Course Introduction
International Standards on Auditing (ISA) Training Course provides a comprehensive and practical understanding of the principles, requirements, and application of International Standards on Auditing within modern audit engagements. Participants will examine how ISA requirements guide audit planning, risk assessment, evidence gathering, documentation, professional judgment, and audit reporting.
The course takes participants through the complete audit engagement lifecycle, beginning with client acceptance, engagement planning, understanding the entity, assessing risks, determining materiality, and designing appropriate audit responses. Particular attention is given to applying the standards consistently while adapting audit procedures to different organizational structures, industries, transaction types, and risk environments.
Participants will explore essential ISA requirements relating to audit evidence, internal controls, analytical procedures, sampling, estimates, related parties, fraud, going concern, subsequent events, and written representations. The program emphasizes practical application, helping participants understand how auditors translate international standards into effective procedures, working papers, conclusions, and communications.
The course also develops participants’ ability to exercise professional skepticism and professional judgment throughout the audit process. Through practical examples and case-based scenarios, participants will learn how to identify risks of material misstatement, evaluate the sufficiency and appropriateness of audit evidence, assess identified misstatements, and determine appropriate responses to significant audit findings.
Contemporary audit developments are incorporated into the program, including audit data analytics, artificial intelligence, automation, cybersecurity, information technology controls, remote auditing, digital evidence, sustainability-related information, and evolving expectations concerning audit quality. Participants will consider how these developments affect audit risk, evidence, documentation, auditor responsibilities, and engagement execution.
By combining technical standards with practical audit applications, the course enables participants to strengthen their ability to plan, perform, document, review, and report audit engagements in accordance with applicable ISA requirements. The program is designed to support consistent audit execution, stronger professional judgment, improved documentation, and more effective communication of audit findings.
Duration
5 days
Who Should Attend
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External auditors responsible for planning, performing, documenting, and reporting financial statement audit engagements.
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Internal auditors seeking a stronger understanding of internationally recognized auditing principles and methodologies.
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Audit managers and supervisors responsible for reviewing audit files and evaluating compliance with ISA requirements.
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Audit partners and engagement leaders overseeing audit quality, professional judgments, significant risks, and reporting decisions.
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Financial accountants who regularly interact with external auditors and need to understand audit procedures and evidence requirements.
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Finance managers responsible for audit coordination, financial controls, reporting processes, and responding to audit findings.
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Chief financial officers seeking stronger knowledge of audit requirements, responsibilities, evidence, and governance communications.
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Internal control and risk professionals evaluating controls, financial reporting risks, and audit readiness within organizations.
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Compliance professionals responsible for monitoring governance, financial reporting, assurance, and regulatory requirements.
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Audit committee members seeking practical insight into audit planning, significant risks, findings, and auditor communications.
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Accounting and finance professionals transitioning into external audit, assurance, internal audit, or financial reporting roles.
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Public sector audit and finance professionals involved in financial statement audits and assurance engagements.
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Consultants and advisory professionals supporting organizations with audit readiness, controls, risk management, or assurance assignments.
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Quality assurance professionals responsible for reviewing audit methodologies, engagement documentation, and compliance with professional requirements.
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Professionals seeking internationally oriented audit knowledge applicable to contemporary financial statement assurance engagements.
Course Objectives
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Develop a comprehensive understanding of International Standards on Auditing and their application throughout the financial statement audit lifecycle.
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Enable participants to plan audit engagements effectively by understanding the entity, assessing risks, determining materiality, and designing appropriate responses.
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Strengthen participants’ ability to identify and assess risks of material misstatement at financial statement and assertion levels.
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Develop practical skills for obtaining, evaluating, documenting, and concluding on sufficient and appropriate audit evidence.
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Improve understanding of professional skepticism, professional judgment, ethical responsibilities, independence, and audit quality throughout an engagement.
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Enable participants to evaluate internal controls and determine appropriate audit responses based on assessed control and financial reporting risks.
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Strengthen competence in auditing estimates, fair values, related parties, fraud risks, going concern matters, subsequent events, and other complex audit areas.
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Develop the ability to evaluate identified misstatements and determine their effect on financial statements, audit conclusions, and reporting requirements.
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Introduce technology-enabled auditing, data analytics, artificial intelligence, cybersecurity, digital evidence, and other emerging issues affecting ISA implementation.
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Enhance participants’ ability to prepare high-quality audit documentation, communicate significant findings, and support appropriate audit reporting conclusions.
Comprehensive Course Outline
Module 1: Foundations of International Standards on Auditing
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Understanding the purpose, structure, scope, authority, and fundamental principles underlying International Standards on Auditing.
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Examining auditor responsibilities, professional skepticism, professional judgment, ethical requirements, and overarching audit quality considerations.
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Understanding the relationship between management responsibilities, auditor responsibilities, financial reporting frameworks, and audit objectives.
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Applying ISA principles consistently while considering differences in entity size, complexity, industry characteristics, and engagement circumstances.
Module 2: Audit Engagement Acceptance, Planning, and Strategy
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Evaluating client acceptance and continuance considerations, engagement prerequisites, independence requirements, and preliminary risk factors.
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Developing an overall audit strategy that establishes the scope, timing, direction, resources, and significant focus areas of the engagement.
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Preparing an effective audit plan that translates identified risks and engagement objectives into specific audit procedures.
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Coordinating audit team responsibilities, supervision, review processes, specialists, component auditors, and engagement quality considerations.
Module 3: Risk Assessment and Materiality
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Understanding risk assessment procedures for obtaining knowledge of the entity, business environment, internal controls, and financial reporting processes.
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Identifying and assessing risks of material misstatement at the financial statement and assertion levels using structured audit methodologies.
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Applying materiality, performance materiality, and thresholds for clearly trivial misstatements when planning and evaluating audit procedures.
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Designing appropriate audit responses that address significant risks, fraud risks, control weaknesses, and other identified areas of audit concern.
Module 4: Internal Controls and Audit Responses
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Understanding internal control components and evaluating controls relevant to financial reporting, transaction processing, and audit risk.
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Performing walkthroughs and documenting processes to identify control points, deficiencies, risks, and opportunities for substantive testing.
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Designing tests of controls and determining when reliance on controls is appropriate based on their design and operating effectiveness.
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Integrating control risk assessments with substantive procedures, analytical procedures, sampling decisions, and overall audit responses.
Module 5: Audit Evidence, Sampling, and Analytical Procedures
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Understanding the nature, timing, extent, relevance, reliability, sufficiency, and appropriateness of audit evidence obtained during engagements.
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Applying inspection, observation, inquiry, external confirmation, recalculation, reperformance, and analytical procedures effectively.
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Designing audit sampling approaches and evaluating sample results, deviations, misstatements, and their implications for audit conclusions.
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Using substantive analytical procedures to identify unexpected relationships, fluctuations, trends, and potential financial statement misstatements.
Module 6: Fraud, Estimates, Related Parties, and Complex Risks
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Identifying fraud risks, management override risks, unusual transactions, incentives, opportunities, pressures, and other relevant fraud indicators.
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Auditing accounting estimates and related disclosures by evaluating assumptions, methods, data, valuation techniques, and management judgments.
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Identifying and auditing related-party relationships and transactions while considering completeness, authorization, disclosure, and unusual arrangements.
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Addressing complex audit risks involving significant judgments, unusual transactions, estimates, valuations, and areas requiring heightened professional skepticism.
Module 7: Specialized ISA Audit Areas
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Auditing accounting estimates, fair value measurements, provisions, contingencies, and other balances involving significant estimation uncertainty.
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Evaluating going concern assumptions, management assessments, mitigating factors, disclosures, and auditor responsibilities when material uncertainty exists.
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Performing procedures for subsequent events, written representations, opening balances, comparative information, and other specialized audit matters.
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Understanding the use of experts, component auditors, internal auditors, service organizations, and other parties contributing to audit evidence.
Module 8: Audit Documentation, Completion, and Quality Management
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Preparing audit documentation that demonstrates procedures performed, evidence obtained, significant judgments made, and conclusions reached.
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Performing completion procedures covering uncorrected misstatements, final analytical review, subsequent events, going concern, and overall financial statement evaluation.
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Understanding engagement quality management, supervision, review responsibilities, consultation requirements, and processes supporting consistent audit quality.
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Evaluating audit files for completeness, clarity, consistency, evidence linkage, professional judgment, and compliance with applicable ISA requirements.
Module 9: Audit Reporting and Communication
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Understanding the structure and purpose of the independent auditor’s report and the circumstances affecting different audit opinions.
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Evaluating material misstatements, pervasive effects, scope limitations, and other matters that may influence the form of the audit opinion.
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Understanding key audit matters, emphasis of matter paragraphs, other matter paragraphs, and relevant reporting considerations.
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Communicating significant audit findings, control deficiencies, accounting matters, and governance issues effectively to management and those charged with governance.
Module 10: Emerging ISA Issues, Technology, and Practical Case Studies
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Applying audit data analytics, automation, artificial intelligence, and digital audit tools while considering evidence reliability and audit risk implications.
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Addressing cybersecurity, information technology controls, cloud environments, automated processes, digital evidence, and technology-driven reporting risks.
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Exploring sustainability-related information, evolving assurance expectations, emerging reporting practices, and their potential implications for audit engagements.
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Applying ISA requirements through integrated case studies covering planning, risk assessment, evidence, testing, documentation, findings, and audit reporting.
Training Approach
This course will be delivered by our skilled trainers who have vast knowledge and experience as expert professionals in the fields. The course is taught in English and through a mix of theory, practical activities, group discussion and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.
Tailor-Made Course
This course can also be tailor-made to meet organization requirement. For further inquiries, please contact us on: Email: training@upskilldevelopment.com Tel: +254 721 331 808
Training Venue
The training will be held at our Upskill Training Centre. We also offer training for a group (at a discount of 10% to 50%) at requested location all over the world. The Onsite course fee covers the course tuition, training materials, two break refreshments, buffet lunch, airport transfers, Upskill gift package, and guided tour.
Visa application, travel expenses, dinners, accommodation, insurance, and other personal expenses are catered by the participant
Certification
Participants will be issued with Upskill certificate upon completion of this course.
Airport Pickup and Accommodation
Airport pickup and accommodation is arranged upon request. For booking contact our Training Coordinator through Email: training@upskilldevelopment.com, +254 721 331 808
Terms of Payment:
Unless otherwise agreed between the two parties’ payment of the course fee should be done 3 working days before commencement of the training so as to enable us to prepare better.
