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HOW TO SURVIVE YOUR ANNUAL AUDIT
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£110+VAT. (click here for information on the Flexiticket discount scheme - fees as low as £61.67+VAT per place).
For finance professionals working in industry, the annual audit can be a stressful process, especially in the light of recent audit ‘scandals’ which have meant that audit firms need to be seen to be following relevant regulations to the letter. This course will provide a useful insight into the audit process for those who are being audited which will allow them to better prepare and to get more effective and efficient outcomes.
WHO SHOULD ATTEND?
CFOs and finance managers working in industry who want a better insight into the audit process and how to get better outcomes from it. Whilst the course is principally targeted at accountants in business it will provide a useful refresher and update for auditors on current financial reporting and auditing hot topics and how they should approach these when carrying out audits in 2020.
- When are audits needed
- Key questions to ask when choosing an auditor
- How the ‘risk-based’ approach works in practice
- How auditors assess and use accounting systems
- How sampling is used and how auditors pick samples
- Materiality – what it means and how it’s used
- What to expect from the management letter
- Fraud – what the audit does and doesn’t achieve
- How to plan for the audit visit to get better outcomes
- Common tests likely to be performed when auditing an SME
- Discussing fees
- How auditors can and do use IT and technology
- Key accounting outcomes companies want - and how auditors challenge them
- New financial reporting rules for 2019/20 year ends
- Important new narrative reporting rules - and why auditors care about them
- Top tips for planning for your audit to help it go smoothly
- Recent Big Four auditing 'scandals' and how they affect smaller firms and their clients