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Statutory Audit License training organized by Chartered Accountants of the Maldives

25 Jan 2021

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.