Price:
R506.46 (VAT Incl.)
Level:
Auditing Professionals
Sub-level:
Auditing
Lecturer:
Lynette Badenhorst
Duration:
120 Minutes
Additionals:
R506.46 (VAT Incl.)
Level:
Auditing Professionals
Sub-level:
Auditing
Lecturer:
Lynette Badenhorst
Duration:
120 Minutes
Additionals:
CPD Assessment
Certificate
Certificate
Lesson Outline
The preparation of financial statements is the responsibility of the client’s management. Hence, the financial statements contain management’s assertions about the transactions, events and account balances and related disclosures that are required by the applicable accounting standards.
The auditor is required to determine the different types of misstatements that could occur for each of the relevant audit assertions and then develop audit procedures that are appropriate to respond to the assessed risks.
The following will be discussed during the session
- The 5 assertions for transactions
- The 5 assertions for balance sheet items
- Direction of testing for each assertion
- Risk assessment at assertion level
- Using the risk factors
- Relevant assertions
- Risk spectrum
- Significant risks
- Examples of audit procedures to perform for each assertion
- Selection of sample sizes for each assertion