Institute of Chartered Accountants of the
Maldives (CA Maldives) has organized its first training “International
Standards on Auditing and SMP Toolkit” in partnership with the Institute of
Chartered Accountants of Sri Lanka (CA Sri Lanka) for individuals and firms
interested in applying for statutory audit license. The training was given to a
total of 72 participants. This includes 53 individuals interested to apply for
audit licensing and 19 individuals who were trained for regulatory purposes at
CA Maldives, and statutory audit purposes of AGO.
Organized pursuant to the requirement in
section 2, article 3(4) of the Statutory Audit Licensing Regulation, this
training is recognised as the Public Practice Training for CA Maldives
Statutory Audit Licence. Covering areas such as Audit Planning, Risk
Assessment, Evidence Gathering and Execution, Conclusion and Reporting, the
training is conducted by facilitators from KPMG, Ernst & Young, BDO
Partners and Deloitte. This is a mandatory training in order to be eligible to
apply for audit license from CA Maldives. Under the regulation those auditors
who has the existing audit license should complete the training within the next
2 years. As such a training may not be organized very frequently, CA Maldives
recommends all interested individuals to take part in the training.
After the establishment of CA Maldives, the
Statutory Audit Licensing function which was previously monitored by Auditor
General’s Office is now under the mandate of CA Maldives.