This course is aimed at new trainees and those staff with a little more experience who will soon be working on audits for the first time. The objective of the course is to explain how audit varies from accounts preparation and provide attendees with a good understanding of the purpose of an audit and their role on the assignment. Through a series of practical examples and exercises it introduces the following concepts.

• The objective of a statutory audit;
• The types of entities that require an audit and the challenges that auditor faces for different types of assignment;
• The overall regulatory framework – International Standards on Auditing (UK);
• The audit process in practice, and a junior’s role on an audit;
• Introduction to the concepts of materiality, risk and audit sampling;
• Introduction to financial statement assertions;
• Key audit techniques used;
• Working papers: documenting the work performed and conclusions reached;
• Attendance of stocktakes.