Introduction to Practical Auditing

This course is for new staff and those who will soon be working on audit assignments. It explains what an audit actually is and what an audit should achieve. This 2-day workshop includes practical case studies covering what will be expected of junior staff on the first few audit assignments on which they work.
A basic knowledge of accounting and double entry bookkeeping is required. The course will cover the following topics: The objective of a statutory audit; The types of entities that require an audit; The overall regulatory framework – International Standards on Auditing (UK & Ireland); The audit process in practice, and a junior’s role on an audit; Introduction to the concepts of materiality, risk and audit sampling; Introduction to financial statement assertions; Key audit techniques used; Working papers: documenting the work performed and conclusions reached; Cash at bank: audit objectives, procedures and evidence; and a brief introduction to the ICAEW/ACCA Code of Ethics and the requirement to report under the Money Laundering Regulations 2007