Professional and technical competency is one of the corner stone of the audit profession. As adequate job knowledge is vital for any audit staff to perform their task effectively and efficiently, professional accounting bodies have made professional competency mandatory for its members. Auditing standards and auditing manuals have also provided guidance for auditors to perform their audit in a proper manner.
This session will focus on the auditing approach and techniques for auditing assets of an entity – comprising property, plant & equipment, inventories, investment properties, investments, receivables and impairment of assets. Key requirements of the accounting standards (MPERS) will also be covered as well as important areas for audit documentation.