Theoretical Training
THEORETICAL TRAINING PROGRAMME ORGANISED BY ASPAAS AS PART OF THE TRAINEESHIP IN STATUTORY AUDIT
(THEORETICAL TRAINING CURRICULUM)
I. Legal provisions
Under the legal provisions, the theoretical training of trainees covers, over a period of 3 years, the following fields of study:
A. Fields providing technical competences:
A.1. Audit – international standards
A.2. Accounting:
A.2.1. Financial accounting and reporting – national and international standards
A.2.2. Cost and management accounting
A.3. Corporate governance, risk management and internal control
A.4. Taxation
A.5. Information technology, mathematics and statistics
A.6. Civil law and business law
A.7. Finance and financial management
B. Fields providing professional skills
B.1. Communication and marketing
B.2. Personal development
C. Fields providing professional values, ethics and attitudes
C.1. ISQC
C.2. Code of Ethics
C.3. Behavioural ethics
II. THEORETICAL TRAINING CURRICULUM
Training MODULES for YEAR 1 of the traineeship
- A.1) Audit
- The regulatory environment – national and international
- Ethical requirements for statutory audit
- Types of engagements
- Fundamentals of statutory audit engagements
- Audit of financial statement items:
- Audit of intangible assets
- Audit of long-term tangible assets
- Audit of financial assets and short-term investments in financial instruments, where IFRS is applied)
- A.2) Accounting
- Financial accounting and reporting – national standards, OMFP No 1802/2014
- A.3) Corporate governance, risk management and internal control
- A.5) Information technology, mathematics and statistics
- C.2) Code of Ethics
| Subject | No of hours/ Module | Online courses |
|---|---|---|
| A.1) Audit | 15 | See Part A here See Part B here See Part C here See Part D here |
| A.2) Financial accounting and reporting, OMFP 1802/2014 | 15 | See Part A here See Part B here See Part C here |
| A.3) Corporate governance, risk management and internal control | 5 | See here |
| A.5) Information technology, mathematics and statistics | 5 | See here |
| C.2) Code of Ethics | 5 | See here |
| Total hours | 45 |
Training MODULES for YEAR 2 of the traineeship
- A.1) Audit
- Audit of financial statement items
- Audit of inventories and of non-current assets held for sale, where IFRS is applied
- Audit of receivables
- Audit of cash
- Audit of trade and other payables
- Audit of payroll receivables and payables
- Audit of taxes and duties
- Audit of equity
- Audit of long-term loans
- Audit of provisions and other liabilities
- Audit of other assets
- Audit of revenue and sales
- Audit of expenses and purchases
- Audit of the profit and loss account
- Audit of cash flows
- A.2) Accounting
- Financial accounting and reporting – international standards
- A.4) Taxation
- A.6) Civil law and business law
- C.1) ISQC
| Subject | No of hours/ Module | Online courses |
|---|---|---|
| A.1) Audit | 15 | See Part A here See Part B here See Part C here |
| A.2) Financial accounting and reporting – international standards | 10 | See Part A here See Part B here |
| A.4) Taxation | 10 | See Part A here See Part B here |
| A.6) Civil law and business law | 5 | https://zoom.us/rec/share/yv5wcZXAyWhJG5Xhx26HYfV-QKHcaaa80CBM_PsNzko5PeZS6pyfVWZkA4_1YWHQ Password:1y&#.r$0 |
| C.1) ISQC | 5 | See Part 1 here See Part 2 here |
| Total hours | 45 |
Training MODULES for YEAR 3
- A.1) Audit
- Audit of groups of companies
- Audit of entities in regulated sectors (NBR, FSA)
- Audit of companies whose securities are admitted to trading on a regulated market.
- Internal audit
- A.2) Accounting
- Preparation and presentation of consolidated financial statements in accordance with OMFP No 1802/2014 and IFRS
- Cost and management accounting
- A.7) Finance and financial management
- B.1) Communication and marketing
- B.2) Personal development
- C.3) Behavioural ethics
| Subject | No of hours/ Module | Online courses |
|---|---|---|
| A.1) Audit | 15 | See Part A here See Part B here See Part C here |
| A.2) Accounting
Preparation and presentation of consolidated financial statements in accordance with OMFP No 1802/2014 and IFRS Cost and management accounting |
10 | See Part A here See Part B here |
| A.7) Finance and financial management | 10 | See Part A here See Part B here See Part C here |
| B.1) Communication and marketing | 5 | |
| B.2) Personal development | 5 | |
| C.3) Behavioural ethics | 5 | |
| Total hours | 50 |
THEORETICAL TRAINING ORGANISED BY ASPAAS AS PART OF THE TRAINEESHIP IN STATUTORY AUDIT
I. Legal provisions
In accordance with Article 6 of the Rules on theoretical training and practical training in statutory audit, approved by Order of the ASPAAS President No 150/2018, as updated on 20 March 2023, the theoretical training of trainees covers the following fields of study:
- Audit – international standards
- accounting:
2.1. Financial accounting and reporting – national and international standards
2.2. Cost and management accounting
- Corporate governance, risk management and internal control
- Taxation
- Financial analysis
- Professional ethics and independence
II. Theoretical training coursesă
| Subject | Online courses |
|---|---|
| Code of Ethics – changes to the international independence standards | https://www.youtube.com/watch?v=IR0Nygu5u08&t=1s |
| ISA 320 on materiality in statutory audit engagements | https://www.youtube.com/watch?v=Dhhu5iON3ak |
| Implementation of ISQM and ISA 220 | https://www.youtube.com/watch?v=KSMzyS6NvuU |
| Financial accounting and reporting, OMFP 1802/2014 | See Part A here See Part B here See Part C here |
| Financial accounting and reporting – international standards | See Part A here See Part B here |
| Accounting Preparation and presentation of consolidated financial statements in accordance with OMFP No 1802/2014 and IFRS Cost and management accounting |
See Part A here See Part B here |
| Corporate governance, risk management and internal control | See here |
| Finance and financial management | See Part A here See Part B here See Part C here |
Please note that, as of March 2023, the theoretical training of trainees may be recognised by ASPAAS under the conditions laid down in Article 7 of the Rules on theoretical training and practical training in statutory audit, which you can access here: link
