I would like jumpstart a career in audit. Any tips on how to? Seems its hard to land a job without any experience. Thank you! Love watching your videos.
+Meeko Pascua hi! Graduate recruitment is tough - the key things firms are looking for are: 1. Communication skills 2. Technical skills 3. Communication skills The key is those communication and other professional skills - how to write your CV in a way that is professional, verbal and non-verbal communication skills (in person, on the phone and via video link like Skype). If you're having issues getting a job straight after graduation - my suggestion is to get a job in accounting and then attempt to transfer over to auditing. The other key tip I give my students is internships over the summer break from uni - many Big 4 and smaller firms use these to screen candidates and offer them jobs before they've even graduated :)
I am a fresh graduate and I am hoping to get a job in assurance service, can I send you my CV to review it? I know it os kinda weird :)! . Thanks In advance.
Hi - TCWG is defined as "The person(s) or organisation(s) (e.g., a corporate trustee) with responsibility for overseeing the strategic direction of the entity and obligations related to the accountability of the entity. This includes overseeing the financial reporting process. For some entities in some jurisdictions, those charged with governance may include management personnel, for example, executive members of a governance board of a private or public sector entity, or an owner‑manager" From ISA 260
Hi Ayesha - yes - while the content isn't produced in a way to strictly align with the exact topics - everything I do have is helpful for ACCA audit module :)
When the auditor is giving modified opinion (Disclaimer of Opinion)-is it reasonable assurance as we may be not giving true and fair view due to inability to obtain sufficient appropriate evidence but at the same time we are giving opinion in an "audit" which is said to be reasonable assurance. Thanks in advance Ma'am :) :)
Hi, l think you are very good at what you do, you make the material very easy to digest and your delivery is very good. l listened to the video and l was impressed. However, you said some unfortunate things regarding Zimbabwe. Firstly you mentioned, incorrectly, that the country does not use standards. To make it worse you even said 'l am pretty sure ...' This comment was made around the 22nd minute. Apart from this, you then went on to say because so and so is not keen on it. I would have expected as an academic that you would at least be factual about your comments. Firstly you are encouraging a falsehood, Zimbabwe, does use IAS and ISAs. You can check for yourself on this link from the IFRS org.www.ifrs.org/use-around-the-world/use-of-ifrs-standards-by-jurisdiction/#profiles On the matter of ISAs www.ifac.org/system/files/uploads/MBD/Basis-of-ISA-Adoption-by-Jurisdiction-August-2012.pdf Therefore you have not only made totally unfounded and false statements but they are unfortunate because they are coming from someone most people would believe because you are an expert. As a lecturer you have a very powerful voice especially among young, impressionable people who may not have as much information as you and they would most likely believe all you say without questioning it or independently verifying it. Additionally, as someone who uses youtube, you have a very wide reach which has the potential to reach many people positively or otherwise. l will be the first to admit Zimbabwe as a state has a lot of issues which need to be resolved and for many people the association is negative. However, not everything that comes from Zimbabwe is bad. Are you are aware that auditors and accountants from Zimbabwe enjoy mutual recognition with many accounting bodies and countries including the UK, South Africa, Hong Kong CPA to name a few. Now, if as you said the standards are not followed how would this be possible? Furthermore, Zimbabweans have been able to secure work as auditors, accountants in many countries including the States, the UK, Australia and so on, How would this be possible if what you state is true? l would have thought that you could have at least tried to verify your statements before making them as an auditor l expect more from you in this regard. lmagine if l were a student where you teach, after seeing what you said about my country, l may believe you would be biased to me as a student and a person. l may not feel comfortable in your class because of this perceived bias - real or imagined. Lastly, l am aware people can and should say what they wish to say, within reason, however, l fail to see how politics and this course are related? l say politics because you mentioned the name of the former president.Had you merely said Z..... then this would not be such an issue. You made it personal when you mentioned him by name. Interestingly when you spoke of all the other countries you did not see the need to do this, is it not a question of double standards? l mean if all these countries are not using the standards, why did you then go on to mention the leader of one of them not anyone else? If it were history, politics and other such subjects then this would be perfectly acceptable however for an auditing class l am not so sure/ Anyway, that is all l have to say. l believe you may not agree with what l said but hopefully, you can at least try to look at things from another perspective and see how your comments may be construed by others.
Hi ddx ddx Many thanks for taking the time to write such a detailed reply. I would be more than happy to include some information based on what you have posted. Would you like to write a new comment describing the introduction and uptake of IFRS and I'll pin it as a "highlighted" comment for everyone to refer to? Kind regards Amanda
Hi Amanda I have produced something, hopefully, it will be useful to someone. It looks at the global picture as at 25 April 2018. Global Adoption of IFRS This is a summary of what l understand. . According to the IFRS Org, there are approximately 166 territories where IFRS have been adopted. 156 of the 166 jurisdictions have made a public commitment to adopting IFRS as a single set of high quality standards. Notable exceptions are Sweden, the Cayman Islands, Bermuda, Belize and Egypt. Of the 166, 144 jurisdictions require IFRS for all or most public corporations. 12 of the 166 permit IFRS, meaning they can be additional or used in conjunction with another set. A notable country in this category is Japan. Other interesting facts - only one country is at present going for full adoption being Thailand. Only seven territories use either national or regional standards. Not surprisingly these are China and the US. Other notables are Macao, Vietnam, Egypt and India. Some more interesting stats are as follows: Require the use of IFRS. Europe - 98% Africa - 95% Asia + Oceania - 74% The Americas - 73% So in summary Europe leads the adoption at 98% followed closely by Africa at 95% which is a surprise. The laggards are the Americas at 73% and they are bettered by Asia by a very thin margin. Of the 144 countries a few have already adopted IFRS on a word for word basis or on almost word for word. These include Australia, Hong Kong, New Zealand and South Korea. The overall picture is very good if we consider the lowest adoption rate is 73% which is almost three quarters. It is more interesting to see that three of the largest economies in the World being the US, China and Japan either do not use IFRS or they make it optional. If we add India to this mix, it would seem strange that some of the most important countries in the world do not seem to wish to adopt IFRS. It maybe a question of doing what they deem to be in their best interests. Source: www.ifrs.org/use-around-the-world/use-of-ifrs-standards-by-jurisdiction/#analysis
Thank you so much for these videos, I'm studying Auditing in South Africa and I had little knowledge of it so I feel enlightened now,thank you.
I love love love this channel.
Great content..i learnt more from these videos than actual class
Big love from Uganda 🇺🇬
Hi Jude! Thank you so much for the kind words 🙏🙏 Hope things are going well in Uganda :)
With love from Uganda..
I am from India. ...n this video is helping me alot...thanks...for making Audit lecture interesting
Amanda, I love you.
i love your presentations. thanks for making auditing understandable
Thank you Kimuli 🙏☺️
Teacher, you a great!!! Thank you very much.
You’re welcome Anar ☺️
Thanking you from Jamaica
Any time ☺️
I would like jumpstart a career in audit. Any tips on how to? Seems its hard to land a job without any experience. Thank you! Love watching your videos.
+Meeko Pascua hi! Graduate recruitment is tough - the key things firms are looking for are:
1. Communication skills
2. Technical skills
3. Communication skills
The key is those communication and other professional skills - how to write your CV in a way that is professional, verbal and non-verbal communication skills (in person, on the phone and via video link like Skype).
If you're having issues getting a job straight after graduation - my suggestion is to get a job in accounting and then attempt to transfer over to auditing.
The other key tip I give my students is internships over the summer break from uni - many Big 4 and smaller firms use these to screen candidates and offer them jobs before they've even graduated :)
I am a fresh graduate and I am hoping to get a job in assurance service, can I send you my CV to review it? I know it os kinda weird :)! . Thanks In advance.
Hello amanda, What the phrase 'those charged with governance' means?
Hi - TCWG is defined as
"The person(s) or organisation(s) (e.g., a corporate trustee) with responsibility for overseeing the strategic direction of the entity and obligations related to the accountability of the entity. This includes overseeing the financial reporting process. For some entities in some jurisdictions, those charged with governance may include management personnel, for example, executive members of a governance board of a private or public sector entity, or an owner‑manager" From ISA 260
thank you
If these videos useful for Audit and assurance of ACCA Course? Please tell me @AmandaLovesToAudit
Hi Ayesha - yes - while the content isn't produced in a way to strictly align with the exact topics - everything I do have is helpful for ACCA audit module :)
When the auditor is giving modified opinion (Disclaimer of Opinion)-is it reasonable assurance as we may be not giving true and fair view due to inability to obtain sufficient appropriate evidence but at the same time we are giving opinion in an "audit" which is said to be reasonable assurance. Thanks in advance Ma'am :) :)
Amanda any chance of reply on this?
too much introduction. that should be another video
It is a full lecture :) If you're looking for videos that are more broken down - my study guide might be a better fit - bit.ly/studyaudit 😊
Hi, l think you are very good at what you do, you make the material very easy to digest and your delivery is very good. l listened to the video and l was impressed. However, you said some unfortunate things regarding Zimbabwe. Firstly you mentioned, incorrectly, that the country does not use standards. To make it worse you even said 'l am pretty sure ...' This comment was made around the 22nd minute.
Apart from this, you then went on to say because so and so is not keen on it. I would have expected as an academic that you would at least be factual about your comments.
Firstly you are encouraging a falsehood, Zimbabwe, does use IAS and ISAs. You can check for yourself on this link from the IFRS org.www.ifrs.org/use-around-the-world/use-of-ifrs-standards-by-jurisdiction/#profiles
On the matter of ISAs www.ifac.org/system/files/uploads/MBD/Basis-of-ISA-Adoption-by-Jurisdiction-August-2012.pdf
Therefore you have not only made totally unfounded and false statements but they are unfortunate because they are coming from someone most people would believe because you are an expert.
As a lecturer you have a very powerful voice especially among young, impressionable people who may not have as much information as you and they would most likely believe all you say without questioning it or independently verifying it. Additionally, as someone who uses youtube, you have a very wide reach which has the potential to reach many people positively or otherwise.
l will be the first to admit Zimbabwe as a state has a lot of issues which need to be resolved and for many people the association is negative. However, not everything that comes from Zimbabwe is bad. Are you are aware that auditors and accountants from Zimbabwe enjoy mutual recognition with many accounting bodies and countries including the UK, South Africa, Hong Kong CPA to name a few. Now, if as you said the standards are not followed how would this be possible?
Furthermore, Zimbabweans have been able to secure work as auditors, accountants in many countries including the States, the UK, Australia and so on, How would this be possible if what you state is true?
l would have thought that you could have at least tried to verify your statements before making them as an auditor l expect more from you in this regard. lmagine if l were a student where you teach, after seeing what you said about my country, l may believe you would be biased to me as a student and a person. l may not feel comfortable in your class because of this perceived bias - real or imagined.
Lastly, l am aware people can and should say what they wish to say, within reason, however, l fail to see how politics and this course are related? l say politics because you mentioned the name of the former president.Had you merely said Z..... then this would not be such an issue. You made it personal when you mentioned him by name. Interestingly when you spoke of all the other countries you did not see the need to do this, is it not a question of double standards? l mean if all these countries are not using the standards, why did you then go on to mention the leader of one of them not anyone else?
If it were history, politics and other such subjects then this would be perfectly acceptable however for an auditing class l am not so sure/
Anyway, that is all l have to say. l believe you may not agree with what l said but hopefully, you can at least try to look at things from another perspective and see how your comments may be construed by others.
Hi ddx ddx
Many thanks for taking the time to write such a detailed reply.
I would be more than happy to include some information based on what you have posted. Would you like to write a new comment describing the introduction and uptake of IFRS and I'll pin it as a "highlighted" comment for everyone to refer to?
Kind regards
Amanda
Hi Amanda
I have produced something, hopefully, it will be useful to someone. It looks at the global picture as at 25 April 2018.
Global Adoption of IFRS
This is a summary of what l understand. .
According to the IFRS Org, there are approximately 166 territories where IFRS have been adopted.
156 of the 166 jurisdictions have made a public commitment to adopting IFRS as a single set of high quality standards. Notable exceptions are Sweden, the Cayman Islands, Bermuda, Belize and Egypt.
Of the 166, 144 jurisdictions require IFRS for all or most public corporations.
12 of the 166 permit IFRS, meaning they can be additional or used in conjunction with another set. A notable country in this category is Japan.
Other interesting facts - only one country is at present going for full adoption being Thailand.
Only seven territories use either national or regional standards. Not surprisingly these are China and the US. Other notables are Macao, Vietnam, Egypt and India.
Some more interesting stats are as follows: Require the use of IFRS.
Europe - 98%
Africa - 95%
Asia + Oceania - 74%
The Americas - 73%
So in summary Europe leads the adoption at 98% followed closely by Africa at 95% which is a surprise.
The laggards are the Americas at 73% and they are bettered by Asia by a very thin margin.
Of the 144 countries a few have already adopted IFRS on a word for word basis or on almost word for word. These include Australia, Hong Kong, New Zealand and South Korea.
The overall picture is very good if we consider the lowest adoption rate is 73% which is almost three quarters.
It is more interesting to see that three of the largest economies in the World being the US, China and Japan either do not use IFRS or they make it optional. If we add India to this mix, it would seem strange that some of the most important countries in the world do not seem to wish to adopt IFRS. It maybe a question of doing what they deem to be in their best interests.
Source: www.ifrs.org/use-around-the-world/use-of-ifrs-standards-by-jurisdiction/#analysis