AUDIT PRACTICAL TRAINING

Module 1: Introduction to Auditing

• Duration: 1 Day

• Objectives:

  • Understand the purpose and scope of auditing.

  • Differentiate between internal, external, statutory, forensic, and compliance audits.

• Content:

  • Definition and objectives of audit.

  • Types of audits (financial, operational, IT, forensic, compliance).

  • Professional ethics & auditor independence.

  • Audit regulatory framework (ISA, GAAS, Companies Act, local laws).

Module 2: Audit Planning and Risk Assessment

• Duration: 2 Days

• Objectives:

  • Learn how to plan an audit effectively.

  • Assess risks and materiality in audits.

• Content:

  • Engagement acceptance & audit engagement letter.

  • Understanding the client and industry.

  • Internal control environment evaluation.

  • Risk-based auditing & materiality concept.

  • Audit strategy and audit plan documentation.

Module 3: Internal Control Systems & Testing

• Duration: 2 Days

• Objectives:

  • Evaluate internal control systems.

  • Learn testing of controls.

• Content:

  • Components of internal controls (COSO framework).

  • Control environment, risk assessment, control activities, monitoring, information systems.

  • Walkthroughs and narratives.

  • Designing and performing tests of controls.

Module 4: Audit Evidence & Documentation

• Duration: 2 Days

• Objectives:

  • Understand the types of audit evidence.

  • Apply appropriate audit procedures.

• Content:

  • Nature, reliability, and sufficiency of audit evidence.

  • Substantive procedures: tests of details & analytical procedures.

  • Audit sampling techniques.

  • Working papers preparation and audit documentation (ISA 230).

Module 5: Audit of Specific Areas

• Duration: 5 Days (1 day each area)

• Objectives:
  Gain practical audit skills for critical financial statement areas.

• Content:

  • Revenue & Receivables: Cut-off testing, confirmations.

  • Purchases & Payables: Supplier confirmations, accrual testing.

  • Cash & Bank: Bank reconciliation, cash counts.

  • Inventory: Observation, valuation, NRV testing.

  • Fixed Assets: Additions, disposals, depreciation, impairment.

Module 6: Audit Completion & Reporting

• Duration: 2 Days

• Objectives:

  • Finalize audit process and issue reports.

• Content:

  • Subsequent events review.

  • Going concern assessment.

  • Management representation letter.

  • Form and content of audit opinion (ISA 700, 705, 706).

  • Reporting to those charged with governance.

Module 7: Specialized Audits

• Duration: 3 Days

• Objectives:

  • Develop competence in specialized areas.

• Content:

  • Forensic audits & fraud detection techniques.

  • IT audits (general & application controls).

  • Public sector audits (compliance, performance audits).

Module 8: Practical Audit Case Study & Simulation

• Duration: 3 Days

• Objectives:

  • Apply all audit knowledge in a simulated environment.

• Content:

  • End-to-end audit of a sample company (case study).

  • Prepare working papers, perform testing, and issue an audit report.

  • Peer review of findings.

Program Duration & Delivery

• Total Duration: ~20 Days (can be spread across 4–6 weeks).

• Delivery Methods:

  • Lectures & presentations.

  • Case studies & role plays.

  • Hands-on exercises with audit working papers.

  • Audit software demonstrations.

  • Group discussions & Q&A.

At the end of this training, participants will:

• Understand the full audit cycle.

• Apply International Standards on Auditing (ISA).

• Gain practical skills in testing, documentation, and reporting.

• Be ready to handle audits for SMEs, corporates, and public entities.