Sub-category - Indepth Research Institute (IRES)

Financial Management and Auditing Course


Course Cover

Register for this course

We are proud to offer this course in a variety of training formats to suit your needs. We use the highest quality learning facilities to make sure your experience is as comfortable as possible. Our face to face calendar allows you to choose any classroom course of your choice to be delivered at any venue of your choice - offering you the ultimate in convenience and value for money.

November 2024

Date Duration Location Fee Action
18 Nov - 22 Nov 5 days Nairobi KES 60,000 | $ 699 Register

December 2024

Date Duration Location Fee Action
16 Dec - 20 Dec 5 days Nairobi KES 60,000 | $ 699 Register

Introduction

In this Financial Auditing course participants will learn how key business functions interact with accounting processes, particularly in risk management, as well as how technology impacts financial auditing. 

This course is designed for internal auditors and managers looking to increase their knowledge about financial reporting or simply needing a refresher in financial accounting. The module- based approach of this course promotes practical application through case study evaluation and discussion. Participants will gain experience calculating key ratios and analyzing trends over time as well as performing risk assessments and how to identify possible instances of fraud. 

Duration

5 Days

Who Should Attend

  • Auditors and Financial professionals responsible for ensuring transparency and integrity of processes and accounting records.
  • Bookkeepers and Accountants who are in charge of maintaining the books of account and day to day financial transactions pursuing promotion
  • NGO Staff

Course Level:

Course Objectives

  • Fundamentals of accounting practices and financial statement analysis.
  • An understanding of the accountant’s responsibility.
  • In-depth study of the procedures in fraud detection.

Accounting and auditing review

  • Define key accounting terms.
  • Understand accounting rules, equations, and basic principles.
  • Demonstrate how journal entries are used for accounting purposes.
  • Discuss the Financial Accounting Standards Board’s (FASB’s) GAAP hierarchy according to FASB Statement No. 162.
  • Perform a risk assessment using the financial auditing process.
  • Evaluate controls in the audit process by using finance-related management assertions.
  • Review an IIA Practice Guide about formulating and expressing internal audit opinions.

Financial statements — an overview

  • Review the characteristics of key financial statements.
  • Recognize the flow of information from source documents to financial statements.
  • Identify the components of a financial balance sheet.
  • Distinguish where in an income statement financial accounts should appear.
  • Calculate key ratios from a company’s financial statements.

Business processes and accounting

  • Differentiate between management-level reporting and consolidated financial statement-level reporting.
  • Analyze data using horizontal and vertical analysis.
  • Describe revenue process activities and associated rules.
  • Describe procurement process activities and associated rules.
  • Describe fixed asset process activities and associated rules.
  • Recall key revenue, liability, and inventory-related ratios.
  • Practice using a risk assessment template to analyze risks, and design and test controls.

Recipes for cooking the books

  • Identify the basic elements of an accounting scandal (fraud).
  • Identify the five most common financial “games.”
  • Calculate financial indices to use in analyzing data.

Technology and accounting

  • Discuss the risks and control breakdowns of User-developed Applications (UDAs) and best practices for controls over UDAs.
  • Describe how to minimize risk and limit exposure in using spreadsheets.
  • Discuss how Enterprise Resource Planning (ERP) supports and automates business processes.
  • Identify audit techniques to use in performing an application review of a financial audit

Fraud Prevention

  • Examining the existing internal control environment
  • Understanding the COSO Model (“Internal Control-Integrated Framework”)
    1. Control Environment
    2. Risk Assessment
    3. Control Activities
    4. Information & Communication
    5. Monitoring

Deterring Corporate Fraud

  • Identifying organizational tolerance to risk and improvement of internal controls
  • Formulating a critical fraud response strategy
  • Developing an anti-fraud program

Managing Donor Funding

Project start-up

  • Start-up costs
  • Start-up staffing
  • Communications to stakeholders

Implementation

  • Managing project budget and activities
  • Maintaining a good relationship with the donor
  • Ensuring strong internal controls

Project close Out

  • Closeout planning
  • Staffing
  • Sub award closeout
  • Final reports

Donor Audits

  • Preparing for an Audit
  • Areas of Audit Risk
  • Supporting & Managing the Audit
  • Corrective Action Plans 

Related Courses


Course Administration Details:

METHODOLOGY

The instructor-led trainings are delivered using a blended learning approach and comprise presentations, guided sessions of practical exercise, web-based tutorials, and group work. Our facilitators are seasoned industry experts with years of experience, working as professionals and trainers in these fields. All facilitation and course materials will be offered in English. The participants should be reasonably proficient in English.

ACCREDITATION

Upon successful completion of this training, participants will be issued an Indepth Research Institute (IRES) certificate certified by the National Industrial Training Authority (NITA).

TRAINING VENUE

The training will be held at IRES Training Centre. The course fee covers the course tuition, training materials, two break refreshments, and lunch. All participants will additionally cater to their travel expenses, visa application, insurance, and other personal expenses.

ACCOMMODATION AND AIRPORT PICKUP

Accommodation and airport pickup are arranged upon request. For reservations contact the Training Officer.

TAILOR-MADE

This training can also be customized to suit the needs of your institution upon request. You can have it delivered in our IRES Training Centre or at a convenient location. For further inquiries, please contact us on:

PAYMENT

Payment should be transferred to the IRES account through a bank on or before the start of the course. Send proof of payment to [email protected]

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Who else has taken this course?


# Job Title Organisation Country
1 NENG EDC INVESTMENT CORPORATION Cameroon
2 Accountant INDIVIDUAL Kenya
3 Self Employed Gambia
4 Senior Accountant HRMPEB Kenya
5 Self Namibia
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