Audit
Importance of Audit Evidence
Audit Assertions, Evidence Reliability, and Practical Gathering Methods
3 CPD credits on completion
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Certificate on completion
Downloadable resources
Self-paced learning
About This Course
Course Information
Audit evidence is the information that an auditor gathers to reach their audit opinion about an organisation’s financial statements and/or internal control environment.
Certificate on Completion
This course is made up of videos, questions and additional reading materials, and accounts for 3 units of CPD. One unit is the equivalent of one hour of learning.
Course Sections
This course is made up of the following sections:
- Audit evidence (video)
- Audit evidence (quiz)
- Working examples (video)
- Working examples (quiz)
What You Will Learn
- Identify the eight financial statement assertions and explain how each applies to different account balances and transaction classes
- Distinguish between sufficient and appropriate audit evidence, including the role of auditor judgement in determining sufficiency
- Evaluate the reliability of audit evidence based on its source, ranging from auditor-generated evidence to verbal representations from management
- Apply audit procedures to real scenarios involving useful economic life estimates, brand impairment, and warranty provisions
- Describe the six methods of obtaining audit evidence: inspection, observation, enquiry, confirmation, computation, and analytical procedure
- Assess audit risks in areas that involve management judgement, such as non-current asset valuations and provision calculations
- Explain how IAS 36, IAS 37, and IFRS 5 affect the evidence-gathering process for impairment, provisions, and discontinued operations
Who This Course Is For
- Auditors and audit trainees who need to strengthen their understanding of evidence-gathering procedures and financial statement assertions
- Accountants preparing for ACCA Advanced Audit and Assurance (AAA/P7) or similar professional exams
- Internal auditors who assess evidence sufficiency and reliability as part of their day-to-day work
- Finance professionals involved in preparing financial statements who want to understand what auditors look for
Prerequisites
- A basic understanding of financial statements, including the balance sheet and income statement
- Familiarity with general audit concepts such as materiality and audit risk, though the course covers these in context
Frequently Asked Questions
Course Details
CPD Credits3
CertificateYes
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CPD certificate on completion
Downloadable resources
Self-paced learning
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