Overview:

Partners / directors need to be aware of the quality management requirements of ISQM 1, ISQM 2 and ISA 220 (Revised), and how to implement it within their own firms. It is important to be aware of each other’s duties and how they fit into the big picture. Even just one quality incident can be very costly to the firm.

This training will give participants a practical understanding of the quality management requirements and what their responsibilities are in implementing these requirements. 

Content and outline:

To explain the following concepts:

• The firm’s risk assessment process

• Governance and leadership

• Relevant ethical requirements

• Acceptance and continuance 

• Resources 

• Information and communication

• Engagement performance

• Monitoring and remediation

• Documentation

Certification: 

Upon completion of the training, participants will receive a verifiable attendance certificate.

Overview:

Ethics plays a fundamental role in acting in the public interest and delivering quality audit services. Ethics also forms an integral part of the audit profession’s code of conduct and requires proper knowledge by all participants in the profession.

Auditors can only apply an appropriate level of professional scepticism during audits, if they are independent. It is, therefore, crucial for auditors to always be aware of the latest changes in the ethics landscape, and understand how to apply relevant ethical requirements in practice.

This webinar will give participants a practical understanding of the latest ethical requirements and principles, and appropriate documentation through discussion of practical examples.

Content and outline:

To explain the following concepts and demonstrate their practical application:

·        Ethics ground rules

·        Latest pronouncements

·        How to identify, evaluate and address threats

·        Practising the correct implementation of requirements through discussion of practical scenarios

·        Individual reflection.

Certification:

Upon completion of the course, participants will receive a verifiable attendance certificate.

Overview:

To formulate an appropriate audit approach, the auditor needs to get a proper knowledge of the business first. This involves performing risk assessment procedures and includes obtaining a proper understanding and evaluation of internal control. If these important steps are well understood and thoroughly performed, all relevant risks can be identified and appropriately assessed to inform the audit approach. Once this is in place, it is important to keep key principles in mind to ensure working paper efficiency throughout the audit.

This quest will give participants a practical understanding of how to formulate an appropriate and efficient audit approach and how to achieve working paper efficiency.

Content and outline:

To explain the following concepts and demonstrate practical application thereof:

• The face of audit
• Planning
• Risk assessment
• Controls
• Audit approach
• Fieldwork
• Completion and reporting
• Working papers

Risk identification and assessment can either make or break an audit. If not done properly, the entire audit effort may be misdirected and critical misstatements may be missed entirely. This process starts from gathering a proper understanding of the entity and its environment. It is critical to link this correctly to its potential impact on the audit assertions. Let us show you practically how to navigate this risk assessment process as efficiently and effectively as possible:

Enroll in the Audit Basics Course, complete each lesson and pass the final quiz to complete the course.

Certification:

Upon completion of each quest, the learner will receive a verifiable Blue LEAF Certificate.

Overview:

Performing an audit of a legal practitioner trust account can be quite challenging because of the highly regulated environment, tight deadlines, and low budgets. While audit efficiency is key, auditors still need to apply the basic auditing principles when performing these engagements and documenting work. Understanding the relevant laws and regulations and required procedures is the starting point but developing and implementing an efficient yet fully compliant methodology is equally important to ensuring the quality of each engagement file. 

This course will give participants a practical understanding of key requirements relating to legal practitioner trust accounts, how to approach these assurance engagements efficiently, and appropriate documentation in audit working papers.

Content and outline:

To explain the following concepts and demonstrate practical application thereof:

• Laws and regulations applicable to audit of legal practitioner trust accounts

• Practical approach to auditing legal practitioner trust accounts

• Common working paper deficiencies

Certification:

Upon completion of the quest, learners will receive a verifiable Silver LEAF Certificate.

The "Body Corporates" course is designed to equip auditors with the essential skills and knowledge to conduct audits in the highly regulated environment of body corporates. Participants will learn to navigate relevant laws and regulations, create efficient audit methodologies, and ensure full compliance while maintaining quality under tight deadlines. Through practical examples, this course covers the necessary steps to develop a robust audit approach, address common working paper issues, and apply industry best practices. Upon completion, participants receive a verifiable LEAF Silver attendance certificate, showcasing their commitment to excellence in auditing body corporates.

Overview:

The evaluation of internal controls and the documentation thereof, and the conclusions reached are key components of the risk assessment process during planning of the audit. The communication with the client and the analysis of the systems of internal control is as valuable in achieving proper knowledge of the business and identifying areas of risk and fraud risk. 

A proper understanding of internal control may lead to the identification of areas where reliance may be placed on controls and contribute to a more efficient audit.

Regulatory and monitoring experience in the profession has shown that the most findings relate to basic concepts of internal control. 

This training will give participants a practical understanding of the basics of internal control and its documentation. In this training session (Part 1) the reason why auditors need to obtain an understanding of internal control, and the different aspects of controls that the auditor should obtain an understanding of are explained.

Content and outline:

To explain the following concepts and demonstrate practical application thereof:

• The audit process and risk

• Key requirements and principles relating to internal control

• Evaluation of internal controls

• Documentation of internal controls

• Common working paper deficiencies

Certification:

Upon completion of the training, participants will receive a verifiable LEAF Bronze Certificate.

Overview:

The evaluation of internal controls and the documentation thereof, and the conclusions reached are key components of the risk assessment process during planning of the audit. The communication with the client and the analysis of the systems of internal control is as valuable in achieving proper knowledge of the business and identifying areas of risk and fraud risk. 

A proper understanding of internal control may lead to the identification of areas where reliance may be placed on controls and contribute to a more efficient audit.

Regulatory and monitoring experience in the profession has shown that the most findings relate to basic concepts of internal control. 

This training will give participants a practical understanding of the basics of internal control and its documentation. In this training session (Part 2) the internal control documentation requirements, example working papers to illustrate these concepts, and common errors found in audit files are discussed.

Content and outline:

To explain the following concepts and demonstrate practical application thereof:

• The audit process and risk

• Key requirements and principles relating to internal control

• Evaluation of internal controls

• Documentation of internal controls

• Common working paper deficiencies

Certification:

Upon completion of the training, participants will receive a verifiable LEAF Bronze certificate.

Overview:

Many auditors underestimate the importance of obtaining a proper understanding of the entity, the system of internal control, and the relevant financial reporting framework, through the performance of risk assessment procedures. If properly done, it facilitates the risk assessment at financial statement and assertion level and assists with the formulation of an appropriate and efficient audit approach. With ISA 315 (Revised 2019) coming into effect for audits of financial statements for periods beginning on or after 15 December 2021, concepts in the existing standards have been expanded, and new concepts have been introduced in the risk assessment process. It is critical for auditors to understand the concepts addressed in this new standard, and to amend their existing risk assessment processes and methodologies accordingly.

This training will give participants a practical understanding of key requirements relating to ISA 315 (Revised 2019), how to implement them during the audit, and appropriate documentation in audit working papers. In this training session (Part 1) we will explain the risk assessment procedures, and the different areas that an understanding should be obtained of, and discuss the identification and assessment of risk of material misstatement at financial statement level.

Content and outline:

To explain the following concepts and demonstrate their practical application:

• Key concepts and requirements from ISA 315 (Revised 2019), addressing evidence, bias, business knowledge, governance and control system components

• Controls as part of risk assessment

• Risk assessment at financial statement level

• Risk assessment at assertion level

• Relevant assertions

• Significant classes of transactions, account balances or disclosures

• Material classes of transactions, account balances or disclosures that are not significant

• Discussing the correct implementation of requirements in audit working papers.

Certification:

Upon completion of the training, participants will receive a verifiable LEAF Bronze certificate.

Overview:

Many auditors underestimate the importance of obtaining a proper understanding of the entity, the system of internal control, and the relevant financial reporting framework, through the performance of risk assessment procedures. If properly done, it facilitates the risk assessment at financial statement and assertion level and assists with the formulation of an appropriate and efficient audit approach. With ISA 315 (Revised 2019) coming into effect for audits of financial statements for periods beginning on or after 15 December 2021, concepts in the existing standards have been expanded, and new concepts have been introduced in the risk assessment process. It is critical for auditors to understand the concepts addressed in this new standard, and to amend their existing risk assessment processes and methodologies accordingly.

This training will give participants a practical understanding of key requirements relating to ISA 315 (Revised 2019), how to implement them during the audit, and appropriate documentation in audit working papers. In this training session (Part 2), we will discuss identification and assessment of the risks of material misstatement at the assertion level, relevant assertions, significant classes of transactions, balances and disclosures, evaluation and revision of risk assessment, and documentation required.

Content and outline:

To explain the following concepts and demonstrate their practical application:

• Key concepts and requirements from ISA 315 (Revised 2019), addressing evidence, bias, business knowledge, governance and control system components
• Controls as part of risk assessment
• Risk assessment at financial statement level
• Risk assessment at assertion level
• Relevant assertions
• Significant classes of transactions, account balances or disclosures
• Material classes of transactions, account balances or disclosures that are not significant
• Discussing the correct implementation of requirements in audit working papers.

This quest works best if you've completed Risk Assessment Part 1

Certification:

Upon completion of the training, participants will receive a verifiable LEAF Bronze certificate.

Overview:

Many auditors feel intimidated by IFRS and are uncertain about how to verify compliance with the international financial reporting standards. Others are more familiar with the IFRS requirements, but omit to document their considerations when verifying compliance.

It is crucial for auditors to understand the requirements of the relevant financial reporting standards and have a sound knowledge of the business of the entity. This will enable them to adapt the interpretation of the IFRS standards to the circumstances of the entity during execution of the basic steps, and verify compliance appropriately.

The best method is to develop a standard approach on how to audit the requirements of the financial reporting framework, and then adapt this approach to the circumstances of the individual entity.

This training will give participants a practical understanding of how to audit compliance with IFRS requirements, and how to document everything in audit working papers. Participants will learn how to implement these requirements and principles through discussion of practical examples.

Content and outline:

To explain the following concepts and demonstrate their practical application:

• Important principles for auditing IFRS requirements
• How to interpret key requirements from financial reporting frameworks
• Evaluating financial statement disclosures
• Cash flow statements
• Common working paper deficiencies
• Practical application and documentation of required audit procedures.

Certification:

Upon completion of the training, participants will receive a verifiable LEAF Bronze certificate.

Start Your Journey with Comprehensive Audit Training

Starting a career in auditing is both an exciting and challenging step. Our Audit Induction Training - Trainees course is designed to provide new trainees with the foundational knowledge, practical skills, and confidence needed to excel in the profession.

What You Will Learn

Gain Essential Skills and Knowledge

This course covers:

• Audit Basics: Understand the fundamental principles of auditing.
• Audit Working Papers: Learn how to document audits efficiently and effectively.
• Quality Control and Ethics: Gain insights into maintaining high standards and ethical practices.
• Excel Basics: Acquire practical skills in Excel, tailored for auditing needs.
• Practical Case Study: Apply your learning to real-world auditing scenarios.

Why Choose This Course?

Establish the Right Foundations for Success

• Develop a positive and professional mindset to tackle workplace challenges.
• Gain practical insights through interactive discussions and real-life examples.
• Learn how to use technology efficiently to enhance audit processes.

Certification

Earn Your LEAF Blue Certificate

On successful completion of the training, participants will receive a verifiable LEAF Blue certificate, showcasing their readiness to excel in the auditing profession.

Begin Your Training Today!

Are you ready to establish a strong foundation for your auditing career?

👉 Start Today

 Overview:

Auditors are required to perform audit work in the most efficient and effective way. The circumstances of a client may sometimes make substantive analytical procedures more efficient than substantive tests of detail. Planning analytical review procedures should not be confused with substantive analytical procedures. Learning how to harness the power of effective and focused analytical review procedures during planning and fieldwork can enhance efficiency and effectiveness.

This training will give participants a practical understanding of the different types of analytical review procedures, and how to apply it in practice.

Content and outline:

To explain the following concepts and discuss their practical application:

•                    Purpose of analytical procedures

•                    Types of analytical procedures

•                    How to perform planning analytical procedures

•                    How to perform substantive analytical procedures

•                    Practical examples

•                    Common errors

Certification:

Upon completion participants will receive a Bronze LEAF Certificate.

Working paper content

Overview:

The documentation requirements of ISA230 are the most important requirements enforced by audit regulators across the world. Compliance with auditing standards is not possible, should documentation of audit procedures and audit evidence fail.

This training will give participants a practical understanding of working paper content, and how to prepare audit documentation, taking into account all relevant considerations. 

Content and outline:

To explain the following concepts and discuss their practical application:

·        Documentation requirements

·        Preparation

·        Audit procedures

·        Finalisation

Certification:

Upon completion of the quest, you will receive a verifiable LEAF Blue attendance certificate.

Determining the right audit approach is a critical skill for auditors. With evolving auditing standards and varying engagement circumstances, auditors must develop an approach that balances efficiency and compliance. This course provides a practical framework for designing an audit approach tailored to the entity being audited.

Through expert-led training, participants will gain a clear understanding of the key considerations in audit planning and execution, ensuring a seamless and high-quality audit process.

What You’ll Learn

This training will cover essential principles of formulating an effective audit approach, including:

✔ Report and Evidence – Understanding the link between audit evidence and reporting.

✔ Risk Assessment – Identifying, evaluating, and addressing risks effectively.

✔ Response to Risk – Implementing appropriate audit responses based on assessed risks.

Who Should Attend?

• Auditors and assurance professionals seeking to refine their audit planning skills.
• Accounting professionals looking to enhance their knowledge of audit methodologies.
• Anyone involved in designing and executing audit engagements.

Certification

Upon completion of this training, participants will receive a verifiable Silver LEAF certificate, enhancing their professional credentials.

Why Choose This Course?

✔ Practical Application – Learn real-world strategies for audit planning and execution.

✔ Expert Guidance – Gain insights from industry professionals with extensive experience.

✔ Career Advancement – Strengthen your audit proficiency and professional standing.

✔ Personalised 1:1 Coaching with LEAF – Receive direct guidance and expert feedback tailored to your audit challenges, ensuring you apply best practices with confidence.

✔ Exclusive Professional Community – Connect with auditors and experts in a private forum to exchange insights, seek advice, and stay updated on best practices.

Get Started Today!

Take control of your audit process and ensure compliance, efficiency, and quality in every engagement.

Elevate your audit approach!

Overview

Audit planning is a critical phase of the audit process, setting the foundation for a thorough and efficient engagement. A well-structured plan ensures that risks of material misstatement are properly identified and addressed, ultimately shaping the audit approach. Regulatory reviews have highlighted that many audit deficiencies stem from weaknesses in understanding the entity and assessing risk—reinforcing the importance of effective planning.

While internal control and risk assessment are covered in separate courses, this training focuses on the other crucial aspects of audit planning, aligning with various professional standards. Participants will develop the professional judgment needed to tailor planning procedures to an entity’s unique circumstances, ensuring compliance and efficiency.

What You’ll Learn

Gain a practical understanding of essential audit planning procedures, including:

✔ Partner Responsibilities – Understanding leadership roles and quality control obligations.

✔ Preliminary Activities – Establishing key groundwork before engagement commencement.

✔ Planning Activities – Identifying and performing essential planning procedures to guide audit execution.

Who Should Attend?

• Auditors and assurance professionals looking to strengthen their audit planning process.
• Accounting and finance professionals involved in audit engagements.
• Anyone seeking to improve their understanding of audit procedures and documentation.

Certification

Upon completion of this training, participants will receive a verifiable Bronze LEAF Certificate, demonstrating their expertise in audit planning.

Why Choose This Course?

• Comprehensive Guidance – Learn the key planning procedures crucial to audit success.
• Expert Insights – Gain knowledge from experienced professionals in the field.
• Practical Application – Develop judgment skills to adapt planning activities to different entities.
• 1:1 Coaching with LEAF – Receive personalised feedback and support from audit experts.
• Exclusive Community Access – Connect with professionals, exchange ideas, and get answers to your questions.

Get Started Today!

Master the principles of audit planning, procedures, and documentation to ensure your audits are structured, effective, and compliant.

Register now and take your audit planning to the next level!

Audit quality isn’t just about compliance—it’s about teamwork. Every manager and staff member plays a critical role in maintaining audit excellence. With just one misstep, the cost can be high.

That’s why LEAFQuest’s "Audit Quality Systems – Staff Responsibilities" is designed to give you a clear, practical understanding of your responsibilities under ISQM 1, ISQM 2, and ISA 220 (Revised). Learn how to implement these standards within your firm and ensure audit quality at every level.

What You’ll Learn:

✔ Your role in the firm’s risk assessment process

✔ Key quality management requirements & ethical considerations

✔ How governance, leadership, and resources impact audit quality

✔ Practical steps for monitoring, documentation, and remediation

LEAF Monthly Members – this quest is included in your package! Not a member? No problem—you can still access this essential training.

Start Your Quest Now

Audit smarter, work with confidence, and protect your firm’s reputation! 🚀

Stay ahead in the evolving landscape of quality management with this essential training on the IAASB’s latest quality management standards.

In December 2020, the IAASB introduced ISQM 1, ISQM 2, and ISA 220 (Revised) to enhance the effectiveness of quality management in firms using IAASB’s standards. These changes mark a shift from traditional quality control to a more dynamic, risk-based approach to quality management. With these standards becoming effective on 15 December 2022, it is crucial for professionals to understand and implement them effectively.

What You’ll Learn:

This training provides a comprehensive overview of the new quality management framework, covering:

✔ Introduction to the new standards – Understanding the rationale behind the changes

✔ Quality management at firm level – Implementing a robust system within your organization

✔ Engagement quality reviews – Enhancing the effectiveness of engagement-level reviews

✔ Quality management at engagement level – Applying quality principles to individual engagements

Certification:

Upon successful completion, participants will earn a verifiable Silver LEAF Certificate, demonstrating their proficiency in the new quality management standards.

Take this opportunity to enhance your expertise and stay compliant with the latest quality management requirements!

Overview:

When performing group audits, irrespective of whether the same firm is auditing the whole group, group auditors tend to discuss planning considerations and group audit arrangements, but not to document them at the start of the audit. The focus also seems to be on consolidation issues, rather than group risk. This is a dangerous approach which could result in important aspects being missed when consolidating the various components or subsidiaries. It also increases the risk of material misstatement at group level going undetected and the audit report on the consolidated financial statements being inappropriate under the circumstances. Furthermore, auditors often neglect to document audit procedures performed on detailed consolidation processes, over and above the accounting workings.

This course provides a practical understanding of key requirements relating to group audits, and how to approach these engagements appropriately and in an efficient manner. Participants will learn how to apply these requirements and principles in practice through discussion of practical examples.

Content and outline:

To explain the following concepts and demonstrate their practical application:

• ISA 600 requirements for audits of group financial statements, including

- Quality considerations

- Risk considerations

- Procedures

• Joint auditors

• Group instructions

• Consolidation workings

• Common working paper deficiencies

Certification:

Upon completion of the course, participants will receive a verifiable Bronze LEAF certificate.

Performing an audit of a property practitioner can be challenging because of the highly regulated environment, tight deadlines and low budgets. Due to the pressure to perform efficient audits, many auditors overlook certain areas that are relevant to property practitioners. Omitting to document considerations regarding service organisations can prove to have far-reaching consequences when it comes to audit quality.

This training will give participants a practical understanding of key requirements and considerations relating to property practitioner audits, and how to approach these engagements efficiently. 

Content and outline

Explanation of the following concepts and demonstration of their practical application:

• Latest changes in legislation

• Audit approach

• Reliance on service organisations

• Managing agents

• Common working paper deficiencies.

Certification:

Upon completion of each workshop, participants will receive a verifiable Silver LEAF certificate.