Auditing Practical Training (5 Days)

Service Description

A five-day comprehensive training plan for auditing that covers internal, external, digital, and technology-driven auditing, while also incorporating international auditing standards and required accounting principles. Each day focuses on a specific aspect of auditing:

Day 1: Introduction to Auditing and Auditing Standards

1. Welcome and Course Overview

2. Understanding the Role and Importance of Auditing

3. Overview of Various Types of Auditing (Internal, External, Digital)

4. Introduction to International Auditing Standards (e.g., ISA)

5. The Audit Process and Its Phases (Planning, Execution, Reporting)

6. Audit Objectives and Key Concepts

7. Ethical Considerations in Auditing 8. Practical Exercises and Case Studies

Day 2: Internal Auditing

1. Internal Audit vs. External Audit: Key Differences

2. The Role of Internal Auditors within Organisations

 3. Internal Control Systems and Risk Assessment

4. Audit Planning and Documentation for Internal Audits

5. Performing Internal Audits: Fieldwork and Data Collection 6. Reporting and Communicating Internal Audit Findings

7. Continuous Monitoring and Improvement

8. Practical Exercises and Group Discussions

Day 3: External Auditing

1. External Audit Engagement: Client Acceptance and Continuance

2. Audit Risk Assessment and Materiality

3. Audit Sampling Techniques

4. Evaluating Internal Controls and Control Testing

5. Substantive Audit Procedures and Evidence Gathering

6. Audit Documentation and Workpaper Standards

7. Detecting Fraud in External Audits

8. Practical Exercises and Mock External Audit Scenarios

Day 4: Digital Auditing and Technology

1. Introduction to Digital Auditing and Its Relevance

2. The Impact of Technology on Auditing

3. Data Analytics in Auditing

4. Cybersecurity Considerations in Auditing

5. Using Audit Software and Tools

6. Automation and AI in Auditing

7. Blockchain and Its Role in Audit Trails

8. Practical Hands-on Exercises with Audit Technology

Day 5: International Standards and Accounting Principles

1. International Financial Reporting Standards (IFRS) vs. Generally Accepted Accounting Principles (GAAP)

2. The Convergence of IFRS and GAAP

3. Importance of Consistency in Auditing Standards Worldwide

4. Case Studies: Applying International Standards in Auditing

5. Regulatory Compliance and Reporting

6. Group Discussions and Course Conclusion.

Throughout the training, participants will have access to materials, case studies, and interactive exercises.