This is a specialized course designed to deepen the practical and strategic capabilities of audit professionals in planning complex audit engagements. Building on core audit principles, the course explores risk-based planning, materiality assessments, group audit considerations, and the integration of business risks into financial audit strategy. Using real-world scenarios and case-based discussions, participants will gain insight into identifying key planning issues, evaluating component auditors, addressing going concern risks, and applying professional skepticism. This course is ideal for auditors seeking to elevate the quality and effectiveness of their audit engagements through advanced, structured planning approaches.

Unlock learning anytime, anywhere with the Blackboard Learn app

Seamlessly access your on demand courses, assignments, and get PD hours on the go. Learn how to download now and elevate your education experience with the convenience of mobile learning.

Upon completion of this course, learners will be able to:

• Understand the Structure and Purpose of Advanced Audit Planning: Interpret the requirements of ISA 300 and related standards during the planning phase; Explain the role of planning documentation and scheduling in audit efficiency; Distinguish between audit planning for single entities and complex groups.
• Assess and Apply Risk and Materiality Judgements: Set materiality levels using appropriate benchmarks and judgment; Identify inherent, control, and detection risks in diverse audit environments; Adjust materiality in response to evolving audit risks.
• Evaluate Business Risks and Their Audit Implications: Identify operational, financial, and compliance risks from client data; Explain how business risks influence the financial statement audit; Link business risks to specific audit assertions and testing areas.
• Plan and Execute Group Audit Engagements: Assess the role and quality of component auditors; Develop strategies for auditing intercompany balances and consolidation adjustments; Evaluate materiality across components and group-level thresholds.
• Apply Professional Skepticism in Complex Audit Planning: Identify situations requiring deeper questioning or alternative evidence; Plan audit responses when management bias or aggressive accounting practices are suspected; Adjust audit strategy based on behavioral red flags.