The colleagues of the Chamber of Accounts attended financial audit training organized by German Corporation for International Cooperation
Financial audit training within the project on “Strengthening the capacity of Supreme Audit Institutions in the Eastern Partnership countries to monitor the achievement of UN Agenda 2030 objectives” organized by German Corporation for International Cooperation (GIZ) was held for the colleagues of the Chamber of Accounts on September 23-26, 2019. The training was conducted by the head of department of State Audit Office of Georgia Mr. Tornike Shermadi. The main reason of the training is to further strengthen theoretical and practical knowledge of the colleagues of the Chamber and share the experience of State Audit Office of Georgia in this field.
During the training Financial Audit Manual drafted based on the recommendations of European Court of Auditors was referred to. On the first day of the training, following opening speech by Firsand Gurbanov, the Auditor of the Chamber of Accounts general information on classification of International Standards of Supreme Audit Institutions was presented, later on, detailed information on stages of financial audit and key points were given to participants. During the training, case studies were implemented and discussions were held with the active participation of participants.
On the next days of the training risk assessment, understanding of the entity and its internal control environment, fraud risk assessment, planning of materiality, identifying financial audit scope, common audit strategy, approval of financial statements, analytical procedures, audit recommendations, the content of auditor reports among others were reviewed and mutual discussions were held. At the end of the training the colleagues of the Chamber of Accounts were presented with certificates.