The Financial Auditing Training Course at the Imperial Corporate Training Institute is designed to offer a comprehensive and structured approach to how financial audits are conducted, what principles govern the audit process, and what constitutes good auditing practice through the use of an organized structure of training modules. The course will provide participants with a solid basis in auditing by addressing the basic principles of auditing including developing an audit plan; identifying areas of auditor risk; establishing and monitoring internal controls; gathering, documenting, and evaluating evidence to support the auditor’s conclusions made during the audit; and providing a framework for making decisions about what constitutes reliable financial reporting.
Participants will also learn about both the theoretical and practical elements of conducting financial audits in accordance with international best practice standards for auditing. The financial audit training program is structured to help participants become familiar with the audit process and how audits are typically performed in real-life professional settings. At the conclusion of this course, participants should be able to read and interpret financial statements; develop and implement strategies for identifying potential audit risk; and apply basic audit techniques with a high degree of confidence and professional judgement.
Objectives
By completing the Fundamentals of Financial Auditing Training Course, participants will be able to:
- Understand the significance, scope, and objectives of Financial Auditing as it relates to contemporary organisations.
- Understand the role and duty of Auditors based on Professional and Ethical Principles.
- Identify the application of all International Auditing Standards in relation to Financial Audits.
- Lay the groundwork for the structure of Audit Planning and the management of Audit Engagements.
- Understand the assessment of Financial Auditing Risks and Materiality in relation to Financial Statements.
- Understand Internal Control Systems and the role that they play in relation to Audit Procedures.
- Collect, evaluate, and document sufficient and proper Audit Evidence.
- Conduct basic Audit Testing Procedures on the Key Areas of Financial Statements.
- Understand Audit Reports and Auditor Opinions.
- Improve Professional Judgment and Analytical Skills as they relate to Financial Auditing.
Target Audience
This Financial Audit Training Course is created for a broad base of Professionals and Learners including:
- Entry Level and Junior Auditors requiring a strong grounding in Financial Auditing.
- Accounting Professionals transitioning into Audit Roles.
- Finance Officers and Finance Managers participating in Financial Reporting and Compliance
- Internal Audit Staff desiring to increase their knowledge of External Financial Auditing.
- Risk and Compliance Professionals, who work with Financial Controls and Governance.
- Business Managers who interact with Auditors and Audit Reports.
- Graduates and Students enrolled in Accounting, Finance, or Business Studies.
- Professionals preparing for Advanced Audit or Accounting Qualifications.