Course in International Standards on Auditing (ISA)

International Standards on Auditing (ISA) form a fundamental pillar for ensuring the quality, reliability, and transparency of financial reporting across organizations worldwide, whether in the public or private sector. Applying these standards enhances credibility, strengthens trust between internal and external stakeholders, and ensures compliance with professional and regulatory expectations. In today’s complex business environment, organizations face increasing challenges, including intricate financial operations, diverse sources of income and expenditure, and heightened governance and oversight requirements. Understanding and applying international auditing standards has therefore become an essential professional skill. This program, provided by Geneva Institute of Business Management, is designed to equip participants with the knowledge and practical framework necessary to apply international auditing standards effectively. The program also aims to familiarize participants with the latest developments and changes in the international auditing environment, enhancing their ability to make informed financial decisions and contribute effectively to strengthening internal controls and financial performance management. Upon completion, participants will be well-prepared to address various professional and technical challenges in auditing, reflecting high levels of professionalism, accuracy, and credibility in financial and accounting work.

Target Group:

• Auditors and internal audit professionals in companies and organizations.

• Financial accountants seeking to enhance their auditing skills.

• Financial managers and supervisors responsible for oversight and control.

• Financial and accounting consultants in public and private sectors.

• Students and graduates interested in specializing in auditing and international accounting.

Objectives:

• Introduce participants to the fundamental principles of international auditing standards.

• Enable participants to apply professional international guidelines in auditing practices.

• Enhance participants’ ability to assess financial risks and conduct audits efficiently.

• Develop participants’ skills in preparing financial reports in accordance with international standards.

• Equip participants with the knowledge to adapt to professional updates and changes in international auditing.

Course Outline :

• Overview of International Auditing Standards

  • Definition and objectives of auditing according to international standards.

  • Importance of international standards in ensuring reliable financial reporting.

  • Structure and framework of international auditing practices.

  • The relationship between auditing and corporate governance.

• Fundamental Principles of Auditing

  • Auditor independence and professional ethics.

  • Professional responsibilities of auditors according to international standards.

  • Principles of planning and organizing the audit process.

  • Importance of documentation and record-keeping.

• Audit Planning and Execution According to ISA

  • Steps for planning an effective financial audit.

  • Risk assessment and prioritization in auditing.

  • Designing effective audit procedures.

  • Evaluating the impact of internal controls on the audit process.

• Collecting and Evaluating Audit Evidence

  • Methods for gathering audit evidence in accordance with ISA.

  • Assessing the reliability of collected evidence.

  • Using technical tools for data collection and analysis.

  • Documenting and reviewing results before issuing the final report.

• Detailed Audit Procedures

  • Verifying accounts and accounting entries accurately.

  • Reviewing financial balances and supporting documents.

  • Validating the accuracy of financial operations and internal processes.

  • Identifying and analyzing financial discrepancies.

• Analytical Auditing

  • Using financial ratios and indicators for analysis.

  • Comparing results with benchmarks and previous periods.

  • Detecting trends and irregularities in financial data.

  • Providing preliminary recommendations based on analytical results.

• International Audit Reporting

  • Components of audit reports according to international standards.

  • Clear presentation of findings and recommendations.

  • Effective communication with senior management and stakeholders.

  • Maintaining professional standards for transparency and accuracy.

• Internal and External Risk Assessment

  • Identifying potential risks affecting financial outcomes.

  • Methods to evaluate the efficiency of internal controls.

  • Linking risks to auditing activities.

  • Developing recommendations to enhance controls and financial procedures.

• Auditing Across Different Sectors

  • Adapting auditing practices to industrial and service sectors.

  • Applying international standards in financial and governmental institutions.

  • Monitoring updates in regulations and professional standards.

  • Addressing sector-specific challenges during the audit process.

• Modern Trends in International Auditing

  • Technological advancements and their impact on auditing practices.

  • Role of digital analysis and computing in auditing.

  • Integrating ERP and financial management systems.

  • Preparing auditors to meet future developments and challenges in the profession.