Course Description

The financial statements of a corporation, which are prepared based on applicable financial reporting standards, contain important information that are commonly used by a multitude of users – shareholders, potential investors, lenders, regulators, business associates and the general public for various decision-making purposes.

As such, the financial statements are a crucial element of any business. Besides providing financial information about a corporation or business, the financial statements may also indicate significant risks that users should take note of based on the information reported. In this e-learning session, we will review and examine significant risks that could be found in information presented and disclosed in financial statements, as well as through the audit opinions on the financial statements issued by the auditors in their report. 

Learning Outcomes:

• Understand the general purpose and limitations of financial reporting based on applicable financial reporting standards;
• Review and assess significant risk that can be identified in the statement of financial position, statement of comprehensive income and statement of cash flows;
• Review and assess significant risk that can be identified in accompanying notes to the financial statements;
• Understanding significant risk of the financial statements based on the auditors’ opinions in their report.