The Advanced Financial Accounting Audit Training Course at Imperial Corporate Training Institute covers advanced financial accounting concepts and their application to the audit process in depth and with a focus on practical use. As such, its more advanced content includes an in-depth look into areas like consolidated financial statements, revenue recognition, impairment testing and fair value measurements; while it encompasses the integration of these advanced accounting treatments with planning, executing and reporting on a financial audit.
In addition, this course addresses important related topics including professional scepticism, assessment of audit risk, compliance with the accounting standards and using audit evidence to form an opinion. At the end of this training, participants are able to complete and/or supervise an advanced financial audit, using sound judgment and with confidence in their ability to perform their work according to international best practices, regardless of the complexity of the organisation in which they are working.
Objectives
Upon completing the Advanced Financial Accounting Audit Training Course, participants will be able to:
- Develop proficiency in advanced accounting principles and understand the implications of these principles on the planning and execution of your audit engagements.
- Understand and audit consolidated financial statements prepared under international accounting standards.
- Evaluate the accounting policies used, the estimates made and the management judgements taken in preparing consolidated financial statements from an audit perspective.
- Use advanced auditing techniques to audit high-risk areas and complex financial instruments.
- Evaluate the risks associated with auditing complex transactions and the financial reporting frameworks under which they are reported.
- Strengthen the professional judgement and scepticism that goes into undertaking financial audits.
- Understand and evaluate the group audit considerations and reports.
- Undertake audits of revenue recognition, financial instruments and fair value determinations.
- Audit for impairment and related provisions using an advanced audit process.
- Continue to improve the quality and quantity of documentation in support of professional standards for auditing.
Target Audience
This financial audit training course is suitable for professionals who are involved in or responsible for financial accounting and auditing activities, including:
- Internal and external auditors seeking advanced technical expertise
- Senior accountants and financial controllers
- Audit managers and audit supervisors
- Finance managers and heads of finance departments
- Risk and compliance professionals
- Professionals working in public practice or corporate finance functions
- Accounting and audit professionals preparing for senior or leadership roles