
Explore how to conduct an examination of books to express opinion on whether financial statements present a true and fair view, covering audit concepts, test of controls, substantive procedures.
Explain auditing concepts, the purpose of expressing an opinion on financial statements, and the audit planning process, including engagement, timeframes, and staff allocation.
Explore audit procedures, including test of controls and substantive procedures, to obtain audit evidence, verify opening balances from previous year, and identify material misstatements via vouching, verification, and analytical procedures.
Audit of internal control evaluates the effectiveness and efficiency of controls, including segregation of duties and defined roles and responsibilities, to prevent errors and fraud and guide substantive procedures.
Audit focuses on non-current assets—fixed deposits, tangible and intangible assets—with verification of existence, ownership, depreciation or amortization, and on current liabilities like accounts payable, advance received, and bank overdraft.
Verify that capital is part of equity and that the opening balance is carried forward. Show drawings separately and adjust profits or losses into retained earnings, part of equity.
Explore audit fundamentals through a comprehensive questionnaire covering audit engagement, planning, programs, and procedures for assets, liabilities, revenues, expenses, cash, inventory, tangible and intangible assets, sales, purchases, and audit opinions.
The course mainly focusses on the procedures from audit engagement till the drafting of audit opinion. The course include important auditing concepts, terms like audit planning, audit programme, audit procedures including internal control and checking of financial statements and audit reports and types of audit reports in different practical situations.
The course details the important audit procedures that have to be undertaken regarding every item contained in the financial statements. Each item of the financial statements require different audit procedures, The course aims to provide the methods, techniques and procedures of different items included under the heads, current assets, non-current assets, current liabilities, non-current liabilities, revenues, expenses and capital.
The course will act as a guide for those students at all levels of accounting, auditing, finance and commerce. The course will be a pathfinder to those want to take auditing as a profession.
The students can also keep the course or take down the notes of the course for meeting their educational, practical or professional requirements.
The students will find an easy way to approach auditing. After the end of the course, the students can identify that auditing is not complex as we think, it is too easy if it is well understood.
The Udemy Certificate on course completion can be downloaded after completing the course.