2. Auditing and Statutory Compliance

(Key areas required for practising certificate marked *)

2.1   Audit Planning

  • Collection and preparation of relevant data for the purpose of audit planning
  • Planning and allocation of resources to meet audit objectives
  • Design and preparation of audit programmes and working schedules
  • Compilation of material to assist the external audit

2.2   Audit Testing

  • Recording and documenting evidence as required by the audit programme*
  • Monitoring and maintaining the recording and storage of evidence in line with audit requirements
  • Verification and evaluation of financial accounting systems*
  • Review of financial statements, including post-balance sheet events*
  • Ensuring completeness and accuracy of audit trail*
  • Evaluation of systems of internal control
  • Conducting internal investigations
  • Evaluating control features of proposed systems*
2.3   Reporting
  • Advising on internal control procedures*
  • Preparing and presenting reports to management*
  • Preparation of formal audit reports audit reports in compliance with relevant accounting standards and guidelines and Companies Legislation*
  • Risk Management*
  • Liaising with external auditors
2.4   Statutory Compliance
  • Preparation and completion of:
           - Statutory Annual Returns
           - Abridged financial statements
           - Formation of a Company
           - Maintenance of Statutory Company Registers
           - Maintenance of Minute Books
  • Preparation of Returns for the Central Statistics Office*
2.5   Liquidations (Members or Creditors voluntary winding up)
  • Debtors Reports*
  • Creditors Reports and Meetings*
  • Redundancy Claims*
  • Preparation and Completion of*:
            - Liquidator’s Account of his/her Acts and Dealings (Form E3)
            - Liquidator’s statement of proceeding and the position of the winding up (Form E4)
            - Liquidator’s Final Statement of Accounts (Form E5)
  • Receiverships: Preparation and maintenance of receivers accounts*.