THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountants Act, Laws of Kenya)
ISA 500- Audit Evidence – Recording
Date: 4th May 2023
Time: 04.00pm-06.00pm
Venue: Online
Overview
The standard specifically states that the auditor should obtain sufficient and appropriate audit evidence to be able to draw reasonable conclusions on which to base the audit opinion. It explains what constitutes audit evidence in audits of financial statements and looks at the auditor’s responsibilities in obtaining appropriate audit evidence.
Evidence is anything that can make a person believe that a fact, proposition, or assertion is true or false. According to ISA 200 reasonable assurance is obtained when the auditor has obtained sufficient appropriate audit evidence to reduce audit risk to an acceptably low level.
The revised standard has addressed some of the below aspects in a bid to improve compliance: –
- Responding to changes in the information that is being used by auditors, including the nature and source of the information – relevance and reliability.
- Modernizing and supporting a principles-based standard that recognizes the evolution in technology – use of manual and automated tools.
- Fostering the maintenance of professional skepticism when making judgments about information to be used as audit evidence and sufficient appropriate audit evidence:
- Designing and performing audit procedures in a manner that is not biased.
- Evaluating the relevance and reliability of information intended to be used as audit evidence; and
- Considering all audit evidence to conclude whether sufficient appropriate audit evidence has been obtained.
During this training we will look at how to comply with ISA 500 requirements
Continuous Professional Development Units (CPD Units):
Members of ICPAK and reciprocating professional bodies will be awarded 1CPD Unit upon successfully attending each of the sessions.
Target Audience
This webinar will be useful to all professional Accountants and those aspiring to join the profession
Cost:
Charges for the training will be Kes 1,000/= which will cover workshop fees, materials, and e-certificates of attendance.
Online Booking:
We call on Seminar participants to note that booking for is available only online at www.icpak.com/events and will close two hours before the training session. Delegates are reminded to note that online booking for training sessions is mandatory. This is available either online at www.icpak.com/events or on the ICPAK Live – A smart phone-based application that is available from google store.
National Industrial Training Authority (NITA) Reimbursement:
The Institute is registered as a trainer with National Industrial Training Authority. The Institute’s registration number is DIT/TRN/47. Participants who are registered levy contributors should apply to NITA for reimbursement of their fees. Please note that this is applicable for Kenyan citizens only and subject to NITA regulations. Remember that to qualify you should apply to NITA for approval prior to the date of the conference. Further details can be obtained from their website (www.nita.go.ke)