Audit And Assurance Course - in Abu Dhabi

Audit and Assurance Course Outline

Guided learning hours (GLH): 60

Module 1: Demonstrate an Understanding of The Audit and Assurance Framework

• The Concepts and Principles
  • Meaning of the Term 'Audit'
  • Meaning of the Term 'Assurance’
  • General Principles of Audit and Assurance
  • Audit Expectation Gap
  • Difference Between Reasonable and Limited Assurance
  • Difference Between Positive and Negative Expression of Assurance
  • Benefits Gained from Assurance
  • Importance of Professional Scepticism And Professional Judgement
• Apply a Questioning Attitude to All Audit Activities
• The Regulatory Environment
  • The Role of Corporate Governance in the Audit and Assurance Process
  • The Principles of Good Governance
  • Comply or Explain Principle
  • Respective Responsibilities of Management, Internal Auditors and External Auditors in Relation to the Financial Statements
  • Importance of an Effective Audit Committee
• The Role of Internal Audit
  • Difference Between Internal and External Audit
  • Requirement for Internal Audit
  • Roles of Internal Audit
  • Different Types of Internal Audit Work
  • Risks Associated with a Lack of Independence

Module 2: Demonstrate the Importance of Professional Ethics

• Principles and Characteristics of Ethical Codes and the Implications for the Auditor
  • Importance of a Code of Ethics for the Profession
  • Consequences of Failing to Comply with the AAT Code of Professional Ethics
  • Auditor's Liability to the Company and Shareholders
  • Requirement for Professional Indemnity Insurance
  • Supervisory Requirements for Accounting Technicians
  • Apply the AAT Code of Professional Ethics to Audit Activities
• Threats to the Independence of Auditors
  • How Audit and Assurance Work May Compromise the Fundamental Principles
  • Significance of Independence And Its Relationship With Objectivity
  • Threats
  • Evaluate Circumstances That May Threaten the Application
• Safeguards to Eliminate or Reduce Threats to the Independence of Auditors
  • Evaluate firm-Wide Safeguards
  • Evaluate Audit Safeguards
• Fundamental Ethical Principles in Relation to Internal and External Audit

Module 3: Evaluate the Planning Process For Audit And Assurance

• The Concept of Risk
  • Components of the Audit Risk Model
  • Relationship Between the Components
  • How Factors Such as The Entity’s Operating Environment and its System
  • Risk Assessment Process
  • How Analytical Procedures Can Be Used to Identify Potential Understatement
  • Identify Audit Risks
• Identify Analytical Procedures That Could Expose Understatement
  • The Concept of Materiality
  • Difference Between ‘Performance Materiality’ And Materiality for the Financial Statements as a ‘Whole’
  • Role of Materiality in Planning an Audit and Evaluating Misstatements
  • Methods Used to Calculate Materiality Thresholds
  • Difference Between ’Material’ and ’Material and Pervasive’
  • Calculate Materiality Levels
• Audit Procedures
  • Develop Procedures to Obtain Sufficient Appropriate Evidence
• The Role of Audit Working Papers

Module 4: Evaluate Procedures for Obtaining Sufficient and Appropriate Evidence

• Methods Used to Obtain Audit Evidence
  • Types of Verification Techniques
  • Characteristics of Good Evidence
  • Reliability and Relevance of Different Sources of Audit Evidence
  • Differences Between Tests of Controls and Substantive Procedures
  • Identify When it is Appropriate to Use Each Type of Verification Technique
  • Evaluate Methods Used to Test
• Audit Techniques in An it Environment
  • Types of Automated Tools And Techniques
  • How Automated Tools and Techniques?
  • Benefits and Drawbacks of Using Automated Tools and Techniques
• Different Sampling Techniques
  • Statistical and Non-Statistical Sampling Methods
  • Advantages and Disadvantages of Different Sampling Methods
  • Distinguish Between Statistical and Non-Statistical Sampling
  • Determine When It Is More Appropriate to Examine 100% or a Selection Of Items
  • Distinguish Between Selection Methods and When They Should be Used
  • Identify Factors Affecting Sample Sizes
  • Identify Appropriate Populations from Which to Select Samples
• Audit Approach
• Audit Assertions

Module 5: Review and Report Findings

• Matters to be Referred to Senior Colleagues
  • Assess Misstatements for Materiality
  • Identify Deviations from an Audited Entity's Prescribed Procedures
  • Identify Matters
• External Audit Opinion
  • Methods Used to Obtain Audit Evidence
  • Audit Techniques in an IT Environment
  • Different Sampling Techniques
  • Audit Approach
  • Audit Assertions
• Report Audit Findings to Management
  • Elements of a Report on Deficiencies in Internal Control
  • How Deficiencies in Internal Control are Reported to Management
  • How Deficiencies in Internal Control are Reported to the Audit Committee
  • Identify the Consequences of Deficiencies
  • Report Findings to Management.

Who Should Attend This Audit and Assurance Course?

This course is designed for individuals seeking a recognised qualification in Audit and Assurance as part of the AAT Level 4 Diploma in Professional Accounting. It is particularly useful for those in roles such as: 

• Finance Assistants
• Business Analysts
• Finance Managers
• Risk and Compliance Officers
• Internal Control Administrators

Prerequisites of the Audit and Assurance Course

This course requires completion of the AAT Level 3 Diploma in Accounting or an equivalent qualification. Learners should have good English and Maths skills for interpreting standards.

Audit and Assurance Course Overview

The Audit and Assurance Course is designed to provide learners with essential knowledge of the auditing process, assurance services, and their role in financial reporting. In today’s regulatory-driven environment, a strong understanding of audit principles is vital for ensuring credibility, compliance, and stakeholder confidence.

This 60-hour training by The Knowledge Academy covers key topics such as the audit framework, internal controls, risk assessment, evidence gathering, reporting standards, and ethical considerations. Delegates will gain practical skills to perform audits effectively and deliver assurance services that add value to organisations.

Completing the Audit and Assurance Course equips learners with skills to assess financial statements and internal controls, ensuring accuracy and compliance. It supports career development in auditing, risk management, and progression to advanced accounting qualifications.

Audit and Assurance Course Objectives

By the end of this training, delegates will be able:

• To understand the key concepts, principles, and objectives of auditing
• To explore the role of assurance in enhancing financial accountability
• To develop knowledge of audit planning, risk assessment, and evidence collection
• To evaluate the effectiveness of internal controls and compliance procedures
• To apply international auditing standards and reporting frameworks

After completing this Audit and Assurance Course, delegates will gain a certificate demonstrating their auditing and assurance knowledge. This recognition will support career progression in accounting, auditing, and compliance roles.

What’s Included in This Audit and Assurance Course?

• World-Class Training Sessions from Experienced Instructors
• Course Completion Certificate
• Digital Delegate Pack