Identifier: 68119457

Duration:

Subscription Period: 365 Days

Language: English

Cost: NZD 410.84

 

Action

Add To Cart

Overview

This course covers financial statement audits of historical information for entities such as companies limited by guarantee, incorporated associations, aged care facilities, groups and small organisations.

These audits often face different risks due to the size of the finance team and perceived lack of controls. Consequently there is specific focus on how the audit methodology should be scaled and adapted to ensure the auditor meets their obligations as well as the requirements of the auditing standards, in this specific scenario of a smaller entity.

With a strong practical focus, this manual compliments the Small Entities Audit Manual (SEAM). This course can assist audit and assurance practitioners in the performance of the audit of small entities.

Key topics:

  • An overview of an audit
  • An introduction to the methodology
  • The phases of the audit:
    • Acceptance and continuance
    • Planning
    • Performance and review
    • Evaluation, report and wrap up
  • Case studies focussing on smaller entity issues to consolidate the learning topics

This course consists of one hard copy learning manual and one online assessment.

Want to know more? Click below to view a sample of the learning manual:

Objectives

  • Outline the auditor’s role and the key ethical and independence-related considerations in conducting an audit of a small entity
  • Describe the importance of auditor judgement and the application of skepticism to an audit of a smaller entity
  • Describe the requirements for a system of quality control to be kept by an auditor
  • Outline the importance of the engagement letter and the management representation letter to the audit
  • Explain and apply the key requirements of the Auditing Standards applicable to each phase of the audit for smaller entities
  • Explain the importance and requirements of audit documentation

Audience

This learning manual is designed for public practitioners and auditors working in SMEs who audit small businesses and not for profit entities (e.g. sports clubs, associations, companies limited by guarantee, aged care facilities, groups and small organisations)

This learning manual fulfils the compulsory component within the CPA Australia competency requirements for SMSF Auditors, which consists of 30 hours CPD every three years.

This training must include:

  • eight hours of superannuation CPD
  • eight hours of compliance or financial statement audit CPD
  • four hours of financial accounting CPD

loading...