International Finance and Auditing Program

Venue: Crystal Palm Hotels, Accra, Ghana.

Date: 24 - 28 September, 2018.

Fee: $4,500.00

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Conference Objective

In this conference, participants will learn how key business processes relate to financial statements, as well as the impact of technology on financial auditing. The conference will walk participants through an analysis of an organization’s financial statements using case study exercises, where participants will calculate key ratios and analyze trends over time. Finally, by taking on such topics as “common recipes for cooking the books” and engaging in discussions on both historic and current fraud cases, participants will learn how to recognize “red flags” in financial statement reporting.

 

Audit comprises a fundamental component of the recurrent and strategic activities of nearly all professional occupations. While a small group of jobs focus exclusively on internal and external audit tasks, the majority of Finance graduates will utilise the principles and practices of risk assessment, internal control, systems evaluation and forensic accountability in their professional lives. This conference thus aims to provide an new trends to the principles and practices of auditing. In this context, it will also outline and critically examine contemporary audit issues and challenges.

 

At the end of this conference participants will be able to:
  1. Articulate knowledge of current issues in auditing.
  2. Apply critical thinking skills and solve auditing problems through the use of case studies.
  3. Demonstrate the use of the Auditing, Assurance and Ethics Handbook.
  4. Explain the legal framework under which company audits are conducted and apply the professions code of conduct.
  5. Demonstrate the ability to undertake research on significant auditing issues and to keep up-to-date with developments in auditing theory and practice.
  6. Outline the role of auditing in society.

Conference Outline:

Accounting and Auditing Review
  • Discuss  International Financial Reporting Standards (IFRS)
  • Perform a risk assessment using the financial auditing process.
  • Evaluate controls in the audit process by using finance-related management assertions.
  • Review an IIA Practice Guide about formulating and expressing internal audit opinions.

Technology and Accounting

  • Discuss the risks and control breakdowns of User-developed
  • Applications (UDAs) and best practices for controls over UDAs.
  • Describe how to minimize risk and limit exposure in using spreadsheets.
  • Discuss how Enterprise Resource Planning (ERP) supports and automates business processes.
  • Identify audit techniques to use in performing an application review of a financial audit.

 Financial Statements – Overview

  • Review the characteristics of key financial statements.
  • Recognize the flow of information from source documents to financial statements.
  • Identify the components of a financial balance sheet.
  • Distinguish where in an income statement financial accounts should appear.
  • Calculate key ratios from a company’s financial statements.

Business Processes and Accounting

  • Differentiate between management-level reporting and consolidated financial statement-level reporting.
  • Analyze data using horizontal and vertical analysis.
  • Describe revenue process activities and associated rules.
  • Describe procurement process activities and associated rules.
  • Describe fixed asset process activities and associated rules.
  • Recall key revenue, liability, and inventory-related ratios.
  • Practice using a risk assessment template to analyze risks, and design and test controls.

Recipe for Cooking the Books

  • Identify the basic elements of an accounting scandal (fraud).
  • Discuss the five most common financial “games.”
  • Calculate financial indices to use in analyzing data.

 

ACCOMMODATION: This Conference is non-residential. Participants are to lodge in hotels of their choice near the conference centre. A list of these Hotels will be provided on request.