Introduction:

This 5-day program is designed to build and enhance the professional capabilities of individuals working in or aspiring to work in financial auditing. It provides practical knowledge, tools, and techniques used in auditing financial statements, evaluating internal controls, and ensuring compliance with regulatory standards. The program is aligned with international best practices and helps participants become proficient in audit planning, execution, and reporting.

Target Audience:

• Junior and mid-level financial auditors

• Accountants transitioning to audit roles

• Internal control specialists

• Financial controllers

• Compliance and risk management professionals

Objectives:

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

• Understand the core responsibilities and processes of a financial auditor

• Plan and perform financial audits using structured methodologies

• Evaluate and test internal control systems

• Analyze financial data for accuracy and completeness

• Prepare and present clear audit findings and reports

• Comply with ethical and professional auditing standards

Outlines:

Day 1:

Understanding the Role of the Financial Auditor

• What is financial auditing? Purpose and scope

• Types of audits: financial, internal, external, forensic

• Auditor’s responsibilities and independence

• Key auditing standards and regulatory frameworks (ISA, IFRS overview)

• Audit ethics and code of conduct

Day 2:

Audit Planning and Risk Assessment

• Steps in audit planning and strategy development

• Understanding the client’s business and environment

• Identifying and assessing audit risks

• Defining audit objectives and scope

• Materiality concept and audit evidence requirements

Day 3:

Internal Controls and Control Testing

• Understanding internal control frameworks (COSO)

• Risk control matrix and walkthroughs

• Types of control testing

• Identifying control deficiencies

• Documenting and communicating control issues

Day 4:

Audit Execution and Evidence Collection

• Performing audit fieldwork

• Substantive vs. control testing

• Gathering and evaluating audit evidence

• Auditing specific accounts: cash, receivables, inventory, fixed assets

• Sampling techniques and audit documentation

Day 5:

Audit Review, Reporting, and Case Study

• Final audit procedures and review techniques

• Drafting audit reports and management letters

• Communicating findings to stakeholders

• Best practices in audit documentation

• Case study: Simulated audit scenario and report preparation

• Wrap-up and certificate of completion