The Audit Process

(50 customer reviews)
by

To bridge the expectation gap in audit, this course looks at the roles of audit and the auditor, and explores, in detail, the audit process and the regulatory standards that govern auditing.

£150 +VAT

4 CPD hours

365 days’ access

Use ACPD101 for 10% off any purchase.

The Audit Process

(50 customer reviews)

£150 +VAT

4 CPD Course

365 days’ access

Use ACPD101 for 10% off any purchase.

The Audit Process

(50 customer reviews)

This course is not currently available. To find out more, please get in touch.

This course will enable you to

  • Gain a detailed overview of the auditing landscape, and examine the role of the auditor
  • Explore some of the ethical requirements for auditors, potential threats to their independence, and how to manage them
  • Understand audit engagement procedures and audit planning
  • Examine the procedures for gathering audit evidence
  • Gain an overview of the finalisation and completion stage of the audit

About the course

News stories about corporate collapses and scandals over the last few years have led many to question the function of the audit process. With a rising expectation gap, it’s important to clarify the role of the auditor.

Steve Collings provides a calm, rational voice, arguing that by following the audit process – from planning the audit, to gathering evidence, to finalising the audit – we can raise the quality of work and avoid the mistakes that bring the profession into disrepute.

This course guides you through each of these stages of audit to give you insight into the practicalities of audit, and how the auditor gains evidence to form an opinion and provides a detailed overview of the International Standards on Auditing (ISA).

Contents

Introducing audit

What is auditing?
The auditor’s job
The expectation gap
The importance of audit
Advantages and disadvantages
ISA ISA baby
Ethical requirements
Threats to auditor independence
Corporate governance issues

Planning the audit

Preparation
Accepting a new engagement
The outgoing auditors
A letter of engagement
Misstatements
Materiality
Identifying risk
Understanding the entity
Internal control systems
Audit risk

Gathering audit evidence

The gathering
Obtaining audit evidence
Intangible assets
Auditing intangible assets
Related parties
Track and trace
Auditing related parties
Financial instruments
Revenue
Auditing tax

Finalising the audit

Tying it all up
Going concern
Going concern assessments
Auditing going concern
Reporting on going concern
Going back for more audit
Auditing subsequent events
Forming an audit opinion
The emphasis of matter paragraph

Author

Steve Collings

Steve Collings

Steve is Director at Leavitt Walmsley Associates, a firm of Certified Chartered Accountants. He is an internationally recognised speaker, writer and commentator on all matters to do with financial reporting and auditing. Steve is a prolific author, having written over 25 books and currently represents the North West of England on ACCA”s Practice Network Panel.

50 reviews for The Audit Process

  1. Deoraj Ramkissoonsingh –

    Excellent course for Audit training of staff

  2. Blessing Nengomadza –

    Good guidance on audit best practise

  3. George Jamerah –

    The course was long but thorough.

  4. Andrew Kirshen –

    Covered the subject very thoroughly and was easy to follow.

  5. Stephen Chi Chong Loi –

    Achieved my expectation and being useful in practice

  6. Carlos Chileshe Chileshe –

    It has been a well-presented article which addresses the key elements of audit opinions.

  7. Alena Tsimoshchanka –

    Very well presented material. Thank you!

  8. Ross Croker –

    I thought this course provided a very good coverage of key matters in the audit process

  9. Nana Agyemang –

    The course offered detailed explanations for significant course outcomes. Also, it provided numerous possible audit procedures that the auditor could implement during an audit

  10. Vishnu Maharaj –

    The course covered the important elements of auditing and can be used as a guide by auditors . Well researched and well written .

  11. Habib Railey –

    Very informative and covers vast areas of auditing.

  12. Peter Uu –

    I have found it useful and help me to update my auditing knowledge tremendously.

  13. James Mooney –

    Very comprehensive.

  14. Helen Bristow –

  15. Mary Murrain –

    The information provided clarity on how to proceed for going concerns and other accounting issues and treatment of them. The session was not verbose and there were lots of take aways of practical matter to be applied in work.

  16. Juliet Mercer –

    There was too much reading material on this course, especially given the subject of auditing. The videos made the course more enjoyable and easier to remember the content but there wasn’t enough of them.

  17. Setshego Ramogopodi –

    Good for an accountant who have just ventured into auditing, gives a clear idea of the audit process.

  18. Rishi Sharma –

    A relevant course.

  19. George Dinu –

    5

  20. Sunil Bandara –

    Very good and refresh my knowledge

  21. Phibion Gwatidzo –

    Relevant and well presented

  22. N Dolan –

    😉

  23. Maipelo Gotswakgosi –

    Because i learned so much in this course

  24. Karen Brundle –

  25. Stephen Odeleye –

  26. Sanaa Choudhry –

  27. Andrew O Donnell –

    Good to review the principles. And to learn a little extra was pleasing.

  28. Jennifer Mallender –

    i havent been oinvolved in an audit for a number of years and was a useful refresher

  29. Tlang Thomelo –

    Because iam every year preparing documentation to be audited (audit file), involved in the audit process, attend to audit queries and providing information where possible

  30. Lyall Davies –

    IT did meet my objectives

  31. Suzie Amundsen –

  32. David Quartey –

    I am shifting into auditing and assurance and would need to refresh my knowledge

  33. Thomas Doherty –

  34. Tim Holian –

  35. Shalva Latsabidze –

    I did not passed the audit ACCA papers and I have no proper understanding of audit process. In previous year I have relationship with auditors from Russellbedford AAS and understand that I have to study more about the audit process, to be successful in this direction (they using the terms unfamiliar for me, “assertions”, “management presentation” “written confirmation” and I could not respond to it) they offered perspective of further cooperation and I feel that this course gave me that understanding of audit process I clearly need.

  36. Karl Vella Fiorentino –

  37. Christine Christopher –

    Content was consistent with objectives and areas needing refresher knowledge

  38. Mingye Liu –

  39. Abdul Qaiyum Asuri –

  40. Kei Fukuhara –

  41. Dominique Lampstaes –

    was asked to work on an audit, so I needed to refresh my knowledge

  42. Anthony Ali –

    My objectives in enrolling on this course was to enhanced my practical experience of auditing and to refresh what I put into my work as an auditor.

  43. Sharon White –

  44. Patrick Fitzpatrick –

    Covered all aspects for audits

  45. Lorato Ratsheko –

    I did what auditors expected to do

  46. Natasha ODriscoll –

  47. Robert Fitzgerald –

    n/a

  48. Nicola Kerr –

    Explain more than I knew

  49. Denis Williams –

    Ensured that I am up to date with ethical and practical aspects of the audit process.

  50. Ivan Ssembuya –

    It is relevant to my current role and was helpful in keeping updated with current trends

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