Risk Assessment in Financial Statement Audits July 2024
Available from
2 July, 2024
CPD
3
Course Category:
Financial Reporting
Level:
Moderate
To discuss risk assessment in the audit of financial statements. July 2024
Category: Financial Reporting.
R 375 VAT Incl.
Product Information
What you will learn
By attending this webinar you will gain the following competencies:Â
- Possess the knowledge to be able to differentiate between inherent, control, and detection risks.
- Gain a deep understanding of how to apply the audit risk model to ensure thorough risk assessments.
- Develop skills to effectively identify and assess significant risks prevailing in each audit engagement.
- Have the knowledge to design and implement effective audit procedures based on assessed risks.
- Fully understand and apply relevant auditing standards in all engagements, particularly ISA 315 and ISA 330.Â
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Description
Risk assessment in financial statement audits is pivotal for ensuring the accuracy and trustworthiness of reported financial data. In the process of understanding the audited entity and its operational landscape, auditors need to pinpoint significant accounts and disclosures while evaluating inherent and control risks associated with them.Â
Leveraging analytical procedures and substantive tests, auditors gather evidence to validate financial assertions and gauge the potential for material misstatement, including fraudulent activities. Documentation serves as a cornerstone throughout, facilitating audit planning, execution, and reporting.Â
Price
The following pricing apply:
Adhoc: R375.00
Content:
The webinar will cover the following topics: 
-
- Introduction to risk assessment in auditing.Â
- Understanding the audited entity.Â
- Identifying significant accounts and disclosures.Â
- Evaluation of inherent risks.Â
- Assessment of control risks.  Â
- Leveraging analytical procedures in audits.Â
- Substantive testing strategies.Â
- Detecting and addressing fraud risks.Â
- Integrating risk assessment into audit planning.
- A look at risk assessment standards:Â
- ISA 315.
- ISA 330Â
- Reporting audit findings.  Â
Certificate
The following CPD is awarded 3 Units Financial Reporting.
Requirements
There are no preconditions for this course.
Moderate level.
Recorded webinar made available on a specified date.
Presenter
Monja van Zyl CA(SA)Â
Monja van Zyl completed her CA(SA) articles in Durban and qualified as a chartered accountant in 2006. She then worked for both listed and unlisted companies in various industries where she mentored and led teams of different sizes.
Recognising the importance of balancing work and life, Monja started her own business called Aim Business Advisory Services in 2019. Her target market is the small-to-medium sized companies to whom she gives access to her vast skills and experience at a fraction of the cost on an outsourced retainer model.Â
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