Risk Assessment in Financial Statement Audits


Date: Jun 28, 2024 - Jun 28, 2024

CPD hours: 2 Hours

Time: 10:00 - 12:00

Event Type: Webinar

Presenter: Monja van Zyl CA(SA) 
Director

Risk assessment in financial statement audits is pivotal for ensuring the accuracy and trustworthiness of reported financial data.

Overview  

Risk assessment in financial statement audits is pivotal for ensuring the accuracy and trustworthiness of reported financial data. In the process of understanding the audited entity and its operational landscape, auditors need to pinpoint significant accounts and disclosures while evaluating inherent and control risks associated with them.  

Leveraging analytical procedures and substantive tests, auditors gather evidence to validate financial assertions and gauge the potential for material misstatement, including fraudulent activities. Documentation serves as a cornerstone throughout, facilitating audit planning, execution, and reporting.  

We are delighted to extend an invitation to you to join Monja van Zyl CA(SA) on 28 June 2024, from 10:00 a.m. to 12:00 p.m., for invaluable insights on conducting a diligent risk assessment and tailoring audit procedures to address critical areas effectively. This session promises to equip you with the necessary tools and knowledge to support the integrity of financial statements. 


Learning objectives  

Attending this webinar will equip you with the following skills: 

  • Possess the knowledge to be able to differentiate between inherent, control, and detection risks. 

  • Gain a deep understanding of how to apply the audit risk model to ensure thorough risk assessments. 

  • Develop skills to effectively identify and assess significant risks prevailing in each audit engagement. 

  • Have the knowledge to design and implement effective audit procedures based on assessed risks. 

  • Fully understand and apply relevant auditing standards in all engagements, particularly ISA 315 and ISA 330. 


Content 

The webinar will cover the following topics:  

  • Introduction to risk assessment in auditing.  

  • Understanding the audited entity.  

  • Identifying significant accounts and disclosures.  

  • Evaluation of inherent risks.  

  • Assessment of control risks.    

  • Leveraging analytical procedures in audits.  

  • Substantive testing strategies.  

  • Detecting and addressing fraud risks.  

  • Integrating risk assessment into audit planning. 

  • A look at risk assessment standards:  

    • ISA 315. 

    • ISA 330  

  • Reporting audit findings.  


Obtaining your CPD certificate 

This training is compliant with the International Education Standard (IES7) issued by the International Federation of Accountants and recognised for CPD by relevant professional bodies including ACCA, CIMA, IAC, IIA, SAICA and SAIPA. 

All attendees are issued with a CPD certificate available in an online profile.   


About the presenter 

Monja van Zyl CA(SA)  

Monja van Zyl completed her CA(SA) articles in Durban and qualified as a chartered accountant in 2006. She then worked for both listed and unlisted companies in various industries where she mentored and led teams of different sizes. 

Recognising the importance of balancing work and life, Monja started her own business called Aim Business Advisory Services in 2019. Her target market is the small-to-medium sized companies to whom she gives access to her vast skills and experience at a fraction of the cost on an outsourced retainer model.  


Who should attend? 

The following persons will benefit from attending this webinar: 

  • Practising accountants including: CA(SA), Professional Accountant (SA), AGA(SA), FCCA, BAP(SA), BA(SA) and ACCA. 

  • Registered auditors. 

  • Independent reviewers. 

  • Trainee accountants. 


Price 

  • R 450.00 - Online admission - Individual. 

  • Group Price 1 - From R184 per person (up to 5 users) 

  • Group Price 2 - From R121 per person (up to 10 users) 

  • Group Price 3 - From R109 per person (over 11 users) 

 

Steps to register for the event:  

If you already have a profile, login and register for the webinar. 

If you don’t have a profile, create a free profile then login and register for the webinar. 

Click here to create a free profile (There is no charge to create a profile and gain access to our free Monthly Practice Management Series). 

Click here to find out about the Technical Resource Centre & CPD Subscription options. 


Additional material 

By attending this webinar you will be provided with: 

  • A summarised slide presentation. 

  • Reference documents and/or course material where available. 

  • You can ask questions during the webinar and you will also have access to the presenter after the webinar. 


Corporate training solutions 

At SA Accounting Academy, we recognise the evolving needs of businesses in today's dynamic environment. Beyond our standard webinar offerings, we provide tailored corporate training solutions designed to empower your team with the latest in accounting and professional skills. Whether you're looking for online sessions or face-to-face training, our programs are crafted to ensure a comprehensive and engaging learning experience.  

Drawing inspiration from modern training methodologies, our corporate solutions are interactive, adaptable, and focused on real-world applications. We prioritise hands-on learning, ensuring your team can immediately apply their newfound knowledge in practical scenarios.  

Interested in a bespoke corporate training experience? Reach out to us at [email protected] or call 010 593 0466. Together, let's design a training program that elevates your team's capabilities and aligns with your organisational goals.  


Contact us   

  Have any questions or need any assistance? Contact us today!   

 

 

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Venues & Dates

The following venues and dates are available for this event.


Discounts available

The following discounts are available for this event

Discount Promo Code: Access to the webinar / recording

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