As part of the REPARIS for SMEs regional program for the Western Balkans, experts from the Institute of Chartered Accountants of England and Wales (ICAEW) delivered a series of interactive webinars on the subject of private sector audit and audit inspection.

The first preparatory session helped participants revise best practice in audit and audit techniques. This was followed by sessions on three consecutive days comprehensively covering audit quality assurance inspections. A world-leading inspection methodology was demonstrated in detail with frequent pauses for participants to join in with case studies and discussions.

The first day addressed audit firm selection, pre-visit information gathering and analysis, and planning of the visit. The second day covered the inspection and analysis of firm-wide audit quality policies and procedures in practice and also reviews of audit files themselves. Finally, the third day looked at reporting, overall evaluation, and remedial actions, including sanctions. The training concluded with a test for all participants to assess and review what they had learned.

Over 40 participants joined the course and actively took part in the learning and lively discussions. Feedback was overwhelmingly positive and appreciative.