RESIDUAL SKILLS Auditing and Assurance Residual COMPETENCY: AA(R)1 - Demonstrates a basic appreciation and awareness of the practical considerations of the external audit function Rating by Decision tree Rating by Decision tree Reviewer’s comment (if the reviewer rating Tasks to be performed: trainee path ref reviewer path ref A/B differs from the trainee rating)) AA(R)1.1 Evaluates the and the appropriateness of the terms of engagement, including the responsibilities of management and the responsibilities of the auditors AA(R)1.2 Evaluates the impact of identified misstatements on the financial statements in the context of materiality AA(R)1.3 Evaluates the appropriateness of the management representation letter Trainee’s reflection on the professional skills (as set out in the Professional Skills Review document) utilised by them in demonstrating competence in the performance of these tasks. Trainee’s comment i.r.o. reviewer’s rating (or comments) for this competency: COMPETENCY: AA(R)2 - Prepares information requested by the external auditors Rating by Decision tree Rating by Decision tree Reviewer’s comment (if the reviewer rating Tasks to be performed: trainee path ref reviewer path ref A/B differs from the trainee rating)) AA(R)2.1 Prepares information for, or responds to requests by, the external auditors Trainee’s reflection on the professional skills (as set out in the Professional Skills Review document) utilised by them in demonstrating their competence in the performance of these tasks. Trainee’s comment i.r.o. reviewer’s rating (or comments) for this competency: COMPETENCY: AA(R)3 - Communicates with external audit Rating by Decision tree Rating by Decision tree Reviewer’s comment (if the reviewer rating Tasks to be performed: trainee path ref reviewer path ref A/B differs from the trainee rating)) AA(R)3.1 Communicates effectively with external audit stakeholders, for example identifying issues regarding the audit strategy, describing internal controls and financial systems used, any material issues identified during the course of the audit, etc.
RESIDUAL SKILLS Auditing and Assurance Residual COMPETENCY: AA(R)1 - Demonstrates a basic appreciation and awareness of the practical considerations of the external audit function Tasks to be performed: Rating by trainee Decision tree path ref Rating by reviewer Decision tree path ref A/B Reviewer’s comment (if the reviewer rating differs from the trainee rating)) AA(R)1.1 Evaluates the and the appropriateness of the terms of engagement, including the responsibilities of management and the responsibilities of the auditors AA(R)1.2 Evaluates the impact of identified misstatements on the financial statements in the context of materiality AA(R)1.3 Evaluates the appropriateness of the management representation letter Trainee’s reflection on the professional skills (as set out in the Professional Skills Review document) utilised by them in demonstrating competence in the performance of these tasks. Trainee’s comment i.r.o. reviewer’s rating (or comments) for this competency: COMPETENCY: AA(R)2 - Prepares information requested by the external auditors Tasks to be performed: Rating by trainee Decision tree path ref Rating by reviewer Decision tree path ref A/B Reviewer’s comment (if the reviewer rating differs from the trainee rating)) AA(R)2.1 Prepares information for, or responds to requests by, the external auditors Trainee’s reflection on the professional skills (as set out in the Professional Skills Review document) utilised by them in demonstrating their competence in the performance of these tasks. Trainee’s comment i.r.o. reviewer’s rating (or comments) for this competency: COMPETENCY: AA(R)3 - Communicates with external audit Tasks to be performed: Rating by trainee Decision tree path ref Rating by reviewer Decision tree path ref A/B Reviewer’s comment (if the reviewer rating differs from the trainee rating)) AA(R)3.1 Communicates effectively with external audit stakeholders, for example identifying issues regarding the audit strategy, describing internal controls and financial systems used, any material issues identified during the course of the audit, etc.