The Mechanism For Calculating and Auditing The End Of Service Procedure
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COURSE DATES AND LOCATIONS
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INTRODUCTION
Students are introduced to the field of financial accounting through defining the foundational activities, tools, and users of financial accounting. Students learn to use the accounting equation and are introduced to the four major financial statements. Additional topics include ethical considerations, recording business transactions, and the application of credit/debit rules.
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COURSE OBJECTIVES
At the end of this course you will be able to:
- Impact of the Corporate Governance, SEBI Guidelines, SOX and other auditing standards (for example, ISA) that are relevant for the auditors on the audit process
- Compact overview of the Authorization concept.
- Basic system settings and logs
- Organizational units and organizational structure within an SAP system, Practical analysis of the risks and controls using test cases. General Customizing and controls in Accounting while taking into account the impact on the audit process.
- Auditing of business processes, for example, Procurement, Production, and Sales Order Processing.
- Auditing the end of period financial statements, for example, period- end closing in internal Accounting (Controlling) and in Financial Accounting and Asset Accounting, Evaluation of work in process, allowances, and stock.
- Auditing of specific evaluation methods, for example, stock in an anonymous warehouse, planned cost accounting and inventory costing, actual costing. Transfer of the financial accounting data, balances, and document information to the auditor’s computer in standard format for further analysis (for example, in ACL, IDEA, Excel).
- Protecting the SAP Server from Cyber Attack. Basic overview on SAP GRC along with some Practical’s.
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COURSE AUDIENCE
This course is made for
- Audit Procedures are steps performed by auditors to get all the information regarding the quality of the financials provided by the company, which enable them to form an opinion on financial statements whether they reflect the true and fair view of the organization’s financial position. They are identified and applied at the planning stage of the audit after determining the audit objective, scope, approach, and risk involved.
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COURSE OUTLINE
DAY 1
Inspection – Inspection is the most commonly used method. Under this, the auditor checks every transaction/ document against written steps and procedures to ensure accuracy.
DAY 2
Observation – Under this audit technique, the auditor usually tries to inspect others doing/ performing a particular process. E.g., An auditor may observe steps followed in processing GRN
against goods purchased.
DAY 3
Confirmation – This type is applied to ensure the correctness of financial statements either from internal sources within the auditee organization or from external sources.
DAY 4
Recalculation – Under this audit method, the auditor
usually crosses the checks information presented by the client. It is generally used in case of checking mathematical accuracy.
DAY 5
Reperformance – Using this procedure, the auditor re-performs the entire process performed by the client to find gaps, audit findings, etc.
Practical Examples of Audit
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