Audit Quality: Monitoring Results and Preparing for Audit Review

Audit Quality: Monitoring Results and Preparing for Audit Review

Objectives

The objective of this presentation is to summarise the common deficiencies identified by the supervisory authority in Cyprus  (ICPAC) during Audit Monitoring visits focused on firm compliance with ISA requirements.

Seminar Content

Common deficiencies in audit planning ; reference made here includes following key tasks:

  • Basis and determination of materiality levels
  • Determining and documenting audit risk and response schedules ; highlighting significant audit risks
  • Understanding the entity and its environment
  • Understanding entity controls
  • Preliminary analytical procedures and link to risk assessment process

 

 

Common deficiencies in key audit evidence areas; reference made here includes the following key audit areas:

  • Investments; focusing on testing over the existence and recoverability of your investments
  • Receivables ; focusing on validity and recoverability of your receivable balances
  • Payables; focusing on completeness of your year end liabilities

 

 

Common deficiencies in audit completion; reference made here includes the following key completion tasks:

  • Going concern assessment
  • Subsequent event procedures
  • Journal entry testing
  • Final analytical procedures

Who should attend

The seminar is addressed to all members of ICPAC and as well as other interested parties.

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DATE: 13 July

DURATION: 5 Hours

LOCATION: EIMF Premises, Nicosia

TIME: 09:00 – 14:30

FEES: €180 + VAT

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If you need help completing the online registration form, please give us a call at 2227 4470 or email us at [email protected] 

In-House Training

If you need help completing the online registration form, please give us a call at 2227 4470 or email us at [email protected] 

Instructor: Bobbi Koufari (BSc, ACA, ACAMS)

Bobbi is a qualified Chartered Accountant (ACA), member of the Institute of ICAEW and ICPAC. She also holds a BSc in Management Sciences from the University of Manchester Institute of Science and Technology (UMIST). Bobbi was employed in the Audit Department of a Big Four firm in Cyprus for 10 years, and during this period she obtained extensive experience on auditing clients from different backgrounds and business sectors. Her portfolio of clients included firms operating in the Shipping Industry, Holding and International Investment Entities. Bobbi participated as an instructor for various internal training programs focusing on the audit methodology. Since 2015, she has been delivering ACA and ACCA modules on Accounting, Assurance and Audit & Assurance for the School of Professional Studies of Cyprus College. She continues her work as a lecturer and in addition she is engaged in professional consultation to audit firms on audit related matters, focusing on compliance with ISA requirements and improvement of audit quality. Further to obtaining her CAMS certification in 2016 she has become a member of ACAMS and has specialized on Compliance and Money‐laundering related matters offering Compliance consultation to audit firms and service providers focused on compliance with local Money Laundering Regulations.

Starts 20 February 2024

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