Planning our audit engagement in accordance With ISA requirements‐ key considerations

Planning our Audit Engagement in Accordance With ISA Requirements

Objectives

The purpose of the seminar is to provide insights on the requirements of International Standards of Auditing, focusing on the most important stage of the audit –the planning stage.
Planning an audit engagement is frequently not given the necessary attention, as the auditor struggles to balance off the various tasks in
Hand and rushes to start the fieldwork and “get the job done”.
Monitoring reviews indicate that there is scope for improvement
In this crucial area of the audit, and further uncover that audits that
Need significant improvement generally display weaknesses in determining the audit strategy as well as a resulting failure in detecting material misstatements.

This seminar reminds participants the vital role the planning stage of an audit plays in the audit engagement as a whole and further explains the significance of planning as a key tool for a successful audit.

Seminar Content

Analytical review procedures during the planning stage
Determining the “appropriate” materiality levels
Going Concern assessment
Audit significance of Related Parties and Related Party Transactions
The importance of understanding the entity and its environment as part of the audit risk assessment process
Understanding the design and implementation of internal controls ‐ why is this is necessary even if you decide to follow a fully substantive approach
The risk based approach: effective application of your risk assessment
The risk of management override of controls and Revenue recognition

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Details

DATE: 2 May

DURATION: 5 Hours

LOCATION: EIMF Premises, Nicosia

TIME: 09:00 – 14:30

FEES: €180 + VAT

Additional Dates and Similar Seminars

Start Date	Course Title	Location	CPD Units	Status
15 Feb	Business Tax Fundamentals	Nicosia		COMPLETED
14 Mar	Client Identification and KYC Process as Part of an Effective Audit Plan	Nicosia	5	COMPLETED
6 July	Client Identification and KYC Process as Part of an Effective Audit Plan	Nicosia	5	UPCOMING
13 July	Audit Quality: Monitoring Results and Preparing for Audit Review	Nicosia		UPCOMING

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Who should attend

This course is mainly targeted to all those engaged in statutory audit work and in particular to ICPAC members.

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.

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