The External Audit and Assurance Training Course offers a professional development programme with the goal of developing the participant’s thorough understanding of External Auditing as well as developing practical knowledge and expertise through hands-on experience. The External Audit and Assurance Training Course has been created as part of the Imperial Corporate Training Institute’s Specialised Training Courses and will provide the participant with the Technical Skills and Technical Competence required to plan, perform, and provide External Audit Reports in accordance with International Auditing Standards and Professional Best Practices. The External Audit and Assurance Training Course considers the importance of the Auditor’s Independence and the Ethical Responsibility of Auditors; the Risk-Based Audit Approach, and the role that Assurance plays in adding value to the Stakeholder Confidence of Organisational Partners.
The Financial External Audit Training Course provides a comprehensive overview of the External Audit Process, from Engagement Acceptance through the Audit Planning Process through Evidence Gathering, Evidence Evaluation, and Final External Audit Reporting. As part of the Financial External Audit Training Course, participants will participate in real-world experience with Assurance Engagements, Internal Controls, Audit Documentation, and Quality Control Procedures associated with Audits. As part of the Financial External Audit Training Course, participants will be made aware of the Emerging Issues related to External Audits, such as Increased Regulatory Scrutiny, Increased Demands of Corporate Governance, and Increased Need for Transparency and Accountability in Financial Reporting. Finally, participants will complete the Financial External Audit Training Course with a Structured Approach to the Delivery of High Quality External Audit and Assurance Services in Any Organisation.
Objectives
Attendees will be able to:
- Develop knowledge & comprehension of external audit and assurance concepts, principles and objectives.
- Understand the function of external auditors to support financial credibility and increased stakeholder & the public’s confidence.
- Implement International Standards on Auditing (ISA) / Assurance (ISAE) into day-to-day audit practices in real-life audit engagements.
- Understand ethical requirements of External Auditors (incl. independence) and how they relate to professional conduct in external auditing practices.
- Identify & assess audit risk from the level of the Financial Statements and overall assertions.
- Develop effective audit plans based on risk assessment & Materiality considerations.
- Evaluate the effectiveness of internal controls and how they will affect your overall audit strategy.
- Conduct effective audit procedures to acquire the necessary evidence for a timely and appropriate conclusion.
- Evaluate audit findings in compliance with professional standards, and document appropriately.
- Have an understanding of the assurance engagement types other than the statutory audit.
- Provide successful conclusions in the preparation of concise structured External Audit Reports.
- Improve professional judgement and improve decision-making in complex audit situations.
Target Audience
- External auditors and audit associates
- Audit managers and senior audit professionals
- Chartered accountants and accounting professionals
- Internal auditors seeking transition into external audit roles
- Finance managers and financial controllers
- Risk and compliance professionals
- Corporate governance and assurance officers
- Accounting graduates pursuing careers in auditing
- Professionals involved in financial reporting and assurance services
- Consultants working in audit, assurance, and advisory functions