The Institute of Certified Public Accountants of Uganda (ICPAU) will hold the inaugural Model Audit File Continuing Professional Development (CPD) training from 6-8 May 2020. The second training will be held from 23-25 September 2020.
CPA Mark Omona, the Director – Standards and Regulation at ICPAU has said that the training aims at helping practising accountants and their staff to comply with the requirements of the International Standards on Auditing (ISAs) and related laws and regulations.
“The model audit file training will help practising accountants to understand the expectations of ICPAU, with regard to audit documentation,” CPA Omona said.
During the 2020 Practitioners’ Forum held on 23 January, it came to light that 56% of the audit firms require significant improvement in audit quality, as noted during the ongoing 4th cycle of the audit quality review programme.
While speaking at Forum, CPA Omona explained that the poor performance of firms majorly manifests in insufficient documentation, hence the need for a training to demonstrate what a model audit file should contain.
The three-day workshop will take a practical approach, with focus on recording audit evidence and completion of the file.
The workshop targets practising accountants and registration is via www.icpau.co.ug