price
This course is Campus based
Start Date
Start date
Mar. 4, 2019
July 1, 2019
Duration
Duration
Full time
Price
Price
2,625 GBP
Information
Deadline
Locations
United Kingdom - London, England
Start date : Mar. 4, 2019
Application deadline Request Info
End date Mar. 8, 2019
Start date : July 1, 2019
Application deadline Request Info
End date July 5, 2019
Start date : Oct. 2019
Application deadline Request Info
End date Request Info
Start date : Nov. 4, 2019
Application deadline Request Info
End date Nov. 8, 2019
Dates
Mar. 4, 2019
United Kingdom - London, England
Application deadline Request Info
End date Mar. 8, 2019
July 1, 2019
United Kingdom - London, England
Application deadline Request Info
End date July 5, 2019
Oct. 2019
United Kingdom - London, England
Application deadline Request Info
End date Request Info
Nov. 4, 2019
United Kingdom - London, England
Application deadline Request Info
End date Nov. 8, 2019