(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*.