Introduction to Financial Statements

• Purpose and importance of financial statements in public sector operations.
• Key components: balance sheets, income statements, and cash flow statements.
• Overview of financial reporting standards relevant to the public sector.

Analyzing Financial Statements

• Techniques for evaluating financial health and performance.
• Understanding ratios, trends, and variances.
• Identifying key performance indicators (KPIs) and their significance.

Detecting Anomalies and Red Flags

• Common irregularities in financial statements and their implications.
• Tools for spotting errors, inconsistencies, and potential fraud.
• Case studies of financial misreporting in the public sector.

Evaluating Compliance and Accuracy

• Ensuring adherence to financial reporting standards and regulations.
• Assessing internal controls over financial reporting.
• Evaluating the reliability and completeness of financial data.

Linking Financial Analysis to Audit Objectives

• Using financial insights to prioritize audit focus areas.
• Supporting risk assessments with financial data.
• Formulating recommendations to improve financial management.

Reporting Financial Insights

• Structuring audit reports to highlight key financial findings.
• Communicating complex financial concepts clearly to non-technical audiences.
• Using visuals and data presentation tools to enhance report impact.

Case Studies and Practical Exercises

• Real-world examples of financial statement analysis in audits.
• Hands-on activities to analyze and interpret financial data.
• Group discussions on challenges and best practices in financial audits.

Enhanced Practical Experience:
Participants will engage in interactive workshops to analyze sample financial statements, identify irregularities, and link financial insights to audit objectives. Exercises will focus on calculating financial ratios, detecting anomalies, and drafting clear, actionable audit findings. Case studies will showcase successful financial audits, providing participants with practical tools and techniques to apply in their roles.

Delivered by the Oxford Institute of Education and Training, this course ensures participants gain the confidence and expertise to leverage financial statement analysis in audits, enhancing accountability and governance in public sector operations.