Financial auditing & control

Course details

This course is designed for internal auditors who want to understand and expand their roles related to financial reporting, as well for those who simply need a refresher course on financial accounting concepts. Beyond a basic accounting class, this course will enable participants to approach financial auditing with renewed confidence.

Taking on topics such as “Common recipes for cooking the books,” and covering information flow from business process to financial statement, this seminar will help participants understand how key business processes relate to financial statements.

Course Objectives:

By the end of this course, participants will be able to:

• Comprehensively understand the role of audit and control functions
• Facilitate interaction between staff in the audit and operations departments
• Avoid problems arising from procedure shortcuts
• Know about the modern and advanced techniques available in countering insurance fraud

Course Outline:

Information Flow from Business Process to Financial Statement

• Procurement
• Revenue
• Fixed assets
• Payroll and production cost
• Sales and marketing
• Financial reporting

Financial Statements

• Balance sheet
• Income statement
• Annual reports
• Analyzing financial statements

Financial Auditing Process

• Identifying objectives
• Risk assessment
• Identifying control
• Testing procedures