THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(established under the Accountant Act, Laws of Kenya)
Audit Quality Assurance Seminar
DATE: 15th to 16th March 2018
VENUE: Sirikwa Hotel, Eldoret
TIME: 8am to 5pm
Audit quality encompasses the key elements that create an environment which maximizes the likelihood that quality audits are performed on a consistent basis. The objective of an audit of financial statements is for the auditor to form an opinion on the financial statements based on having obtained sufficient appropriate audit evidence about whether the financial statements are free from material misstatement and to report in accordance with the auditor’s findings.
The International Auditing and Assurance Standards Board promulgates standards whose objective is to ensure that auditors perform quality audits whose ultimate goal is public interest. The course is aimed at reminding members of their primary objective to establish an environment that promotes quality audits while also ensuring that they remain competent to address changes in the environment which requires dynamism when auditing. It is also expected that the course will discuss the need for a convergence between stakeholders to influence quality of audits and shall include the role of ICPAK in ensuring compliance through quality reviews.
With a focus on quality assurance on audit, ICPAK has developed this 2-day workshop to equip.
The specific training objectives will be as follows:
- ISQC 1: A practical approach
- Policy and Procedure Development guidance
- Documentation policies
- Audit Planning and Risk Assessment:
(A practical case study of the planning process)
Why Plan? Discuss the effectiveness of audit planning to ensure: that appropriate attention is devoted to key audit areas and significant risks, potential problems are identified and resolved on a timely basis, engagement is properly organized and managed in order to be performed in an effective and efficient manner, Proper assignment of work to the engagement team as well as making the engagement team aware of their responsibilities, give proper direction and supervision of the engagement team and review of their work, and assists, where applicable, in the coordination of work done by the auditors of components and experts.
- Engagement Performance
- Engagement documentation
- Planning, Supervision and review
- Obtaining written representations
- Articulation of key audit matters
- Substantive testing
- Risk Assessment
- Obtaining evidence
4. Reporting- The New Auditor’s Report
Why Change the Auditor’s Report?
The auditor’s report is the key deliverable communicating the results of the audit process. Investors and other financial statement users have asked for a more informative auditor’s report—for auditors to provide more relevant information to users. What has changed? Discuss:
- ISA 701 New
- ISA 700 Revised
- IAS 705 Revised
- IAS 520 Revised
- ISA 570 Revised
This session will also include a case study on ICPAK Audit Model File.
- Emerging Issues on Ethics, Audit Risk and Audit Reporting (Round table/ group discussions)
- Responding to non-compliance with laws and regulations (NOCLAR)
- Whistleblower activity: Potential implications
- Disruptive technology changes: use of data/data auditing
- Auditor Independence .
**Members to converge in groups and discuss on the Emerging Issues
This workshop will be most beneficial to delegates drawn from both the public and private sectors particularly; Associate Members, Internal & External Auditors, Accountants, Staff Working in Audit Firms owned by Members, Members in Practice, Preparers of IFRS Financial Statements, Non-Auditors with Internal Control Responsibilities, Academicians and Consultants.
Kindly note that booking for the Audit Quality Assurance Seminar is available either online at www.icpak.com/events or on the ICPAK Live –A smart phone based application that is available from google store. Delegates are urged to note that the bookings close on 14th March 2018 at 1700 hrs
Audit Quality Assurance Seminar Charges:
The Charges for Audit Quality Assurance Seminar which cover seminar materials, meals, and e-certificates of attendance is as provided under;
Continuous Professional Development Units – 14
Members of ICPAK and other reciprocating professional bodies will earn 14 CPD points upon successfully attending Audit Quality Assurance Seminar
National Industrial Training Authority (NITA) Reimbursement
The Institute is registered as a trainer with National Industrial Training Authority. The Institute’s registration number is DIT/TRN/47. Participants who are registered levy contributors should apply to NITA for reimbursement of their fees. Please note that this is applicable for Kenyan citizens only and subject to NITA regulations. Remember that to qualify you should apply to NITA for approval prior to the date of the conference. Further details can be obtained from their website (www.nita.go.ke).
Sponsorship Opportunities & additional information
The Audit Quality Assurance Seminar attracts over 100 participants drawn from both the public and private sectors presenting a rare chance for exhibitors and sponsors. Those interested in sponsoring this event can reach us through firstname.lastname@example.org
Further requests for the Audit Quality Assurance Seminar can be channeled to us via telephone calls on +254 719 074 100/ +254 719 074 129 or via email to email@example.com. We encourage you to regularly visit our website www.icpak.com for more updates.