Effective Internal Audit and Techniques

Training on

Effective Internal Audit and Techniques

20-21 February 2016

The basic purpose of auditing is to confirm the authenticity of books of accounts prepared by an accountant, and to determine the true and fair picture of accounts, and the book of accounts with supporting documents in order to detect and prevent fraud and error. Audit provides a lot of benefit like:

• Vouching  and verification of book of accounts
• Independent opinion issuing
• Ethical checking
• Reliance by external users
• Prevention, detection of fraud and error of book of account on time.
• Protection of the rights and interests of share holder
• Ensure compliance with level requirement
• Strengthen internal control to prevent risk of the business

COURSE OBJECTIVES

• Understand the scope and role of Audit
• Understand professional standards and ethics of audit
• Understand the internal control and internal audit of the business
• Understand the sampling and interview technique
• Understand audit technique and tools to gather evidence
• Understand assertion of Financial Statement
• Understand the risk areas of the business
• Understand Audit methodology (Phase of audit work)
• Be able to prepare working paper and working files of audit documentation
• Be able to prepare audit program for specific areas of audit  
• Be able to audit operation and finance of business (revenue, expenses, Cash, Inventory, Trade Receivable, PPE, Trade Payable…etc.,)  
  

COURSE CONTENTS
Module I: An Auditing Initiation

• Definition of Auditing
• Objective and Feature of an Audit
• Why is there a need for an Audit?
• Role of Auditors in detecting errors and frauds
• Relation between Book-keeping,  Accountancy and Auditing
• Professional Standards and Ethics of Audit
• Scope and Procedures of Audit
• Advantages and Limitations of Auditing
• How to be a good auditor?
• Internal Statement of Audit (IAS)

Module II: Internal Control and Internal Audit 

Effective System of Internal  Control

• Objective of Internal Control
• Function of Internal Control
• Internal Control Concept

Internal  Audit

• What is internal Audit?
• Purpose of Internal Audit
• Function of Internal Audit
• Key qualities of internal auditor

Module III: Performing the Initial Auditing Steps

• Audit cycle
• What are being audited
• What is audit risk?
• Assertion of Financial Statement
• Possible arrears mistake or errors
• Audit technique and procedure to obtain audit evidence
• Common Audit Techniqu
• Sampling techniques
• Interview technique
• Type of audit evidence
• Audit tools to obtain evidence
• Why need audit documentation?
• Audit Working Paper and working files
• Internal Audit Methodology (Planning, Preparation, Execution, Reporting and Follow up)

Module IV: Audit practice Example

• Analytical Procedure
• Cash and Bank          
• Inventory
• Trade receivable
• Property, Plant and Equipment
• Trade Payable
• Long term liability
• Revenue
• Purchases and expenses audit

TRAINER PROFILE

Mr. Sea Soda, BBA and MBF, is an experienced finance professional with practical experience of training and consulting in the fields of accountancy and finance. Throughout his career and personal life, he has earned rich experiences with Accounting and Audit for more than 10 years. Currently, Mr. Soda is a consultant on finance and accountancy services to the clients with diversifying sectors such as Service, Trading, Manufacturing, Microcredit, NGO, Restaurant and Hotel, Construction. Agricultural Industry and so on; otherwise not only the account and audit, but he also has built his experiences and expertise in Cambodian taxation as well. Mr. Soda has delivered training on Practical Accounting, and Computerized Accounting System to many of his clients. Bio Highlights:Masters of Business in Finance, RULE, Bachelors in Economic Business, NUM, Accounting and Finance Consultant and Tax Agent Certification from General Tax Department

WHO SHOULD ATTEND?
This crucial course is designed for Auditors, Financial Controller Accounting, Finance Professionals, Accounting and Finance student, Accountant and Senior Accountant, Accounting and Finance Managers, Whom want to work as auditors and anyone who is interested in the course or Freelancers in Accounting consultancy.

COURSE DETAILS

Date:                20-21 February 2016

Venue:             Hotel/Restaurant located in Phnom Penh

Time:                8 am- 5 pm

Language:       Khmer

Fee:                 US$ 250 (Includes VAT)

Early Bird:       US$ 230 (Register before February 12)
The Fee includes: Lunch, Refreshment, Materials and  Certificate. 

Educational Development Institute (EDI)

#22, St. 51┴154, SangkatPhsarThmei III, Khan Daun Penh, Phnom Penh.
Tel: 023 966 967 / 015 728 123 / 015 729 123 / 012 915 895 / 016 557 123
Email:  info@edi-cambodia.org  /  training@edi-cambodia.org