Audit Courses |Practical Auditing Training Courses London

"Audit courses at Future Connect Training provide you full understanding about auditing standards and processes.Best training for ACCA ,CIMA graduates."

Audit courses with Future Connect Training provide you full understanding about auditing and enhance your accountancy skills. An audit is done by an external party or an internal auditor or who provide a detailed report on whether the financial statements give a 'true and fair' description of the organizational performance. Institute of Chartered Accountants in England and Wales (ICAEW) control the auditing firms in the UK.

Levels of an audit

1. Planning

The initial stage is planning when an auditor decides if he has to reject the client files or accept it for an audit. After a detailed analysis, he then agrees to start working on the company audit and arranges the work that needs he should do with the time designated and the type of work that he needs to execute.

2. Risk assessment

The auditor in this stage analyses the company to recognize the main risks that affect the company will analyze the. In this stage, a significant amount of time is put into the audit to identify and locate the main threats in the business.

3. Audit strategy

There can be many risks that can come ahead of the risk assessment; once they are recognized, mandatory tests executed to approach the risk.

4. Gathering evidence

The auditor now conducts the actual test in this stage when the evidence is collected. The analysis is on the nature of the evidence. If the company identifies the faults and mistakes, a discussion is done in the company. By this, the risks and errors are assessed and give the company time to fix them before release.

5. Concluding

In the final step, the auditor will assess if the last statement does not have any faults and errors.

Different Audit Types

An Audit is an investigation of and existing financial report of the organization. There are various audits conducted which include -

Compliance audit

Compliance Audit commonly executed for educational institutions and businesses. Analysis of policies conducted which also includes procedure judgement with the standards to follow.

Construction audit

For any construction project, cost analysis executed. Overhead costs, costs which paid, deadlines of completion of the project, contractor agreements are analyzed in this audit.

Information systems audit.

In this audit, computer system access, software development and data processing control reviewed by an auditor. To identify and locate anything harmful and issues that are damaging to the system, which can create IT-related errors analyzed to make sure external parties do not have access to the private data.

Investigative audit.

In this audit, an investigation of a particular individual or area takes place only when there is a suspicion of the inappropriate or fraudulent activity takes place. The plan is to locate and remedy control breaches, as well as to collect proof in the case.

Financial audit

An audit conducted to understand the integrity of the data that the financial report carries. CPA firm is experts in this type of assessments as it is an independent review provider.

Tax audit

Tax returns which are proposed by an organization, they are rectified by an auditor in this type of audit to verify if the tax liability is correct. They have generally conducted on very less amount of tax payments to check if any further assessment to be done.

Future Connect training with audit courses

If you want to learn how to conduct an audit and wish to acquire more knowledge and understanding related to auditing, you can enrol with Future Connect.

You will learn in audit courses

  • How to conduct an audit
  • The responsibilities of an internal auditor
  • How to prepare for an audit
  • How to construct practical checklists
  • How to audit a process to examine whether it conforms and is effective
  • How to provide audit reports
  • How to test the effectiveness of any report.

What you need to enrol for this training

No previous audit experience or training required.

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