A weeklong capacity development program on Understanding and Analysis of Financial Statements started today at Professional Development Centre, Tsirang. Five Auditors are attending in person at the PDC and seven participants are attending virtually from the RAA Headquarter and Regional Offices.
The program is aimed to enable auditors to perform deeper analysis of financial statements of public sector audit entities in order to enable them in providing highly reasonable assurance on the audited FSs. To achieve that, the participants will learn and understand:
1. the elements of inter-linkages amongst different account balances and their effect on the overall financial statements;
2. various aspects of reconciliation and analysis of FSs; and
3. how to form audit opinions based on the analysis.
The Program Director of the institute opened the session highlighting the uses of financial analysis for audit engagements for quality audit results.
The program is scheduled to conclude on 12th August 2022.