Foundations In Audit (FAU)

Foundations in Audit Course Outline

Module 1: Purpose and scope of audit and regulatory framework

• The purpose and scope of an audit
• Auditor responsibilities
• Professional ethics and ACCA’s Code of Ethics and Conduct
• Auditor engagement and liability
• Audit regulation
• Internal audit

Module 2: Audit planning and risk assessment

• Audit risk
• Understanding the entity and its environment and the applicable financial reporting framework
• Audit strategy and the audit plan
• Audit documentation

Module 3 Internal control

• General principles of internal control
• Techniques to understand, record and evaluate accounting systems
• Tests of controls
• Communicating control deficiencies

Module 4: Audit evidence and procedures

• Audit evidence
• Audit procedures and assertions
• Substantive procedures
• Audit sampling
• Automated tools and techniques

Module 5: Audit completion

• Going concern
• Subsequent events
• Written representations
• Independent Auditor’s Report

Module 6: Employability and technology skills

• Use computer technology to efficiently access and manipulate relevant information
• Work on relevant response options, using available functions and technology as would be required in the workplace
• Navigate windows and computer screens to create and amend responses to exam requirements, using the appropriate tools
• Present data and information effectively, using the appropriate tools

Who Should Attend this Foundations in Audit Course?

This course is ideal for individuals looking to develop a foundational understanding of auditing. It suits those seeking to enhance their skills in financial statement analysis, risk management, and regulatory compliance. This course can be beneficial for a wide range of professionals, including:

• Accountants
• Internal Auditors
• Compliance Officers
• Finance Executives
• Risk Analysts
• Business Managers
• Tax Consultants
• Bookkeepers

Prerequisites of the Foundations in Audit Course

There are no formal prerequisites for this Foundations in Audit Course. However, a basic understanding of mathematics, auditing concepts, and proficiency in English will be beneficial for understanding auditing principles, compliance requirements, and financial assessments.

Foundations in Audit Course Overview

Auditing plays a crucial role in financial accountability, ensuring accuracy, compliance, and transparency in financial reporting. This course introduces fundamental auditing principles, providing individuals with the knowledge and skills to understand audit processes, internal controls, and regulatory frameworks.

Proficiency in auditing is essential for those involved in financial reporting, risk assessment, and compliance management. It benefits individuals responsible for ensuring financial accuracy, detecting irregularities, and maintaining corporate governance standards within organisations.

This 1-day training covers key auditing concepts, including audit planning, risk evaluation, internal controls, and reporting techniques. Delegates will gain practical insights into auditing processes, improving their ability to assess financial statements and ensure compliance with regulatory standards.

Course Objectives

• To understand fundamental auditing principles, procedures, and regulations
• To learn about internal controls and risk assessment techniques
• To develop knowledge of audit planning and execution
• To analyse financial statements for accuracy and compliance
• To enhance understanding of ethical considerations in auditing

To explore auditing standards and regulatory frameworks

Upon completing this course, delegates will receive a certification validating their knowledge of auditing principles. This certification enhances career prospects and demonstrates their ability to apply auditing techniques in financial and business environments.

What’s included in this Foundations in Audit Course?

• World-Class Training Sessions from Experienced Instructors
• Foundations in Audit Certificate
• Digital Delegate Pack