Audit
Basic Audit Planning
Laws, Fraud, Risk Assessment, Documentation, and Quality Control for Auditors
5 CPD credits on completion
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Certificate on completion
Downloadable resources
Self-paced learning
About This Course
Course Information
Planning an audit includes establishing the overall audit strategy for the engagement and developing an audit plan, which includes, in particular, planned risk assessment procedures and planned responses to the risks of material misstatement.
Certificate on Completion
This course is made up of videos, questions and additional reading materials, and accounts for 5 units of CPD. One unit is the equivalent of one hour of learning.
Course Sections
This course is made up of the following sections:
- Laws and regulations (video)
- Fraud (video)
- Laws, regulations and fraud (quiz)
- Planning process (video)
- Audit documentation (video)
- Planning process and audit documentation (quiz)
- Quality control (video)
- Quality control (quiz)
What You Will Learn
- Describe the role of the International Auditing and Assurance Standards Board and how ISAs are developed, adopted, and enforced across jurisdictions
- Identify the auditor's responsibilities under ISA 240, including the distinction between fraud and error, and the steps required when fraud is suspected
- Explain the audit risk model, distinguishing between inherent risk, control risk, and detection risk, and how each is assessed during planning
- Calculate materiality and performance materiality using standard benchmarks such as percentages of profit, revenue, or total assets
- Evaluate the purpose and contents of the current audit file, permanent audit file, and working papers required by ISA 230
- Apply the quality control framework from ISA 220, including hot and cold reviews, ethical requirements, and the engagement partner's responsibilities
Who This Course Is For
- Trainee auditors or accounting students preparing for audit-related exams who need a grounding in the planning phase
- Qualified accountants moving into external audit roles who want to understand ISA requirements for planning, documentation, and quality control
- Internal auditors or finance professionals who interact with external audit teams and want to understand their planning process
Prerequisites
- No prior audit experience is required. The course is designed as an introduction to audit planning concepts.
- A basic understanding of financial statements (balance sheet, income statement) will help you follow the examples and analytical procedures discussed.
Frequently Asked Questions
Course Details
CPD Credits5
CertificateYes
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CPD certificate on completion
Downloadable resources
Self-paced learning
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