International Financial Reporting Standards (IFRS) and (GAAP) for financial audit professionals in

The Global Financial Reporting Standards (IFRS) and (GAAP) training course is designed to provide Financial Auditing Specialists with a comprehensive understanding of the principles and practices of financial reporting under International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP). This course will equip participants with the necessary skills and knowledge to understand and apply the global financial reporting standards in the auditing of financial statements.

Objectives

The objectives of this training course are to:

Provide an overview of IFRS and GAAP and their importance in financial reporting
Develop an understanding of the principles and practices of financial reporting under IFRS and GAAP
Provide an understanding of the differences between IFRS and GAAP
Develop the necessary skills to apply IFRS and GAAP in the auditing of financial statements
Develop effective communication skills in reporting findings related to IFRS and GAAP

Who Should Attend this Course

This training course is designed for Financial Auditing Specialists, Internal Auditors, External Auditors, and anyone who is interested in learning about global financial reporting standards. It is also suitable for financial managers, accountants, and other finance professionals who want to understand the principles and practices of IFRS and GAAP.

Outline for 5 Days

Day 1: Introduction to IFRS and GAAP

Overview of IFRS and GAAP
Importance of IFRS and GAAP in financial reporting
Key principles of IFRS and GAAP
Regulatory environment and IFRS and GAAP
Day 2: Financial Reporting under IFRS

Principles of financial reporting under IFRS
Statement of financial position under IFRS
Statement of comprehensive income under IFRS
Statement of cash flows under IFRS
IFRS financial statement notes and disclosures
Day 3: Financial Reporting under GAAP

Principles of financial reporting under GAAP
Statement of financial position under GAAP
Statement of comprehensive income under GAAP
Statement of cash flows under GAAP
GAAP financial statement notes and disclosures
Day 4: Applying IFRS and GAAP in the Audit of Financial Statements

Applying IFRS and GAAP in the audit of financial statements
Understanding the differences between IFRS and GAAP
Assessing the impact of IFRS and GAAP on financial statements
Identifying and evaluating financial statement risks under IFRS and GAAP
Analytical procedures in financial statement auditing under IFRS and GAAP
Day 5: Communicating Findings related to IFRS and GAAP

Communicating findings related to IFRS and GAAP effectively
Writing audit reports for financial statements prepared under IFRS and GAAP
Communicating the impact of IFRS and GAAP on financial statements to stakeholders
Reporting on internal control weaknesses related to IFRS and GAAP
Audit recommendations related to IFRS and GAAP

Outputs

At the end of this training course, participants will have:

A comprehensive understanding of IFRS and GAAP and their importance in financial reporting
An understanding of the principles and practices of financial reporting under IFRS and GAAP
The ability to apply IFRS and GAAP in the auditing of financial statements
The ability to communicate findings related to IFR.

Throughout the course, participants will have the opportunity to work on practical exercises and case studies to apply the concepts and skills they have learned. The course will also include interactive discussions and opportunities for participants to share their experiences and insights.