The module ‘Conducting the Audit – Part A’ examines the processes and procedures performed by the auditor when auditing the financial statements.
Some of the questions answered are:
- How do audit procedures differ where the prior year audit was performed by another auditor?
- What are the different audit assertions that should be tested?
- What are the different types of audit procedures that can be applied?
- What audit evidence should the auditor obtain?
- What are the relevant accounting policies and tax considerations?
The module covers all the key items and auditor’s obligations in relation to the financial statement audit.
On completing this module, you should be able to:
- explain and apply the audit objectives that apply to the various transactions and classes of transactions in financial statement audit
- identify the key components of financial statement assertions the auditor is required to consider when conducting the audit
- explain the audit evidence and audit procedures required when testing the financial statement assertions
- practical application of the audit framework and audit standards in conducting an audit of the financial report (Part A).
SMSF Audit - Conducting the Audit - Part A