This course provides professionals the ability to create a seamless transition between theoretical financial analysis and its use in audit preparation, executing and reporting. The Financial Ratio Analysis and Audit Training Course at Imperial Corporate Training Institute is created so that participants develop a practical and comprehensive understanding of how to use financial ratios to evaluate an organisation’s success, develop support for conclusions taken during an audit, and measure overall financial health. The course focuses on interpreting and analysing ratios within the context of real-world businesses, allowing participants to move beyond simply performing calculations and to create a comprehensive understanding of what audit-related ratio information means in terms of developing reasonable, evidence-based audit recommendations.
The instructor will help participants look at the process of using ratio analysis within the context of performing audits, through identifying areas of risk, identifying unusual things happening within the financial reports of an organisation, and assessing if the business can sustain its current operation. The instructor will structure the course such that participants understand and will trust that they can use what they learn about ratios to evaluate how effective a company’s financial internal controls are, and what the effect of those controls is on the company’s financial statements. At the conclusion of this course, participants will understand that they can use ratio analysis to gain insight into business performance trends, assess the financial viability of a company and to improve their audit authority when conducting audits on businesses across several industries.
Objectives
Attendees will be able to:
- To build knowledge of the financial ratio analysis performed during the audit
- To interpret relevant financial ratios to evaluate the company’s profitability/liquidity/efficiency/solvency
- To assess an organisation’s financial position relative to others using ratio analysis
- To apply ratio analysis to the audit process for planning/risk assessment/testing of results
- To be able to develop an understanding of the audit process better through trend analysis and benchmarking
- To use trend analysis and benchmarking as a means to identify red flags/errors in the audit findings
- To establish correlations between financial ratio usage and business and internal control effectiveness
- To provide better insight for audits and financial evaluations through the use of professional judgement
Target Audience
- Internal and external auditors interested in developing advanced analytical skills
- Accounting/Finance professionals providing support to the audit function and to the financial organisation
- Financial Analysts looking to build more audit-related competencies
- Risk and Compliance Officers with knowledge of financial data
- Finance Managers conducting performance analysis/reporting of financial statements
- Individuals currently preparing for future Senior Financial Auditor Training Programs