Educational Seminar No. 02/2014
Two-day Seminar Practical guide to Audit Compliance for Auditors
Cleopatra Hotel, Nicosia Tuesday and Wednesday, 11 and 12, March 2014 9:00 – 17:00
St Raphael Hotel, Limassol Thursday and Friday, 13 and 14, March 2014 9:00 – 17:00 The Education Committee of The Institute of Certified Public Accountants of Cyprus (ICPAC) with pleasure invites you to a seminar with the title:
Practical guide to audit compliance for auditors
Purpose
This two day course has been designed to help participants prepare their practices for ICPAC audit monitoring visits. The most common causes of unsatisfactory monitoring visit outcomes will be identified and discussed during the course. Participants will learn how to undertake audits and to record audit work in a manner consistent with the requirements of International Standards of Auditing and which will consequently meet ACCA/ICPAC monitoring visit requirements. The course will involve case study examples.
Who should attend
The seminar is addressed to all members of ICPAC who are currently practicing auditors with at least 2 years of experience as well as any other interested individuals.
Speakers
Mr Michael Scott FCA FCCA Director – PCP
Mr Michael Scott is a fellow of the Institute of Chartered Accountants of Ireland and of ACCA. He specialises in audit compliance and regulatory training and has extensive experience in this field having spent a number of years with the ACCA’s Practice Monitoring Department conducting audit regulatory visits to a range of practices. Michael lectures regularly throughout the world and is particularly involved in the international operations of the company. He has undertaken audit workshops for professional bodies in the UK, Ireland, Cyprus, Malta, Trinidad, Barbados, Bahamas, Malawi and Botswana and has audit file review clients worldwide. Over the past seven years he has been working regularly with a number of firms in Cyprus to help them improve their audit compliance procedures and to prepare them for ICPAC monitoring visits.
Participation fees
Members €250 including VAT
The attached participation form duly completed together with the applicable fee must be received by ICPAC no later than Friday, 7 March 2014. Allocation of seats will be made on strict priority according to the application date, as the number of available places is limited.
Continuous Professional Development (CPD)
12 units for full attendance. In case of part attendance, the number of units will be adjusted accordingly.
Seminar coordinators
Akis Kolokotronis, Costas Constantinou – Nicosia Costas Tzerkezos, Pola Yiannopoulou - Limassol Seminar programme – 1st day 9:00 – 9:30 Registration & coffee
The regulatory process The Cyprus position 9:30 – 10:30 The methodology for improving your compliance procedures The impact of Clarity ISAs
10:30 – 11:00 The permanent file and understanding the business
11:00 – 11:20 Coffee break
The planning process - Independence 11:20 – 13:00 - Laws and regulations - Internal controls - Risk and materiality
13:00 – 14:00 Lunch break
The planning process continued 14:00 -14:30 - Fraud and error - Rigour and scepticism
- Identifying key areas 14:30 – 15:30 - Tailoring the audit programme - Recording audit evidence and the importance of good audit documentation
15:30 – 15:50 Coffee break
The audit of fixed assets The audit of expenditure Common problems and how to avoid them 15:50 – 16:45 Seminar programme – 2nd day 9:00 – 9:30 Registration & coffee
The audit of cash and bank 9:30 – 10:30 The audit of inventory
10:30 – 11:00 The audit of work in progress
11:00 – 11:20 Coffee break
The audit of receivables 11:20 – 13:00 The audit of payables The audit of international business companies
13:00 – 14:00 Lunch break
The audit of related parties 14:00 -14:45 The audit of income
Post balance sheet events 14:45 – 15:30 Going concern
15:30 – 15:50 Coffee break
Reviewing the file 15:50 – 16:30 Common problems and how to avoid them Over auditing
16:30 – 16.45 ISQC 1 Education Committee The Institute of Certified Public Accountants of Cyprus P.O.Box 24935, 1355 Nicosia Τel. 22 870 030, Fax. 22 766 360
Participation Form
Seminar 02/2014:
Practical guide to audit compliance for auditors
Cleopatra Hotel, Nicosia St. Rafael Hotel, Limassol 11 and 12 March 2014 13 and 14 March 2014 9:00 – 17:00 9:00 – 17:00
Name/Organisation:
Address:
Tel.: Fax:
Number of Fee € Participants (including VAT) Members @ € 250
Total Payable Amount
I wish to settle the above amount as follows: By payment through the ICPAC website (www.icpac.org.cy) – Seminar code: 02/2014 By cheque – Please attach the relevant cheque By credit card – Please complete the following: Credit card number: Expiry date:
Type of card: Visa Mastercard American Express Diners
Name of cardholder (if different from the above):
Signature of cardholder: Date:
* Please complete the attached list of participants. ** The participation form duly completed and signed together with the applicable fee must be received by ICPAC no later than Friday, 7 March 2014. *** The participation fees are not refundable for cancellations after 7 March 2014. Replacements are welcome at any time. Seminar 02/2014:
Practical guide to audit compliance for auditors
Cleopatra Hotel, Nicosia St. Rafael Hotel, Limassol 11 and 12 March 2014 13 and 14 March 2014 9:00 – 17:00 9:00 – 17:00
List of participants
1 = Nicosia Name Surname ICPAC No 2 = Limassol 1
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We hereby submit our application for participation to the above seminar, having read and consented to the terms and conditions as specified above.
Name of ...... authorised person:………………...... ……………. Signature:. Date: …….…..……