Programme Objective

Ever wonder why you need to perform a specific audit procedure and when to perform the audit procedure?   Designed for audit working paper preparers with limited practical audit experience, PAW – AWP 1 aims to provide practical guidance in the application of the audit concepts and audit documentation requirements.  Using case studies of Singapore incorporated company, you will be able to understand the rationale of performing the audit procedure, applying the relevant audit procedure, the documentation requirements and also be exposed to common audit exceptions.  This course provides a consistent audit approach using ISCA AMSE as the audit tool. 
 
Upon completing the course, primary reviewers and Audit Partners would have a clear and consistent understanding of the audit work performed by you and able to address any audit exceptions highlighted by you on a timely basis.

Programme Outline

At the end of the 5-day PAW–AWP 1, you will be able to:

• Recognize the role, ethical and professional requirements and responsibilities of the various levels of audit engagement team members;
• Understand the key audit concepts and requirements through the various audit case study examples:
  • Audit evidence
  • Audit sampling
  • Audit documentation;
• Understand the objective of work paper preparation, including recommended practices in work paper preparation, and apply the audit documentation techniques;
• Understand the business processes and documentation techniques in the audit planning process, in the following areas:
  • Financial reporting process
  • Revenue cycle
  • Expenditure cycle
• Understand and apply the relevant audit concepts and documentation techniques while performing the audit procedures in the following areas:
  • Cash
  • Property, plant and equipment
  • Loans
  • Trade and other receivables
  • Investments
  • Inventories
  • Trade and other payables
  • Income tax payable and deferred tax liabilities
  • Profit and loss accounts (revenue, cost of sales and operating expenses)
• Understand and apply the concept of audit procedures and documentation requirements in relation to the audit completion process; and
• Understand and be able to help improve the overall audit efficiency and effectiveness by assisting in the audit planning process and highlighting audit exceptions for resolution by the senior engagement team members, where applicable.

Closing Date for Registration
 

1 week before programme or until full enrolment

Assessment
Assessments will be conducted during mid and end of workshop.

Rescheduling of Assessment Date 
Participants can request for a rescheduling of assessment date. An administrative fee of $53.50 (including GST) will be payable. This fee will be waived if the rescheduling is due to medical or compassionate reason. Please provide relevant supporting documents.

Re-assessment
Participants who do not score an overall pass for the assessments can request for a re-assessment within 7 working days from the last day of the course. An administrative fee of $107.00 (including GST) will be payable. A re-assessment will be arranged within 14 working days from the last day of the course. Participants may attempt the re-assessment once only.

Click PAW homepage for details on Practical Audit Workshop.
------------------------------------------------------------------------------------------------------------------------------

Intended For

PAW-AWP 1 workshop is specially designed for audit working paper preparers of small and medium-sized public accounting firms (SMPs), with little or no practical audit experience to equip themselves with the necessary audit knowledge and understanding of the audit documentation requirements.

Programme Facilitator(s)