Course Detail(ADT025 : Understanding the Audit Client and Risk Assessment)

ADT025 : Understanding the Audit Client and Risk Assessment

7.00 CPE Hours (Category 3)
Classroom

Programme Objective

To provide audit professionals with guidance on understanding the audit client’s business strategy, business processes and business risks with a view to identifying, analyzing and evaluating the effects of these risks on the financial statements being audited.

Programme Outline

  • The importance of understanding client business strategy and how to conduct external risk analysis.
  • The importance of understanding client operational processes and how to conduct internal risk analysis.
  • How to link identified risks to their impact(s) on financial statement account components and assess the risk of material misstatements in these accounts.
  • The audit risk model – components and limitations.
  • How to use identified risks to evaluate preliminary going concern assessments for the audit client.
  • (Preliminary) Financial Statement Analysis for identification of potential areas of risk of material misstatement.
  • Hands-on evaluation of a case scenario that will illustrate the relationship between understanding the audit client’s business and assessing audit client risks and assessing the risk of material misstatements in the financial statements.


Training Methodology
Lecture style, with Exercises/Case Studies, Quiz / Knowledge Check

Closing Date for Registration
1 week before programme or until full enrolment

Intended For

A Foundation to Intermediate level programme intended for Auditors.

Competency Mapping

Category 3 = 7.00 Hours

Schedule & Fees

Date & Time

31 Oct 2019 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Loh Ji Kin

Date & Time

01 Nov 2018 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Loh Ji Kin

Date & Time

23 Nov 2017 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Loh Ji Kin

Testimonial

Funding

No funding Available!

Programme Facilitator(s)


Loh Ji Kin
Director, Assurance
Nexia TS Public Accounting Corporation

Mr. Loh is a Director in Nexia TS Public Accounting Corporation. His main role in firm is serving as engagement partner for audit clients, which includes a spectrum of publicly listed and private clients spanning various industries. Mr. Loh also heads the firm’s Training Department as well as its Assurance Technical and Quality Control Department, being a subject matter expert in both accounting and auditing standards.

Prior to joining Nexia TS, Mr. Loh spent almost 15 years with an international accounting firm, serving a number of roles. In an assurance capacity, he served clients in statutory audits and other special assignments. These clients included listed and private companies as well as multi-national corporations, in various industries, including the oil & gas, insurance, investment-holding and manufacturing sector.

Mr. Loh also played an integral role in the internal technical department, primarily focused on auditing standards and audit quality, including external reporting, in both audit and non-audit services. He also played a key role in conducting training in accounting standards, audit methodology and related soft skills, including project and client management.

Mr. Loh is a practising member of the Institute of Singapore Chartered Accountants.

Programme Objective

To provide audit professionals with guidance on understanding the audit client’s business strategy, business processes and business risks with a view to identifying, analyzing and evaluating the effects of these risks on the financial statements being audited.

Programme Outline

  • The importance of understanding client business strategy and how to conduct external risk analysis.
  • The importance of understanding client operational processes and how to conduct internal risk analysis.
  • How to link identified risks to their impact(s) on financial statement account components and assess the risk of material misstatements in these accounts.
  • The audit risk model – components and limitations.
  • How to use identified risks to evaluate preliminary going concern assessments for the audit client.
  • (Preliminary) Financial Statement Analysis for identification of potential areas of risk of material misstatement.
  • Hands-on evaluation of a case scenario that will illustrate the relationship between understanding the audit client’s business and assessing audit client risks and assessing the risk of material misstatements in the financial statements.


Training Methodology
Lecture style, with Exercises/Case Studies, Quiz / Knowledge Check

Closing Date for Registration
1 week before programme or until full enrolment

Intended For

A Foundation to Intermediate level programme intended for Auditors.

Competency Mapping

Category 3 = 7.00 Hours

Programme Facilitator(s)

Loh Ji Kin
Director, Assurance
Nexia TS Public Accounting Corporation

Mr. Loh is a Director in Nexia TS Public Accounting Corporation. His main role in firm is serving as engagement partner for audit clients, which includes a spectrum of publicly listed and private clients spanning various industries. Mr. Loh also heads the firm’s Training Department as well as its Assurance Technical and Quality Control Department, being a subject matter expert in both accounting and auditing standards.

Prior to joining Nexia TS, Mr. Loh spent almost 15 years with an international accounting firm, serving a number of roles. In an assurance capacity, he served clients in statutory audits and other special assignments. These clients included listed and private companies as well as multi-national corporations, in various industries, including the oil & gas, insurance, investment-holding and manufacturing sector.

Mr. Loh also played an integral role in the internal technical department, primarily focused on auditing standards and audit quality, including external reporting, in both audit and non-audit services. He also played a key role in conducting training in accounting standards, audit methodology and related soft skills, including project and client management.

Mr. Loh is a practising member of the Institute of Singapore Chartered Accountants.


Upcoming Schedule

Registration is closed

Date & Time

31 Oct 2019 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 345.61
For Non-Members: $ 415.16

Programme Facilitator(s)

Loh Ji Kin

Venue

137 Cecil Street
Level 4
Hengda Building
Singapore 069537