Welcome and Introduction

Welcome and enjoy the course

Be Ethical

Please be ethical

Day 1

Read the case study

Fundamental Principles of Auditing

Recap of the fundamental principles

The valuation assertion

Performance materiality

Auditing journals

10 Step audit programme

• How to audit PPE
  • Step by step explanations of how to audit PPE
  • Complete the fixed asset register
  • Residual values
  • Adding the journal entries to your fixed asset register
  • Explaining the journal entries in more detail
  • Please upload your Excel sheet with your journal entries here
  • How to pass the journal entries in Draftworx
  • Please upload your leadsheet here
  • PPE audit programme
• End of the day instructions
  • Thank you for attending

Day 2

Welcome back

Documentation requirements

The use of legends (tickmarks)

Performing the audit procedures for PPE and completing the working paper

How to cross-reference the lead sheet to the working papers on CaseWare

How to cross-reference the lead sheet to the working papers in Draftworx

Please upload your final "Fixed Asset Register" here

Please upload your final lead sheet here

• Auditing investment property
  • How to audit investment property
  • Accounting for Investment Property
  • Please upload your accounting work for investment properties here
  • Auditing Investment Properties
  • Completeness test for investment property
  • Please upload your completeness test working paper here
  • Please upload your audit work for investment properties here
• End-of-the-day instructions
  • Thank you for attending day 2

Day 3

Welcome back

• Auditing investments
  • How to audit investments
  • Upload your accounting work for investments here
  • Completeness working paper for investments here
  • Uploading your final investment working paper here
• Audit inventory
  • How to audit inventory
  • What happens during the stock take?
  • Obtain an understanding of inventory
  • Auditing raw materials
  • Upload your finished goods working paper here
  • Net Realisible Value test (NRV)
  • Upload your NRV test working paper here
• End of day 3
  • Well done. You are doing great

Day 4

Welcome back

• Auditing accounts payable
  • How to audit accounts payable
  • Understanding the system
  • Step 1 to 3
  • Completeness test
  • Please upload your completeness test for accounts payable here
  • Trade payable reconciliation (Valuation Test)
  • Please upload your reconciliation of payables working paper here
  • Subsequent payment testing
  • Please upload your "Subsequent payment test" working paper here
  • Salary control account
  • Upload our completed "salary control account" here
  • Reconciling the age analysis with the account on the lead sheet
  • Upload your current year`s age analysis here
• Auditing provisions
  • What is the difference between a provision and a contingent liability
  • Provision for bonuses
  • Upload your provision for bonuses working paper here
  • Provision for leave pay
  • Upload your "Provision for Leave Pay" working paper here
• How to audit accounts receivables
  • How to audit receivables
  • Upload your 10-point plan here
  • My 10-point plan for debtors
  • Upload your revised 10-point plan here

Day 5

• Long term liabilities
  • How to do the accounting work for long term liabilities
  • Installment sale agreement for the Pony Mixer
  • Upload your working paper for the "Pony mixer" here
  • Installment sale agreement for the tablet Coating Machine
  • Please upload your working paper for the "Tablet Coating machine" here
  • Bond on the property
  • Upload your "Bond on property" working paper here
• Auditing revenue
  • How to audit revenue
  • Testing the completeness of revenue
  • Upload your completeness test working paper here
  • Detail cut-off test
  • Upload your detail cutoff test working paper here
  • Credit note testing for fraud
• The End
  • The End

The Post assessment

Post assessment 

Thank you for attending