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## Essential Units for Certified Professional in Circular Auditing and Financial Reporting
**1. Conceptual Framework**
* Provides a foundation for understanding the principles and standards of circular auditing and financial reporting.
* Covers ethical considerations, risk management, and internal control.
**2. Understanding the Financial Reporting Framework**
* Familiarizes CPAs with the requirements of International Financial Reporting Standards (IFRS) and other relevant reporting frameworks.
* Includes understanding of financial statements, disclosures, and reporting entities.
**3. Analytical Skills for Financial Reporting**
* Develops critical thinking and analytical abilities to evaluate financial statements and identify potential irregularities.
* Covers data analysis, statistical methods, and risk assessment techniques.
**4. Substantive and Qualitative Analysis**
* Enables CPAs to analyze both quantitative and qualitative financial data to identify trends and patterns.
* Includes understanding of accounting policies, internal controls, and risk assessment.
**5. Ethical and Professional Standards**
* Promotes ethical behavior and compliance with professional standards.
* Covers ethical frameworks, professional conduct, and due professional care.
**6. Risk Management and Internal Control**
* Emphasizes the importance of risk management and internal control in financial reporting.
* Covers risk assessment, control mechanisms, and fraud prevention strategies.
**7. Financial Reporting Standards Board (FRSB) Concepts**
* Provides a comprehensive understanding of the FRSB's pronouncements and interpretations on circular auditing and financial reporting.
* Covers pronouncements on specific industries, disclosures, and ethical considerations.
**8. International Auditing Standards Board (IASB) Standards**
* Introduces CPAs to the International Auditing Standards Board's (IASB) pronouncements on circular auditing and financial reporting.
* Covers International Standards on Auditing and Reporting (ISARs) and other relevant pronouncements.
**9. Specialized Knowledge in Certain Industries**
* Depending on the chosen specialization, CPAs may need to possess knowledge and skills in specific industries, such as healthcare, technology, or financial services.
**10. Continuous Learning and Professional Development**
* Emphasizes the importance of staying updated on the latest developments in circular auditing and financial reporting.
* Includes participation in continuing education courses, conferences, and webinars.