Internal Control & Auditing Workshops
KNOWLEDGE REQUIRED & TARGET LEARNERS
Learners should already (a) understand some of the basics of Commercial Law and Internal Control & Auditing practices and (b) have completed Financial Accounting 1. These workshops are targeted at SAIPA Trainees who have a minimum of one year’s experience in an accounting practice.
DELIVERY & CONTENT
Internal Control & Auditing consists of two separate workshops. Workshop 1 is two days and Workshop 2 is one day.
Workshop 1 (2 days) - Internal Control & Auditing 1
General Areas
1. Pre-engagement procedures.
2. Planning memorandum.
3. Authority & signing powers.
4. Internal control procedures.
5. Special assignments.
6. Risks & materiality.
7. Compliance procedures.
8. Reliance on the work of internal auditors.
9. Role of the audit committee (optional elective).
Internal Control
10. Control objectives (general, specific, computer).
11. Methods to determine strengths & weaknesses.
12. Evaluating systems & weaknesses.
13. Reliance on specialists & other professionals.
Workshop 2 (1 day) - Internal Control & Auditing 2
General Areas
1. Permanent file.
2. Working paper file.
Transaction Testing & Verification
3. Vouching tests.
4. System based tests.
5. Compliance procedures.
6. Verification (for completeness, existence, accuracy, valuation, ownership, presentation).
7. Analytical review.
8. Solvency & liquidity tests.
9. Post balance sheet events.
10. Statutory checks.
11. Overall review of financial statements.
Reporting
12. Final report – qualifying or non-qualifying report.
13. Management representation letter (optional elective).
14. Management letter (optional elective).
IMORTANT: All learners will be expected to read and complete all the assigned pre-course material before attending any workshop as these will also form part of a learner’s Portfolio of Evidence.
REMINDER: Delegates may apply their new learning to an optional post-course application project and submit this for assessment. This project must include:
Learners should already (a) understand some of the basics of Commercial Law and Internal Control & Auditing practices and (b) have completed Financial Accounting 1. These workshops are targeted at SAIPA Trainees who have a minimum of one year’s experience in an accounting practice.
DELIVERY & CONTENT
Internal Control & Auditing consists of two separate workshops. Workshop 1 is two days and Workshop 2 is one day.
Workshop 1 (2 days) - Internal Control & Auditing 1
- Debriefing & feedback on the pre-course reading and assignment.
- This workshop is structured around a business simulation and related practical case studies in internal control principles, procedures and techniques.
- Groups work through case studies, simulations and exercises covering selected logbook areas and present their findings.
General Areas
1. Pre-engagement procedures.
2. Planning memorandum.
3. Authority & signing powers.
4. Internal control procedures.
5. Special assignments.
6. Risks & materiality.
7. Compliance procedures.
8. Reliance on the work of internal auditors.
9. Role of the audit committee (optional elective).
Internal Control
10. Control objectives (general, specific, computer).
11. Methods to determine strengths & weaknesses.
12. Evaluating systems & weaknesses.
13. Reliance on specialists & other professionals.
Workshop 2 (1 day) - Internal Control & Auditing 2
- Debriefing & feedback on the pre-course reading and assignment.
- Workshop content includes auditing principles, planning, testing, verification and reporting.
- Groups work through case studies, simulations and exercises covering selected logbook areas and present their findings.
General Areas
1. Permanent file.
2. Working paper file.
Transaction Testing & Verification
3. Vouching tests.
4. System based tests.
5. Compliance procedures.
6. Verification (for completeness, existence, accuracy, valuation, ownership, presentation).
7. Analytical review.
8. Solvency & liquidity tests.
9. Post balance sheet events.
10. Statutory checks.
11. Overall review of financial statements.
Reporting
12. Final report – qualifying or non-qualifying report.
13. Management representation letter (optional elective).
14. Management letter (optional elective).
IMORTANT: All learners will be expected to read and complete all the assigned pre-course material before attending any workshop as these will also form part of a learner’s Portfolio of Evidence.
REMINDER: Delegates may apply their new learning to an optional post-course application project and submit this for assessment. This project must include:
- 12 core (compulsory) logbook components from Workshop 1,
- 12 core (compulsory) logbook components from Workshop 2, and
- Two elective logbook components of your choosing from either of the two workshops.
