Auditing Principles and Practices

I. Introduction:

Auditing is a rigorous examination of an organization’s financial records and statements to ensure accuracy, fairness, and compliance with applicable laws and regulations. This course provides a comprehensive understanding of the auditing process, from planning and execution to reporting.

Additionally, the course emphasizes the importance of professional skepticism, ethical conduct, and quality control in the auditing profession. Participants will learn to apply critical thinking and judgment to complex audit situations, ensuring the reliability and credibility of audit findings.

II.Course Objectives:

• Grasp the fundamentals of auditing and its role in the business environment

• Master auditing standards, ethical principles, and professional responsibilities

• Develop proficiency in audit planning, risk assessment, and evidence gathering

• Acquire skills in conducting various audit procedures and evaluating results

• Learn to identify and respond to fraud risks

• Effectively communicate audit findings through clear and concise reports

III. Course Highlights:

Module 1: Auditing Fundamentals and Standards

• Definition, objectives, and types of audits

• Auditing standards, ethical requirements, and professional responsibilities

Module 2: Audit Planning and Risk Assessment

• Audit process overview

• Materiality and audit evidence concepts

• Identifying and assessing audit risks

• Developing audit programs and working papers

Module 3: Audit Procedures and Techniques

• Substantive testing and analytical procedures

• Audit sampling and evidence evaluation

• Auditing specific accounts (cash, inventory, receivables, etc.)

• IT audit considerations

Module 4: Special Audit Topics

• Related party transactions and group audits

• Fraud prevention, detection, and investigation

• Current auditing issues and emerging trends

Module 5: Audit Reporting and Communication

• Audit report structure and content

• Audit opinions and modifications

• Communicating audit findings to stakeholders

IV. Target Audience:

• Accounting and finance professionals aspiring to become auditors

• Internal auditors seeking to enhance their skills

• Students pursuing accounting or finance degrees

• Professionals working in industries with financial reporting requirements