Course Introduction
Quiz
The Professional Environment
Coffee Break
Professional Engagements
Lunch
Generally Accepted Auditing Standards
Financial Statement Assertions
Good Working Papers
Knowledge of Client’s Business
Coffee Break
Materiality and Audit Risk
Misstatements
Illegal Acts
Internal Control
Establish Teams and Assignment of Home Study

DAY TWO

Introduction
Service Bureau and Audit Requirements
Case Study – RPM Motors Limited
Internal Control Evaluation Questionnaire
Computer Internal Control Questionnaire
Completion of ICEQ’s
Complete Cradle to Grave Testing
Audit Testing
Lunch
Weakness Investigation Worksheet (WIWS)
Internal Control Letter
Case Study – RPM Motors Limited
Preparation of Substantive Procedures
Preparation of WIWS and Internal Control Letter
Working Paper Review
Assignment of Home Study

DAY THREE

File Review Comments
Interdependence Between Interim and Year End Audit
Cash and Bank
Accounts Receivable
Case Study – RPM Motors Limited
Cash and Accounts Receivable
Inventory
Prepaid Expenses
Lunch
Capital Assets
Case Study – RPM Motors Limited
Inventory
Capital Assets
Prepaid Expenses
Accounts Payable
Accrued Liabilities
Sundry Liabilities
Long-term Debt
Professional Visits
Discussion

DAY FOUR

Share Capital and Retained Earnings
Revenue and Expenses
Case Study – RPM Motors Limited
Share Capital
Revenues and Expenses
Financial Statements Preparation
Auditor’s Standard Report
Lunch
Case Study – RPM Motors Limited
Completion of Working Papers
Preparation of the Financial Statements
Preparation of the Auditor’s Report
Assignment

DAY FIVE

Review and Compilation Engagements Quiz
Representation Letters
Review and Compilation Engagements
Coffee Break
Summary of Current Developments in the Profession
Lunch
Case Presentation
Wrap-up
Evaluation Forms