Global Learning for Operational Leaders
Classroom
14 sessions
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Online / Live
14 sessions
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Introduction
Course overview
Financial audits provide assurance that financial statements are reliable and free from material misstatement. Whether performed by internal or external auditors, they require sound planning, risk assessment and evidence.
This Aractech course explains the financial audit process: understanding the entity, materiality, risk assessment, internal control evaluation, substantive procedures for key areas, sampling, analytical procedures, evaluating misstatements and reporting. Participants apply procedures to a case company.
The course strengthens practical audit skills for auditors and finance professionals.
What you will achieve
Learning objectives
- Plan financial audits using risk and materiality
- Understand and test internal controls
- Design substantive procedures for key account areas
- Apply analytical procedures and sampling
- Evaluate misstatements and audit evidence
- Communicate audit findings and opinions
Who should attend
Target audience
- External and internal auditors
- Audit managers and seniors
- Finance controllers
- Accountants preparing for audits
- Public sector auditors
- Audit committee members
Methodology
Learning approach
- Audit methodology sessions
- Case company exercises
- Sampling and analytics
- Working paper review
- Group discussions
Complete course outline
Five focused days of learning and application
The timings provided are estimates and may vary depending on the number of participants and the discussions taking place during the sessions. They are indicative only and do not constitute a binding commitment.
Day 1
Audit Planning
- Audit objectives and standards
- Understanding the entity
- Materiality
- Risk assessment
- Coffee break
- Risk assessment (continued)
- Audit strategy
- Exercise: Materiality calculation
Day 2
Internal Controls
- Control environment
- Control testing
- IT controls
- Deficiencies
- Coffee break
- Deficiencies (continued)
- Reliance decisions
- Workshop: Control evaluation
Day 3
Substantive Procedures
- Revenue and receivables
- Inventory
- Payables and expenses
- Fixed assets
- Coffee break
- Fixed assets (continued)
- Cash
- Exercise: Audit programme
Day 4
Analytics and Sampling
- Analytical procedures
- Audit sampling
- Data analytics
- Estimates
- Coffee break
- Estimates (continued)
- Related parties
- Lab: Analytical review
Day 5
Completion and Reporting
- Evaluating misstatements
- Subsequent events
- Going concern
- Coffee break
- Going concern (continued)
- Audit reports
- Communication with management
- Capstone: Audit completion review
FAQ
Frequently asked questions
What does Financial Audit: Planning, Execution and Reporting (AGRC-024) cover?
This course covers Auditing and Governance Risk and Compliance through a structured five-day outline focused on practical application, discussion, and implementation planning.
When is the next available session?
The next scheduled session starts on 16 - 20 November 2026. See the course schedules section for the available dates and delivery formats.
Who should attend this course?
External and internal auditors, Audit managers and seniors, Finance controllers
Is bilingual course delivery available?
Yes. All course materials and presentations are provided in English, while bilingual explanation and discussion support may be available depending on the selected location and trainer availability. For example, when attending a course in Istanbul, you may request a Turkish-speaking trainer to explain the English course content in Turkish. Arabic explanation support may also be requested at this location. Other languages are available in selected cities. You can choose your preferred language support as an optional preference during registration.
How can I register for a session?
Use any Register button next to the available course dates to open the participant registration page and submit your booking request for the selected session.
Is this course available online as well as classroom-based?
Check the course schedules section for currently published classroom and Online / Live sessions.
Where are classroom sessions delivered?
Current classroom venues include Istanbul, Vienna, London, Munich, Amsterdam, Rome.
How long is the training programme?
The programme runs for five days from 09:00 to 14:00, which gives 25 contact hours, including a daily 30-minute break (22.5 hours of instruction).
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