About Course

Day 1: Introduction to Financial Auditing

• Morning Session:

  • Welcome and course overview
  • Understanding the role of auditors
  • Importance of financial audits

• Afternoon Session:

  • Types of audits (external, internal, forensic)
  • Audit standards and regulations (e.g., GAAS, PCAOB, ISA)
  • Ethical considerations in auditing

Day 2: Audit Planning and Risk Assessment

• Morning Session:

  • Audit planning process
  • Engagement letter and terms of engagement
  • Materiality and audit risk

• Afternoon Session:

  • Understanding the client's business and industry
  • Risk assessment and the audit risk model
  • Identifying and assessing internal controls

Day 3: Audit Procedures and Evidence

• Morning Session:

  • Audit evidence and documentation
  • Audit procedures (tests of controls and substantive procedures)
  • Sampling techniques in auditing

• Afternoon Session:

  • Analytical procedures
  • Audit sampling methods
  • Documenting audit findings

Day 4: Audit Testing and Reporting

• Morning Session:

  • Completing substantive testing
  • Audit sampling in substantive testing
  • Fraud risk assessment and detection

• Afternoon Session:

  • Audit completion and reporting
  • Types of audit reports (unqualified, qualified, adverse)
  • Other reporting considerations (emphasis of matter, going concern)

Day 5: Special Topics and Case Studies

• Morning Session:

  • Auditing specific account balances (e.g., cash, inventory, receivables)
  • Auditing investments and property, plant, and equipment
  • Auditing revenue recognition

• Afternoon Session:

  • Case studies and practical application
  • Audit best practices
  • Q&A session and course wrap-up