Price:
R292.10 (VAT Incl.)
Level:
Auditing Professionals
Sub-level:
Auditing
Lecturer:
Tristan David-Crewe White
Duration:
180 Minutes
Additionals:
R292.10 (VAT Incl.)
Level:
Auditing Professionals
Sub-level:
Auditing
Lecturer:
Tristan David-Crewe White
Duration:
180 Minutes
Additionals:
CPD Assessment
Certificate
Certificate
Lesson Outline
This session deals with topics in the finalisation phase of the audit engagement, namely the standards containing procedures to be carried out to complete the audit, as well as, secondary reporting responsibilities (primary would be the final audit report containing the auditor's opinion) during finalisation.
Session 9 will focus on:
o ISA 450: Evaluation of misstatements identified during the audit
o ISA 560: Subsequent events
o ISA 570: Going concern
o ISA 580: Written representations
o ISA 260: Communication with those charged with governance
o ISA 265: Communicating deficiencies in internal control to those charged with governance
Concepts that will form part of the session, which form the foundation of finalisation are:
• Consideration of both identified and unidentified misstatements
• The effect of misstatements on the audit plan
• Individual and aggregate misstatement
• Management representations about misstatements and subsequent events
• Adjusting and non-adjusting events
• Management’s assessment of going concern.
• Responding to going concern events and conditions
• The effect of going concern on the audit report
• Written representation that must be obtained
• Steps if management refuses to provide representations
• What, how and to whom information must be communicated
• Identifying significant and important deficiencies
• Communicating control deficiencies and going concern issues
Fundamentally the session will focus on finalisation and the considerations thereto, with the view to:
• Simplifying the relevant standards,
• Highlighting key elements and
• Providing action points
Session 9 will focus on:
o ISA 450: Evaluation of misstatements identified during the audit
o ISA 560: Subsequent events
o ISA 570: Going concern
o ISA 580: Written representations
o ISA 260: Communication with those charged with governance
o ISA 265: Communicating deficiencies in internal control to those charged with governance
Concepts that will form part of the session, which form the foundation of finalisation are:
• Consideration of both identified and unidentified misstatements
• The effect of misstatements on the audit plan
• Individual and aggregate misstatement
• Management representations about misstatements and subsequent events
• Adjusting and non-adjusting events
• Management’s assessment of going concern.
• Responding to going concern events and conditions
• The effect of going concern on the audit report
• Written representation that must be obtained
• Steps if management refuses to provide representations
• What, how and to whom information must be communicated
• Identifying significant and important deficiencies
• Communicating control deficiencies and going concern issues
Fundamentally the session will focus on finalisation and the considerations thereto, with the view to:
• Simplifying the relevant standards,
• Highlighting key elements and
• Providing action points