Certification Course Audit MasterClass by CA Archit Agarwal
Session Plan
- Purpose of Audit and Financial Statements
- Flow of Audit in 6 Steps
- Walkthrough and Control Testing
- Audit Materiality and Performance Materiality Calculation
- Dive into the world of built-in MS Excel functions.
- Learn essential MS Excel skills including Importing text file to excel, text to column function, basic navigation & formatting, Paste Special commands,
- Absolute referencing, relative referencing, logical functions, Filtering & use cases, Linking, Tracing Dependents & Precedents, Transpose function
- Learn range of tools including Move and Copy, Duplicate Values, Concatenate, VLOOKUP, and Pivot Tables for multi-dimension analysis, Pareto Analysis.
- Create various charts such as bar graphs, histograms, pie charts, Line Diagrams, 2 Variable Charts etc.
- Learn Advance MS Excel features like: PV calculation, Goal Seek, Scrollers, Macros,
- Power Query, Power Pivot, Subtotal, Sum if, Count if, Index & Match function
- Hlookup, Xlookup, Data validation, Conditional Formatting, Nested If, Slicers etc.
- Create dynamic excel dashboard using Bar chart, Histogram, Line Diagram, Pie Chart & Slicers
- Converting Raw Data to Excel using Chat GPT and AI, Data Structuring and Cleaning using AI, Variance and Ratio Analysis using AI
- Creating MIS Reports through AI, Understand Complex Formulas with AI
- Combining Multiple Sheets using Power Query and AI, Using Power Bi to automate work and Pull Data from Web
- Creating Macros and Custom Formulas through AI and Embedding them Permanently for Automation
- Overview and Components of Cash & Cash Equivalents (CCE)
- Directional Risk, Assertions, Walkthrough of Cash & Cash Equivalents, Risk of Material Misstatement (ROMM) and Control Testing of CCE
- Satyam Case Study- The Financial Fraud that shook India Inc.
- Substantive Testing- Bank and BRS Testing, Fixed Deposits, Testing Marketable Securities etc.
- Overview and Components of Expenses
- Directional Risk, Assertions, Walkthrough Analysis, Risk of Material Misstatement (ROMM) and Control Testing of Expenses
- Analytical Testing Procedures and Ageing Analysis of Expenses and Creditors
- Propriety Testing of Business Expenses
- Substantive Testing of Operating Expenses- Traveling Expenses, Legal & Professional Expenses, Repairs & Maintenance etc.
- Overview and Components of Revenue
- Directional Risk, Assertions, Walkthrough Analysis, Risk of Material Misstatement (ROMM) and Control Testing of Revenue and Debtors
- IND AS 115 and Revenue Recognition Case Studies
- Credit Notes and Sales Returns
- Test of Details and Analytical Procedures on Sales Registers, Contracts, Invoices, Debtor Ageings, Confirmations etc.
- Overview and Components of Property, Plant and Equipment (PPE)
- Directional Risk, Assertions, Walkthrough Analysis, Risk of Material Misstatement (ROMM) and Control Testing of Fixed Assets, Inventory and Share Capital
- FAR to FA Schedule to GL - 3 Way Match
- Test of Details and Analytical Testing of FA Additions, Deletions, Depreciation Recalculation, Title Deeds etc.
- Physical Verification and Valuation of Inventory- Floor to Sheet and Sheet to Floor Testing, Case Studies of Inventory Frauds
- Share Capital Testing from ROC Verification
- Overview and Components of Payroll Expense
- Directional Risk, Assertions, Walkthrough Analysis, Risk of Material Misstatement (ROMM) and Control Testing of Payroll
- Detecting Ghost (Fake) Employees, Case Study of Manpasand Beverages
- Substantive Procedures- Payroll Register and Attendance Verification, Head Count and Test of Details, Additions, Deletions, Salary Analytical, Actuarial Testing etc.
- Overview and Components of Borrowings and Interest Expense
- Directional Risk, Assertions, Walkthrough Analysis, Risk of Material Misstatement (ROMM) and Control Testing of Borrowings and Finance Cost
- Loan Agreement and Covenant Testing
- Substantive Testing- Verifying Loan Amortisation Schedules and Repayments, Interest Expense and Outstanding Interest Computation, Confirmations, Loan Reco., Convertible Instruments etc.
- Prepaid Expenses and Amortisation Schedules Recalculation and Verification, Impairment Indicators and Testing
- Provisions for Expenses - Conditions for Recognising Provisions, Checking Estimates, Movements and Balances for
- Substantive Testing
- Verification of Security Deposits from Agreements, Confirmations and Party-wise Schedules
- Statutory Dues Verification
- PNB Nirav Modi Case Study and Contingent Liabilities Checking
- Capital Commitments & Off- Balancesheet Items Verification
- Checking Secretarial Records and JV Testing
- Analytical Procedures at Financial Statements Level
- Variance Analysis and Ratio Analysis
- Reasonablesness Testing and Sense Check
- Deep Dive into Abnormalities & Unusual Variances
- HUL Case Study
- Learning Top- Down Audit Testing Approach
- Identification of Diversion of Funds and Siphon Off Cases
- Checking Vendor Kick Backs
- Creating Audit Report with KAM and other Paras
- Types of Audit Opinions
- CARO and Internal Financial Controls (IFC) Reporting
- Latest CARO and Schedule III Reporting Requirements
- Learning RCM (Risk Control Matrix)
- Types of Loan Facilities
- Types of Bank Audit
- IRAC Norms of RBI
- NPA Testing of Term Loans, Cash Credits etc.
- DP Calculation from Stock Statements and Other Bank Audit Aspects
- IND AS 109- Discounting and Fair Value Computation Practically
- Trade Receivables - Expected Credit Loss Matrix Calculation
- IND AS 116- Leases Computation and Accounting
- ROU and Lease Liability Recognition and Amortisation
- Preparation of Complete IND AS Financial Statements in Excel for Listed Entities
- Preparation of Profit & Loss, Balance Sheet, Cash Flow Statements, Notes to Accounts with Explanatory Information from Trial Balance and Formatting as per Latest Schedule III
- Disclosure Requirements and Notes to Accounts as per respective IND AS
- Revision of Complete Course Module
- IL&FS Case Study
- Interview Guidance and Resume Formation
- Certificate of Completion
- Revision Manual and Interview Guidebook
- MCQs Based Exam Online - Practical Exam based on Course Module
Meet Your Instructor
CA Archit Agarwal
Archit is a former Deloitte professional with 10+ years of experience, founder Thinking Bridge and who has trained over 60,000+ learners in finance domains like Statutory Audit. As a partner at a leading New Delhi firm, he has led audits and consulting for listed companies, top banks, and PSUs. A specialist trainer in Statutory Audit. As a partner at a leading New Delhi firm, he has led audits and consulting for listed companies, top banks, and PSUs. A specialist trainer in Statutory Audit.
Video Content
35 Hours
Medium
Hinglish
Validity: 4 Months Access
Views:
2 Times
Mode:
Online Video
₹ 2999
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