Practical Auditing 101 – LUMS CES

2022

Brief Description
Practical Auditing 101 is a hands-on training designed for budding professional
accountants/auditors to develop their employability skills. Evolve Learning Team has built it on a
unique simulation-based andragogical approach wherein the trainees will perform audit
engagement under the direct supervision of a qualified auditor. The training program also
focuses on accounting/auditing knowledge, computer literacy, communication and

interpersonal skills of the trainees.

Figure: The Program's Learning Model

Qualified
Auditor

Bizware Trainees Assessment of Certificate of

Learning Team Learning Completion

Legend:
Audit ___: Audit Workflow
Client -----: Learning Activities
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Key Highlights of the Program

Learning Sessions Business Meetings Individual Feedback

Sessions
20+ 20+

5+

Mentoring/Support Presentations Accounting software

Yes 5+ Yes

Exams and assessments Employability Skills Certificate

Yes Yes Yes

Team of Experts/Facilitators
Evolve has a team of enthusiastic and ambitious professionals and academicians who have
extensive knowledge and expertise in the technical area and impressive skills in teaching and

staff development activities.

We also invite experts from the relevant areas to discuss the current practices and share the
profession's emerging opportunities. We ask veterans from leading audit firms, blue-chip

companies, and reputed universities for inspiration and experiential insights.

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To whom this training relates

This program has designed for professionals with 0-3 years of experience in accounting/auditing
and is suitable for:

– Students of Professional Bodies (such as ICAP, ACCA, ICMAP)

– Business Students of O/A Levels
– Employees working in Accounting and Finance Function
– Internal auditors of the organizations (such as NGOs, SMEs, MNCs, Banks, AG Office)
– University students of business and commerce disciplines

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Course Description: Auditing Simulation

Training and skill development for the young accountants/auditors is a time-consuming and
resource-needed task. It takes a long time to acclimatize an entrant, impart the requisite

technical and soft skills, and make him/her a productive member of the professional teams. The
conventional training and capacity-building approaches are not effective and efficient. Real

learning happens when the trainee works on clients under the supervision of a qualified
professionals who guide him, review his work, and provide positive feedback. Based on the
survey conducted by Evolve, it takes more than one and a half year in this process.

Practical Auditing 101 aims to shorten the period to six months with its rigorous hands-on,
simulation-based training program to address these learning and capacity-building challenges.
This program develops the trainee in Accounting, Auditing, Communication, Interpersonal Skills,
and Business Software in an integrated working environment.

The program participants will perform a complete audit of model commercial entities under the
command of a qualified auditor, starting from planning activities to the issuance of
audit/engagement reports. Evolve Learning Team will monitor the activities and will provide

requisite guidance and needed assistance during the process.

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Course Learning Objectives

The program's primary objective is to acquaint the trainee with all the accounting and auditing
cycle stages and hone their basic computer skills, business software, and communication and

interpersonal skills.

After attending this program, the participant should be able to:

1. Understand the regulatory, professional and ethical framework of assurance engagements

2. Understand the processes of accepting and managing assurance engagements
3. Plan assurance engagements in accordance with the legal and regulatory requirements
4. Perform the audit procedures on financial statement and financial statement line items
5. Issue an audit opinion based on the work performed

6. Communicate persuasively through written and oral communication

7. Demonstrate the use of accounting software
8. Use computer and related technology efficiently for office work
9. Give effective and engaging professional presentations to a variety of audiences

10. Participate in business meetings and professional Interviews, and work in teams

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Program Team
This simulation requires a diversified and well-resourced team to run and manage it to
accomplish the desired learning objectives. Our Program Team include the following sub-teams:

– Instructional Team

– Audit Firm Team

– Client Team

– Program Coordination Team

A. Instruction Team
The instructional team will provide the basic theory and knowledge according to the learning
objectives. Our instructional team comprises of passionate subject experts having extensive

experience and who have worked with the leading training/educational institutes:

1. Abdul Rauf, FCA

B. Audit Firm Team

The role of the audit team is to provide students with the required supervision to perform the
audit. The audit team has seasoned chartered accountants who have worked with Big 4 audit

firms. They have also worked with reputable organizations globally.

1. Amin Ali, FCA, FCCA

2. Dabeer Khalid, ACA, FCCA

C. Audit Client Team

The audit client team is the office bearers of the client organization. It comprises the following

officials of the auditee organization:

1. Waqar ul Hasan Mian (CEO)

2. Muhammad Scheraz, FCA (CFO)

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These team members have extensive experience in the respective functional area and

comprehensive knowledge of the client business processes.

D. Program Coordination Team

This team coordinates between the instructors, supervisors and client officials to smoothly run
the simulation activities. They ensure that the simulation has been run as per the agreed plan.

They also administer assessment instruments to assess the learning of the participants.

1. Arzam Husain

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