The Group and Consolidated Financial Audit Training Course offers a comprehensive overview of the process of performing audit engagements that encompass all of the components that comprise a group structure, including subsidiaries, associates, joint ventures, etc. Participants in this course will learn how to navigate the complexities of planning, executing, and reporting on group/consolidated financial audits in accordance with international auditing standards and regulations. Participants will also have the opportunity to develop a structured understanding of the preparation, audit, and review of consolidated financial statements for organisations with multiple entities, thereby ensuring that the financial statements are accurate, transparent, and compliant.
In addition, this training course will help participants understand how to apply their professional judgement when addressing group-wide risks, and to review the work completed by component auditors. Participants will learn to identify intra-group transactions, non-controlling interests, and foreign subsidiaries. In this way, the course offers a comprehensive overview of both the technical aspect of auditing and a practical application of these technical concepts to real-world scenarios. Participants will leave this training course with the knowledge, skills and competencies to manage and perform high quality audits of groups. This training course is presented by the Imperial Corporate Training Institute, and it enables participants to develop both theoretical knowledge and applied competency relevant to the modern financial auditing environment.
Objectives
By the end of the Group and Consolidated Financial Audit Training Course, participants will be able to:
- To understand the purpose and structure of consolidated and group financials
- To be knowledgeable about International Auditing Standards concerning Group Audits
- To identify and assess risks related to both Group Audits and Component Audits
- To plan and implement effective auditing procedures for Groups
- To evaluate the responsibilities and the functions of Group Auditors as well as those of Component Auditors
- To audit the process of preparing a consolidated financial statement, including the making of necessary adjustments and eliminations.
- To apply professional scepticism when reviewing intra-group transactions and balances
- To assess the impact of non-controlling interests and Equity Accounting
- To deal with issues that exist with Foreign Subsidiaries and Multiple Currency Reporting
- To prepare Audit Reports for Group Audits that meet the Grade and requirements of the Standards
Target Audience
This course is suitable for professionals involved in financial auditing, reporting, and assurance activities, including:
- External auditors working on group and consolidated audits
- Internal auditors involved in group-level financial reviews
- Audit managers and senior audit professionals
- Finance managers and financial controllers in group organisations
- Accounting professionals preparing consolidated financial statements
- Risk and compliance officers dealing with financial reporting oversight
- Professionals seeking to strengthen expertise in financial audit training courses