- Audit and control - Audit of consolidated financial statements under IFRS and French GAAP. Quality audit. Internal control audit.
- NF consolidation (French GAAP) - French GAAP consolidation
- Financial statements and appendices - Balance sheet, income statement, cash flow statement, statement of changes in equity, ICOs, appendices
- Operational flows and processes -
- Consolidation scope - Consolidation scope - First-time consolidation - Goodwill - Minority interests
- Account quality - Justifying and assessing account quality
Improvement
Target audience
- Consolidators
- Chartered accountants, statutory auditors
- Finance, consolidation and accounting managers
2 day
Consolidated accounts audit training
Prerequisites
No prior knowledge is required
Objectives
◗ Assess the reliability of the process for preparing consolidated financial statements and the completeness of the information required under IFRS and French accounting standards.
◗ Implement key controls to ensure that consolidation procedures are performed correctly and to detect any discrepancies.
◗ Analyze the impact of changes in the scope of consolidation.
Training program
◗ Familiarize yourself with the general framework for auditing consolidated financial statements
– French and European regulatory frameworks and professional practice standards
– Assessment of the organizational model for consolidation and key processes
◗ Controlling the consolidation process
– Validate the scope of consolidation
– Review the impact of restatement and elimination entries
– Streamline the calculation of taxes (current and deferred) using the tax worksheet
✔ EVALUATE | Interactive quizzes
✔ APPLY | Practical cases: analysis of the scope of consolidation, recognition of adjustments, audit of deferred taxes and tax documentation
◗ Validate the cash flow statement
– Classification of cash and cash equivalents
– Detailed analysis using the indirect method
– Link to the balance sheet usingthe cash flow approach
✔ UNDERSTAND | Annotated reading of published cash flow statements
✔ APPLY | Illustrated example of preparing a cash flow statement using the cash flow approach
◗ Review the statement of changes in equity
– Steps in the equity reconciliation process
– Specific considerations based on the consolidation method used
– Using the statement of changes in equity as a tool for reviewing consolidation adjustments
✔ UNDERSTAND | Illustrations: Impacts of various transactions on the statement of changes in equity
✔ APPLY | Case Study: Audit of changes in equity – Spot the Seven Differences
◗ Conduct specific due diligence in the context of an acquisition or divestiture
– Acquisition of Control: Determining Goodwill, Its Allocation, and Subsequent Monitoring
– Validating the Consolidation Treatment of Other Changes in the Scope of Consolidation (Equity Method Investments, Step Acquisitions, Disposals)
✔ UNDERSTAND | Comparison of Impacts Under French GAAP and IFRS
✔ APPLY | Case Study: Auditing the Impacts of an Acquisition
◗ Audit the consolidated financial statements
– Presentation of the Consolidated Financial Statements – Key Differences Between French Accounting Standards and IFRS
– Review of Post-Closing Events
Why choose this course?
This training course reviews the audit techniques required to validate the transition from parent company to consolidated financial statements in compliance with IFRS and ANC regulation 2020-01. It suggests ways of assessing internal control and performing the appropriate substantive tests.
Teaching and assessment methods
Before the training: Submit your expectations via your online portal 15 days before the training begins and complete a self-assessment of your skills.
Teaching Methods: A variety of methods to cater to different learning styles, encourage active participation, and reinforce learning through experimentation and practice.
Educational materials: presentation materials, reference materials (summary sheets, tables, etc.), and other resources available in your account.
During the training: a mix of theoretical concepts and examples drawn from real-life cases. Participants are given the opportunity to engage in role-playing exercises. Numerous practical exercises allow participants to demonstrate their mastery of the skills as the training progresses.
Monitoring and evaluation: attendance sheet and certificate of completion. Immediate and post-training evaluations conducted using the LearnEval platform.
Price
2,250 EXCL. TAX
Testimonials
consolidated financial statements audit training
consolidated financial statements audit training
consolidated financial statements audit training
Jonathan C.
Company
Training