Programme Objective

To provide audit professionals with guidance on identifying and evaluating related parties and related party transactions, and an understanding of how these can provide opportunities for fraudulent financial reporting. This course will also cover the financial statement disclosure requirements for related parties and related party transactions.

Programme Outline

• Definitions of related parties and related party transactions.
• Identifying related parties and related party transactions – responsibilities of auditors and management.
• Indicators of related party transactions.
• Disclosure requirements for related parties and related party transactions.
• Understanding the audit client and its environment to enable identification of events, transactions and practices that may result in a risk of material misstatement through related parties and related party transactions.
• Fraud risk factors that may arise from/through related party transactions.
• Key audit procedures relating to related party transactions including obtaining written representations from management and those charged with governance, and communication with those charged with governance.

Training Methodology

Closing Date for Registration

Intended For

A Foundation to Intermediate level programme intended for both Practising and Non-Practising Accountants and Auditors. Those who like to gain more understanding in the examination of related parties and related party transactions are welcome to attend.