Auditing consolidated accounts under IFRS
  • Accounts quality - Know how to justify and assess the accounts' quality
  • Audit and control - Auditing consolidated accounts under IFRS and French GAAP. Performing a quality audit. Auditing Internal Control
  • Consolidation scope - Consolidation scope - First consolidation - Goodwill – Control - Minority interests
  • Consolidation under IFRS - Accounting production: Know how to prepare consolidated accounts under IFRS.
  • Financial statements and notes - Know the balance sheet, the income statement, the cash flow statement, the statement of changes in shareholders' equity, the OIC, the notes.
  • IFRS standards - International Financial Reporting Standards
  • Operational flows and processes -

Target audience

- Accounting managers
- Chartered Accountants, Statutory Auditors
- Consolidation and Accounting Directors
- Consolidators
- Financial managers

2 day

Prerequisites

This training does not require any particular prerequisite.

Objectives

– Be able to assess the reliability of the consolidation process and the completeness of the disclosures required under IFRS
– Know the key controls allowing to ensure the correct execution of the consolidation process and to detect potential irregularities
– Master the impacts on the scope of consolidation according to IFRS 3, IFRS 10 and IAS 28

Detailed content

> Analysing the organization of the consolidation process and reviewing internal financial information

– Assessing the organization: skills of the consolidation department, communication and knowledge of group instructions, use of sub-groups…
– Understanding IT specificities and linking them to the audit trail: structure of the reporting pack, data sources, automated processes
– Assessing internal reports

> Auditing the consolidation process

– Validating the scope of consolidation according to IFRS 10 and IFRS 11
– Auditing consolidation adjustments to get to group financial statements
• Adjustments: against P/L or OCI? What kind of tests? At what level?
• Deferred tax: tax proof as a checking tool
– How to use the statement of changes in shareholders’ equity under IFRS, and especially in case of changes in accounting policies (IAS 8)

> Specific tasks required when acquiring or disposing of subsidiaries shares

– The special case of equity method entities (IAS 28)
– Determining and allocating goodwill (IFRS 3) and subsequent follow-up according to IAS 36
– Other changes in the scope of consolidation, validating impacts on equity or P/L
– Focus: recycling to P/L of items previously recorded in OCI

> Other tasks to perform

– Auditing the cash flow statement
• Standard tests
• Specific tests under IFRS
– Detailed review of the disclosures required on the scope of consolidation (IFRS 12)
– Required segment reporting (IFRS 8)

Why should you attend?

This seminar permits a comprehensive review of the auditing techniques required to validate the consolidation process and the consolidated accounts under IFRS.
The training will give you tips and best practices to assess internal control and to perform appropriate substantive tests.

Training methods and assessment

Presentation supported by immediate application of issues: exercises and case studies performed during the session.
Numerous real-life illustrations drawn from recent publications.
Assessment questionnaire.
A training certificate is delivered at the end of the session.

The trainer is available by e-mail to answer any follow-up questions participants may have.

Price

1 840 € Excl. VAT – 2 208 € Incl. VAT

Médias

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Témoignages

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Jonathan C.
Entreprise
Formation