CPD

2 Unit Course

ISA 550 – Related Parties – Refresher

 

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OVERVIEW

Course Information

Illustration of certificate track Certificate on Completion

Related party relationships often create complex challenges for auditors. This refresher course on ISA 550 is designed to help you strengthen your understanding of how to identify, assess, and report related party transactions accurately.

Through a mix of reading and video modules, you’ll revisit key definitions, learn how to recognize undisclosed relationships, and review practical procedures for evaluating transactions that may pose audit risks. The course also explores real-world cases and best practices for documentation and communication with management and those charged with governance. Whether you’re returning to audit work after a break or aiming to update your knowledge, this course ensures you stay aligned with ISA 550 requirements and maintain professional scepticism throughout the audit process.

By the end, you’ll be able to apply the standard more confidently and improve the quality of your audit judgments and reporting.

This course is made up of videos, questions and additional reading materials, and accounts for 2 units of CPD. One unit is the equivalent of one hour of learning.

This is a 2 unit CPD course that is made up of following contents:

  • Introduction to ISA 550 and Its Purpose (video)
  • Understanding Related Parties and Relationships (interactive content)
  • Auditor’s Responsibilities and Risk Assessment (video)
  • Identifying and Evaluating Related Party Transactions (interactive content)
  • Audit Evidence and Procedures (video)
  • Disclosure Requirements and Reporting (interactive content)
  • Common Pitfalls and Case Studies (video)
  • Communication and Documentation Best Practices (video)
  • Integration with Other ISAs (interactive content)
  • Quizzes
  • Additional readingsWorking examples (quiz)

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