International standards on auditing(ISA)

Description

This course is suitable for all international students who wish to pursue a career in auditing. The course covers all vital standards on auditing. This is a self explanatory course and all important aspects of the standards are taught at grass root level. Students are requested to study all the standards in order to get an expert level knowledge on the subject.

The benefit of an audit is that it provides assurance that management has presented a ‘true and fair’ view of a company’s financial performance and position. An audit underpins the trust and obligation of stewardship between those who manage a company and those who own it or otherwise have a need for a ‘true and fair’ view, the stakeholders

International Standards on Auditing (ISA) refer to professional standards dealing with the responsibilities of the independent auditor while conducting the financial audit of financial info. These standards are issued by International Federation of Accountants (IFAC) through the International Auditing and Assurance Standards Board (IAASB). The ISAs include requirements and objectives along with application and other explanatory material. The auditor is obligatory to have knowledge about the whole text of an ISA, counting its application and other explanatory material, to be aware of the objectives and to apply the requirements aptly.

The standards cover various areas of auditing, including respective responsibilities, audit planning, Internal Control, audit evidence, using the work of other experts, audit conclusions and audit reports, and standards for specialized areas.

The ISA objectives are two-fold:

• Analyzing the comparability of national accounting as well as auditing standards with international standards, determine the degree with which applicable auditing and accounting standards are complied, and analyze strengths and weaknesses of the institutional framework in sustaining high-quality financial reporting.

• Assist the country in developing and implementing a country action plan for improvement of institutional capacity with a view of strengthening the corporate financial reporting system of the country.

1.Basics

2.objectives of independent audit

3.terms of engagement

4.Quality control

5.Working papers

6.Fraud

7.Audit evidence

8.External confirmation

9.Intial audit engagement

10.Analytical procedures

11.Audit sampling

12.Related parties

13.Subsequent events

14.going concern

15.Written representation

16.Forming opinion

17.KAM

18.Modification of opinion

19.EOM mater para

20.Identifying and assessing ROMM

21.Internal auditor

22.Another auditor

Please read the contents of the course before purchasing

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