PRACTICAL TRAINING

FOR AUDIT NETWORKS

AND MEMBER FIRMS

Flexible, practical learning for audit teams - online, live and in

person.

AUDIT • IFRS • QUALITY

Basford Consulting

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BASFORD CONSULTING | AUDIT • IFRS • QUALITY

Practical training for audit networks

and member firms

Choose the learning each team needs, when it needs it. Basford Consulting offers practical online

courses, live webinars, conference sessions and coordinated delivery with network trainers. The network

can offer a common programme across member firms while each firm selects topics and formats that fit

its people, engagements and local priorities.

A flexible training opportunity

Our training turns complex IFRS, auditing standards, ethics and quality requirements into practical

learning drawn from real reporting and audit issues. It gives a network access to specialist content and

delivery capability without requiring every member firm to build the full programme itself. The same

material can support a network curriculum, a local firm programme or a targeted response to a specific

engagement or quality finding.

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The training menu

ELEMENT

WHAT IT CAN INCLUDE

On-demand learning

Access Basford Consulting’s suite of interactive, just-in-time

online material. Individuals work through relevant topics at

their own pace, revisit them when needed, and complete

knowledge checks or assessments.

Live webinars

A series of practical IFRS, audit, ethics and quality sessions,

including technical updates and focused topics selected for

the network or an individual firm.

Conference and in-person sessions

Face-to-face workshops, technical sessions or conference

presentations that allow teams to discuss case studies and

challenging judgements together.

Blended programme

Online material used before a debrief webinar or workshop,

with discussion of the application to the network’s work.

Joint delivery

Coordinated content and presentation with network trainers,

including train-the-trainer support and a shared programme

that builds local teaching capability.

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Mix and match for the network or an individual firm

Build the right combination for each audience

There is no need to adopt one format for every topic. Basford Consulting and the network can

assemble a programme from the menu, then adjust it for different member firms, levels of

experience and local requirements.

Network-wide foundation

Provide a common set of online modules on recurring IFRS and audit issues, complemented by periodic

technical update webinars. Member firms can add topics relevant to their own client base.

Learn then discuss

Ask participants to complete a module before a live debrief. Basford Consulting or network trainers can

use the session to test judgement, answer questions and work through local examples.

Engagement-led learning

Direct a team to a focused module shortly before a complex engagement area such as revenue,

impairment, financial instruments, leases, going concern or group audit work.

Quality and remediation

Use targeted learning following monitoring findings, file reviews or root cause analysis. Training can also

prepare reviewers for a monitoring cycle and reinforce consistent quality expectations.

Local delivery with central content

A member firm can use network-approved content and its own trainers, call on Basford Consulting for a

specialist webinar, or bring Basford Consulting into a conference or workshop.

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Why online material changes the economics of training

LEARN WHEN THE NEED ARISES

Just-in-time access allows teams to learn as the task

arises, instead of relying only on a scheduled course

that may be months away.

KEEP EVERYONE ON TRACK

New joiners and people who missed a live session

can work through the relevant material without

waiting for the next event.

REVISIT AND EVIDENCE LEARNING

Modules can be revisited. Completion and

assessment results can help firms monitor

participation and understanding, subject to the

reporting arrangements agreed for the programme.

SUPPORT RECRUITMENT AND DEVELOPMENT

Targeted modules can help assess potential recruits

and support development plans for existing staff.

STRENGTHEN THE EMPLOYEE PROPOSITION

A visible investment in practical learning helps firms develop and retain people, and strengthens the

network’s offer to prospective recruits.

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Where conventional training falls short

Move from attendance to practical application.

A conference can deliver a large volume of material, but it cannot by itself ensure that the right person

understands the right subject when an engagement calls for it. Basford Consulting’s training is designed to

close the gap between attending a session and applying the learning in practice.

Pre-course material may go unread

Conventional pre-course material may go unread, leaving firms with little evidence of what participants understood.

Online modules record completion and use assessments to show which points have been understood and which

need further explanation before a live discussion.

Training is delivered just in case

People can take a focused module shortly before an engagement, a reporting decision or a review, when the

learning is most useful.

Conference days overload participants

Learning can be spread across shorter modules, with a webinar or workshop reserved for difficult judgements and

discussion.

Material is hard to revisit

The online material can be replayed before practical application and used again at engagement planning meetings.

Technical courses can be too academic

Practical cases show where errors arise, what evidence matters and how a team should respond.

Accounting and audit training are disconnected

The material connects IFRS requirements to the related audit risks, procedures and judgements under the ISAs.

New hires miss the annual cycle

People recruited or promoted between conferences can follow a targeted learning path immediately, then join the

next live discussion.

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Training supports ISQM 1 and ISA 220

ISQM 1

Build the human resources required for

audit quality.

Competent people are fundamental to audit

quality. ISQM 1 requires firms to address the

human resources needed for their system of quality

management.

ISA 220 (Revised)

Match sufficient and appropriate resources

to each engagement.

ISA 220 (Revised) places responsibility on the

engagement partner to consider whether sufficient

and appropriate resources are available for the

engagement.

FROM TRAINING TO CAPABILITY

A structured training programme helps a firm develop those resources and allocate people with relevant

knowledge to the work they will perform.

EVIDENCE

Completion • Assessment

• Follow-up

Completion records and assessment results give the firm evidence of

the training undertaken and highlight subjects that need follow-up.

They help partners and managers identify suitable team members,

provide further coaching where needed and demonstrate how the

firm develops capability in response to engagement needs and

monitoring findings.

Basford Consulting’s training supports these quality requirements through practical learning grounded in

real-life auditing. Online access enables all staff to receive relevant training regardless of when they are

hired, rather than waiting for the next scheduled training event. Assessments can help evaluate the

technical capability of new hires and provide evidence supporting promotion decisions, including

promotion to partner. Targeted training can form part of a remediation plan for deficiencies identified

through quality management monitoring, with assessment results helping identify where further

explanation or coaching is needed. The material can also be used to train reviewers and strengthen their

understanding of the accounting, auditing and quality requirements they assess. This gives firms a

practical way to develop and demonstrate the competence needed for the responsibilities they allocate.

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A programme built around your audience

Audit teams

Core audit and reporting topics, with short learning paths for new joiners and focused modules for

engagement teams.

Partners and technical teams

Advanced judgement, current developments and case-based discussion of recurring technical and

inspection issues.

Quality reviewers

Training linked to the review programme, common findings, consultation and remediation under the

firm’s system of quality management.

Clients and prospects

Where agreed, co-branded online learning or network-branded webinars can extend the network’s

thought leadership to clients and prospective clients.

How the arrangement can be configured

The network may appoint Basford Consulting as its approved training provider and make agreed material

available across member firms. Alternatively, a member firm may select a smaller package for its own

people. The arrangement can combine online licences, a webinar series, selected live workshops and

coordinated delivery with network trainers. The programme, branding, access, assessment reporting and

commercial terms can be specified for each audience and scope.

The result

A practical, repeatable learning resource that is available when work demands it, supports consistent audit quality,

and gives the network and its member firms a stronger proposition for their people and clients.

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How the network can purchase and access training

The offering is designed to be flexible. Networks can arrange a common programme for member

firms, while individual firms select the courses, licences and live sessions that meet local needs. The

options range from individual webinars to a coordinated blend of online and in-person learning.

1 Schedule a webinar series

The simplest approach is to select relevant IFRS, auditing, ethics and quality topics and make a series of

webinars available to the network. Sessions can be scheduled or repeated at convenient times for

different time zones. This is straightforward to arrange, although a webinar-only programme may be less

efficient when participants need to revisit the material or show what they have understood.

2 Agree access licences and select courses

The network, or an individual member firm, first agrees how many people need access to Basford

Consulting’s online training. The price per access licence is negotiated and the iSpring provider’s charge

for individual access is passed through at cost. The network or firm then chooses which courses those

people may access. Access may cover individual courses or a wider selection, with discounts agreed for

broader course access. Access licence numbers and the course selection can therefore be matched to the

people and subjects required.

3 Add debrief webinars

The next step is a coordinated training plan. Selected online courses become pre-course material, with

completion and assessment results showing which topics need discussion. Basford Consulting or network

trainers can then lead debrief webinars focused on difficult points, practical application and questions

raised by participants. Online content builds foundational knowledge, leaving live sessions for practical

application and discussion of judgemental areas.

4 Use online learning before in-person events

The same approach can support network conferences, network training days and individual firm training

days. Participants complete agreed online courses in advance. Face-to-face sessions then concentrate on

case studies, audit implications and issues that assessment results show require further explanation.

5 Agree the programme

Basford Consulting and the network agree the audience, number of access licences, selected courses, live

sessions, presentation requirements and commercial terms. A firm can begin with individual courses or

webinars and expand to a coordinated network training programme as its needs develop.

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Course Catalogue

Networks can select survival courses, focused technical subjects and updates to match their clients,

engagements and development priorities.

Accounting and financing

Survival courses explain the requirements, common errors and practical judgements. The accountant and

auditor versions address the same reporting issue from preparation and audit perspectives.

COURSE

COVERAGE

Survival course on revenue — IFRS 15

The five-step model, performance obligations, recognition and

common misstatements.

Survival course on financial instruments —

IFRS 9 and IAS 32

Identification, classification, measurement, impairment and

presentation.

Survival course on leases — IFRS 16

Identifying arrangements, lease calculations, modifications and

omitted leases.

Survival course on impairment — IAS 36

Indicators, cash-generating units, cash flows, discount rates and

valuation pitfalls.

Survival course on share-based payments —

IFRS 2

Classification, conditions, valuation, modifications,

cancellations and employee departures.

Survival course on convertible notes — IAS

32 and IFRS 9

Compound instruments, conversion features and embedded

derivatives.

Survival course on financial statement

reviews

Presentation, disclosures, judgement and common review

deficiencies.

Survival course on junior explorers — IFRS 6

Exploration expenditure, impairment, funding and reporting

risks.

When to consolidate — IFRS 10

Control assessments and determining the reporting group.

What to consolidate — IFRS 10

Consolidation procedures, adjustments and recurring

accounting errors.

Joint arrangements — IFRS 11

Joint control and distinguishing joint operations from joint

ventures.

Common errors in share-based payments —

IFRS 2

Practical scenarios revealing omitted arrangements and

incorrect accounting.

Common errors in impairment — IAS 36

Testing at the wrong level and errors in value-in-use and fair-

value models.

Income taxes — IAS 12

Temporary differences, deferred tax assets, tax losses and

acquisition effects.

Construction contracts — IFRS 15

Variable consideration, contract changes, cost estimates and

recognition over time.

Business combinations — IFRS 3

Business versus asset acquisitions, restructures and

continuation accounting.

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COURSE

COVERAGE

Moving from Exploration to Development

and into Production

Development expenditure, impairment, rehabilitation,

inventory and stripping costs.

Reporting developments

IFRS updates, IFRS 18, IFRS Interpretations Committee decisions

and US GAAP versus IFRS.

Auditing

These courses cover the practical application of the ISAs, from accepting an engagement to evaluating

evidence and reporting. The survival courses link IFRS requirements with audit risks, procedures and the

judgements auditors need to make.

COURSE

COVERAGE

Overall audit objectives — ISA 200

Reasonable assurance, judgement and the foundations of an

effective audit.

Client acceptance and continuance

Assessing engagement risks, management integrity and the

ability to perform the work.

Engagement team discussions

Sharing knowledge, identifying fraud risks and directing the

team’s work.

Resources to perform an audit

Matching skills, specialists and time to the engagement’s

demands.

Audit planning — ISA 300

Translating risk and materiality into the strategy and audit plan.

Risk assessment — ISA 315

Understanding the entity, identifying risks and avoiding

checklist-driven assessment.

Understanding the control environment

Tone at the top, weak governance and the limits of substantive

testing.

Auditing around the IT black box

IT systems, automated controls, data integrity and evidence

from system outputs.

Audit assertions

Mapping risks and procedures to existence, completeness,

valuation and other assertions.

Audit evidence — ISA 500

Relevance, reliability and evaluating contradictory or

insufficient evidence.

Fraud — ISA 240 (Revised)

The fraud lens, risk assessment, responses, documentation and

reporting.

The fraud triangle

Incentives, pressures, opportunities and behavioural indicators

of fraud.

Professional scepticism

Challenging explanations, recognising bias and following

warning signs.

Going concern survival — ISA 570

Forecasts, financing, assumptions, material uncertainty and

audit reporting.

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COURSE

COVERAGE

Going concern — ISA 570 (Revised)

Preparing teams for revised responsibilities and the required

work effort.

Accounting estimates — ISA 540

Uncertainty, methods, assumptions, data and management

bias.

Related parties — ISA 550

Unidentified relationships, unusual transactions and fraud

implications.

Subsequent events — ISA 560 and IAS 10

Audit procedures and adjusting versus non-adjusting events.

Group audits — ISA 600

A full course on strategy, components, communications,

consolidation and evidence.

Auditing income taxes — IAS 12

Completeness, recoverability, uncertain tax treatments and the

need for expertise.

Financial reporting failures

Lessons from Centro, Slater & Gordon and Wirecard.

How material misstatements happen

Detection, prevention and audit responses to financial

reporting manipulation.

Why audits go wrong

Failures in risk assessment, scepticism, execution and

documentation.

Cross-border auditing

Verification and fraud risks, including lessons from auditing

Chinese operations.

Ethics

Ethical considerations are addressed in training on professional scepticism, the fraud triangle, how

material misstatements happen and financial reporting failures. These subjects address behaviour,

pressures and professional responsibilities through practical examples.

Sustainability reporting

COURSE

COVERAGE

Climate-related disclosures — IFRS S2

A practical overview of the climate-related financial disclosure

standard.

Sustainability assurance — ISSA 5000

Practical guidance on applying the international sustainability

assurance standard.

Quality

COURSE

COVERAGE

System of quality management — ISQM 1

Is yours working? What the standard requires and what

undermines effectiveness.

Engagement quality — ISA 220 (Revised)

Managing audit quality at the engagement level in practice.