Audit Training of Trainers

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3 Audit Training of Trainers 30 November 1 December 2015, World Bank Office, Vienna, Austria Context The first of a new series of Audit Training of Trainers (Audit ToT) workshops continues within the new EU-REPARIS program (please visit the program homepage on our website for more details: These workshops aim to develop the capacity of the audit profession to deliver high-quality training and provide continuing professional development programs based on International Standards on Auditing (ISA). The workshops focus in particular on the needs and challenges of Small and Medium Sized Audit Practices (SMPs) to implement ISAs, and help them to guide practitioners in the development of quality assurance procedures at the firm and engagement levels. Objective The two-day workshop is a kick-off event for the new cycle and will convene trainers from Professional Accounting Organizations (PAOs) and/or other organizations responsible for the design and delivery of continuing professional development (CPD) training programs for statutory auditors and audit firms. It will provide a forum for participants to reconnect, discuss current CPD challenges and available resources, discuss common solutions and provide feedback on the design of the new cycle of Audit ToT. Approach and format The approach and format of the Audit ToT workshops includes: A series of two-day training sessions aimed at developing the capacity of audit trainers to deliver high-quality training and CPD based on ISAs and, in particular, to assist the community of auditors of Small- and Medium-Sized Enterprises (i.e. the SMP Focus). Each workshop covers a module of the training program; Development of audit tools and solutions which can be used in actual practice. The integrated Audit Case Study and the Simulated Client File Templates are the core teaching resources; Facilitation of shared learning and peer exchange among the countries of the region and the members of the Community of Practice regarding the design, content, implementation arrangements, teaching and authorization environment for CPD, and linkages with the Initial Professional Development program. The approach and format are designed to be highly interactive. 1

4 Monday, 30 November 2015 Day 1 Agenda 08:15 Registration of participants and morning coffee 08:45 Welcome and Opening Remarks Speaker Henri Fortin Head of the Centre for Financial Reporting Reform (CFRR), The World Bank Welcome and opening remarks including the expected outcomes of the new cycle of Audit ToT workshops. 09:00 Session 1: Our common CPD challenges and shared solutions & Moderators Kalina Sukarova Senior Financial Management Specialist, CFRR, The World Bank Bonnie Ann Sirois Senior Financial Management Specialist, CFRR, The World Bank Using information collected from PAOs and workshop participants in a survey conducted before the workshop, participants will consider common CPD delivery and design challenges and share solutions. Good practices and innovative solutions will be showcased and each country delegation will be asked to provide their feedback and share examples. 10:30 Coffee break [30 min] 11:00 Session 2: The new Audit ToT cycle Bonnie Ann Sirois Senior Financial Management Specialist, CFRR, The World Bank Piotr Pyziak Extended Term Consultant, CFRR, The World Bank Waldemar Majek Consultant, CFRR, The World Bank The new refreshed and repackaged modules of the Audit ToT will be presented, highlighting the development of two streams: a more advanced narrow module for the experienced auditor and a foundation stream for the less experienced auditor. The Audit ToT team will introduce the different modules with short descriptions of content, delivery method and the type of case studies included. A few new concepts will also be discussed (such as packaging the trainings in a 2

5 shared electronic file and adding online sessions such as an ISA update with a greater outreach). Participants will have the opportunity to ask questions and discuss the content of the new Audit ToT cycle. 12:30 Lunch [90 min] 14:00 Session 3: Developing tools to support ISA implementation the Estonian approach Angelika Ruubel Estonian Auditors Association Sergei Tšistjakov E-Doc international projects Estonia has developed an audit documentation software package called E-Dok. This session will provide an overview of the main functionalities of the software package and discuss development and implementation challenges and solutions. Participants will be invited to ask questions and exchange experiences on the topic. 15:00 Coffee break [30 min] 15:30 Session 4: Using audit software as a teaching resource examples from Poland Katarzyna Kowalczyk Director of Caseware Poland, FCCA, Polish certified auditor Marcel Kaizer Director of Caseware Europe, Middle east and Turkey Aneta Wilk-Łyś Consultant, The World Bank This session includes several presentations on different ways to use audit software as an effective ISA teaching resource. The presentation will include a sample of selected areas from real-life audit case studies. Participants will be invited to ask questions and exchange experiences on this topic. 17:00 End of day one 18:30 Group dinner 3

6 Tuesday, 1 December 2015 Day 2 08:30 Morning coffee 09:00 Session 1: Group work: Sharing ideas and opinions Moderator Piotr Pyziak Extended Term Consultant, CFRR, The World Bank Group work to facilitate sharing ideas and opinions on the proposed content, format and approach of the new cycle of the Audit ToT. Participants will be divided into groups and each group will be asked to provide comments on the new training cycle [30 minutes group work]. Comments and suggestions will be sought on the following: content of the modules; content of the fundamentals and advanced streams; inclusion of modules in other assurance services; case studies and their format; content of online session; and the teaching format and other specific aspects of the training program. Each group will be asked to share their comments and suggestions [10 minutes per group for short presentations] 10:30 Coffee break [30 min] 11:00 Session 2: IAASB International Standards: Using the IFAC Guides in practice and for training Speaker Inge Saeys IFAC Small and Medium Practices (SMP) Committee This session will focus on how the IFAC Guides could be used in practice and for training on auditing, quality control, review and compilation engagements. An overview of the guides will be provided. The Guide to Using International Standards on Auditing in the Audits of Small- and Medium-Sized Entities is intended to help practitioners understand and apply the ISAs efficiently to audits of small-and medium-sized entities (SMEs). The Guide to Quality Control for Smalland Medium-Sized Practices provides non-authoritative guidance on applying ISQC 1. The Guide to Review Engagements helps practitioners conduct review engagements in compliance with ISRE 2400 (revised), and the Guide to Compilation Engagements addresses the responsibilities of a practitioner (who is not the entity s auditor) when engaged to perform a compilation of general purpose historical financial statements in accordance with ISRS 4410 (revised). Participants will also learn about the tools and resources available at the IFAC Global Knowledge Gateway. 4

7 12:30 Lunch [90 min] 14:00 Session 3: Online knowledge resources Kalina Sukarova Senior Financial Management Specialist, CFRR, The World Bank Waldemar Majek Consultant, CFRR, The World Bank The session will provide an overview of online knowledge resources and tools available on the web which can be used by trainers preparing CPD and by SMPs in their practical work. 15:00 Session 4: From global to local solutions simplified quality assurance guides for SMPs Hysen Cela President, Institute of Authorized Chartered Auditors of Albania Arber Hoti Head of Quality Assurance Department, Society of Certified Accountants and Auditors of Kosovo Albania and Kosovo have developed local guides on the minimum documentation requirements from the quality assurance perspective during SMP audits. They will present their experiences and share their insights on how the guide was developed, its content as well as the related implementation issues. 16:00 Closing of workshop 5

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