Management & Leadership Seminars

Effective control and analysis of financial statements



Introduction:

The audit profession has undergone a series of tremendous and continuous developments accompanied by the complexity and diversity of activities, and with the large size of the institutions and the magnitude of the human, physical and financial means used in them day by day. And deviations, and sometimes manipulations.

The Objective:

  • Refine the skills of participants in the field of auditing and financial audit.
  • Practical application of the latest scientific and practical methods in the field of auditing and financial control.
  • Diagnose, study and discuss practical problems of internal audit and control.

The Content:

The development of internal control systems according to the latest global developments:

  • Financial Control.
  • Administrative and performance control.
  • Internal Audit Department.
  • Internal control in accordance with the concept of the COZO Commission.
  • US Oxley Act and Sarpenes Reforms.
  • Auditing Committees.
  • Governance.
  • Strategic Auditing.
  • Risk Auditing.
  • Derivates Auditing.
  • Electronic Information System Auditing.

Using the sampling method to evaluate the internal control system:

  • Requirements for sampling methodology in accordance with the requirements of IAS 530.
  • Concepts and terms used in sampling method.
  • Implementation of audit tests.
  • Elements of the audit sample.
  • Determine the size of sample.
  • Determine the methods of selecting the sample items.
  • Random selection method.
  • Evaluate sample results.

The use of statistical methods to audit the risks of internal control systems:

  • Risk audit in accordance with the requirements of ISA 400.
  • Use the regression method to predict financial failure (project continuity).
  • Altman Z-Score.
  • The Comport model.
  • KEDA model.
  • Sherwood model.
  • The use of financial correlation in measuring financial fraud and fraud.
  • Using the MANGO methodology to verify the soundness of financial management.

Audit of estimated financial statements:

  • Examination of future financial information in accordance with International Standard on Review Engagements 810 - Objective of a test of future financial information.
  • Information that the reviewer needs to obtain evidence of future information.
  • Evaluate the presentation and disclosure of future financial information.
  • Future Financial Information Test Report.
  • Revision of accounting estimates - in accordance with International Standard on Review Engagements 540.
  • Nature of accounting estimates.
  • Examine and test the context used by management.
  • Use an independent estimate.
  • Examine subsequent events.
  • Evaluate the results of the review procedures.

Use analytical procedures in auditing financial statements:

  • Nature and purpose of analytical procedures.
  • Analytical procedures in planning the audit process.
  • Analytical procedures as essential procedures.
  • Analytical procedures at the end of the review.
  • Extent of reliance on analytical procedures.
  • Check for unusual items.

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