Understand audit risk in Australia, including inherent risk, control risk and detection risk, and learn how auditors assess risks and gather sufficient evidence.
Understand audit materiality in Australia, including how auditors assess errors, disclosures, performance materiality and the potential effect on financial statements.
Understand who may need a financial statement audit in Australia, what the audit involves, what auditors examine and how businesses can prepare.
Understand what audit evidence is, the different types auditors use, what makes evidence sufficient and appropriate, and why reliable records matter during an Australian audit.
Understand the purpose of an external audit, how independent assurance supports financial reporting, and what Australian businesses should know about the audit process.
Learn the 7 common audit problems Australian businesses should address before an audit, including reconciliation issues, missing evidence, weak controls and reporting errors.
Discover which documents Australian businesses may need for an audit and how to organise financial records, supporting evidence and key business documentation before the audit begins.
Learn what an auditor looks for in an Australian business, from financial records and internal controls to supporting evidence, accounting estimates and audit preparation.