RSM Audit 1 Course

Training 2019
 Power comes from being understood

INTRODUCTION
Module 1 – Introduction

• Introductions
• Team Building Exercise
• Learning objectives, outcomes and agenda for
course
• What is an Audit?
• Why do we perform an audit?
Introductions : Instructors
Team Building Exercise
Paper Tower – Rules
• Objective: To build as high a tower as possible that will stand alone.

• Criteria: Your tower MUST have two alternating layers of color

throughout, i.e. it must be “striped”.

• Timing: 15 minutes including design, purchasing and building.

• Paper Tower – Sources
• Budget: Rp100,000
• Paper Card: Large = Rp15,000 Small = Rp10,000
• Scissors, tape, stapler: Free
• Labor: YOUR team
• Time: 20 minutes in Total

Remember:
Your Objective: To build a free standing tower as high as
possible!
Your Criteria: Your tower must have two alternating layers of
color throughout (i.e. it must be “striped”)
Exercise debrief:
• How did you work as a team?
• Consider:
• The achievement of the objective.
• Whether the strengths, abilities and existing skills of individual
team members were utilized effectively.
• Project management skills.

• What Went Well?

• What Went Not So Well?

How does this activity link back to your
role on audit engagements?
Feedback model :

What went
well ? Not so well ?

Benefits Concerns
RSM Indonesia Values: Guiding Behaviors:

SMART Work smarter, not just harder

TRUST Build trust, and maintain

ACTION Commit, and make things happen

RESPECT Respect yourself, respect others

 SMART Work smarter, not just harder
• Do what human do, Think!
• Not just do, but do the right thing
• Know what you do
• Learn from others
• Maintain professionalism skepticism
• Initiate ideas
• Think outside the box
• Master your emotion
 TRUST Build trust, and maintain
• Practice what you preach
• Earn your trust, maintain integrity
• Confidentiality is a must
• Always keep your promise
• Live out unconditional responsibility, be a player not a victim
• Deficiency shows when you blame others
 ACTION Commit, and make things happen
• Committed & dedicated to your work
• Consciously act and response to provide solutions
• Never satisfy with minimum effort & quality
• Always prudent & meticulous
• Eager to develop & increase competency
• Communicate authentically and constructively
• Always consider budget in executing tasks
• Contributes value to all
• Coordinate impeccably, and support your team & peers
• Enjoy work, bring out the best
 R E S P E C T Respect yourself, respect others
• Have sense of ownership

• Maintain positive attitude

• Be nice, hostility wont take you anywhere

• Appreciate differences, people take different roads seeking fulfillment

• Congratulate achievements, don’t be selfish & envious

• RSM Indonesia Website
Just visit https://www.rsm.global/indonesia/en
RSM Audit 1 - Course Objective:
This course is designed to prepare you for your role as an audit assistant. After
completing this course you will:
• Be familiar with and able to access RSM Global Audit Manual
• Understand the basic concepts and requirements of the RSM audit approach
• Be able to apply substantive procedures under the direction of a supervising
accountant
• Develop a basic understanding of the client’s business and industry
• Develop a basic understanding of accounting and internal control systems
• Be able to document accounting and internal control systems under the direction
of a supervising accountant
• Be able to apply tests of internal controls under the direction of a supervising
accountant
• Develop a basic understanding of audit materiality
• Design, select and evaluate the results of an audit sample
• Develop a basic understanding of analytical procedures
RSM Audit 1 - Course Agenda
See schedule
What is the purpose of an audit ?
• What does this term mean on an audit?

“Reasonable assurance”

• Discuss in table groups and brainstorm.

• Select one person to present back .

ISA Definition

• Reasonable assurance
– In the context of an audit of financial statements, a high, but not absolute,
level of assurance.

• ISAs require the auditor to obtain reasonable assurance about

whether the financial statements as a whole are free from material
misstatement, whether due to fraud or error.
• Reasonable assurance is a high level of assurance.
• Requires sufficient appropriate audit evidence to reduce audit risk to
an acceptably low level.
Independence

In mind In appearance

and…
Which Column Best Describes the Responsibilities of an Auditor?
 Gives an opinion on whether a set of
 Confirms that the financial financial statements are present fairly.
statements present fairly.
 Gives an opinion as to whether the
 Corrects all errors in a set of financial statements are prepared in
financial statements. all material respects in accordance
with an Indonesian Financial
 Involves checking all the controls in Accounting Standards.
an organization to ensure they are
working effectively.  Is not responsible for identifying all
instances of fraud, but material
 Is responsible for identifying misstatements, whether due to fraud
instances of fraud. or error.
Why do we perform an audit?
• Users of financial statements

• Legal and regulatory requirements

• Financial reporting framework

• Internal and external reviews

• Independent audit report

End of Module 1