Programme Objective

To provide audit professionals with guidance on identifying and evaluating internal controls relevant to an audit of financial statements with a view to designing appropriate audit procedures to collect sufficient appropriate audit evidence. This course will also cover reporting requirements relating to deficiencies in internal control identified during an audit to those charged with governance and management.

Programme Outline

• The auditor’s responsibilities for understanding, assessing, testing and evaluating the operating effectiveness of internal controls relevant to the audit.
• Using an appropriate control framework (such as the COSO framework) to assess and evaluate client internal controls.
• Obtaining an understanding of the client’s system of internal control including an assessment of the strength of the client’s corporate governance mechanisms.
• Risk assessment procedures performed to arrive at a preliminary assessment of the risks in an audit client.
• Testing the adequacy and operating effectiveness of internal controls.
• Evaluating the results of tests of controls, re-assessing the risks and determining the nature, timing and extent of substantive tests.
• The auditor’s responsibility to report significant and other deficiencies in internal control to those charged with governance and management.
• Reporting requirements and procedures on significant and other deficiencies in internal control detected during the audit. 

Training Methodology

Closing Date for Registration

Intended For

An Intermediate to Advanced level programme intended for both Practising and Non-Practising Accountants and Auditors. Those who like to have guidance on identifying and evaluating internal controls relevant to an audit of financial statements are welcome to attend.