In preparation for the upcoming audit season, a total of 18 auditors hustled to equip themselves with a deeper understanding of the AOC Audit Methodology, effectively preparing necessary audit documentation under the guidance of the Technical Manager and Senior Auditors.
Several interactive trainings were held from January 12-20, 2023, and were divided into three major topics: How to Complete Smartsheet: Documentation of Audit Procedures, Preparation of Financial Statements in accordance with the applicable financial reporting framework, and Proofreading of Financial Statements.
The training was started by Lian Santos, the Technical Manager by giving Basic Instructions in Using Smartsheet. It was then followed by the discussions about Audit concepts from Client Acceptance and Continuance up to Finalization by Miles Trisha Flores and Senior Auditors namely, Kristel Gay Dunuan, Dianne Hazel Bonita and Habib Dubar. Along with the theoretical aspects of audit, the participants also applied their learnings through workshops provided by the speakers.
A day was devoted for the discussion of the preparation of Financial Statements in accordance with full PFRS, PFRS for SMEs and PFRS for SEs while also highlighting the standard template used by the firm in presenting the Financial Statement. In relation to this, Ms. Grace Lucero gave tips on what to look out for when proofreading and shared techniques on how to perform key shortcuts efficiently.
In addition, they also engaged in informative webinars of Jovani Batad on subjects such as Focusing on the different note disclosures about the entity, subsequent events and amendments to PFRS, addressing common presentation pitfalls for balance sheet, income statement, changes in equity and cash flow statements and a lot more that would surely provide more enlightenment and impact their work’s accuracy.