The core of ILPA are several case studies that shine light on different aspects of accounting and auditing:
CASE STUDY: Financial Statement Analysis (Due Diligence, Planning, Valuation)
- Perform a comprehensive financial due diligence.
- Set up a forecast of the financial situation for the next 2 years (expected profits; expected assets, debt and equity) as a part of the business plan.
- Make reasonable and defensible assumptions about the long term prospects of a company as the basis for company valuation (on a stand-alone basis).
- Identify differences between a stand-alone market value and the value for a specific investor.
CASE STUDY: International Financial Reporting Standards (IFRS)
- Analyse and record nine different complex transactions in the accounts.
- Prepare the statement of comprehensive income for the period.
- Prepare the statement of financial position (balance sheet) for the year end.
- Prepare the statement of changes in equity for the period.
CASE STUDY: Auditing – Client Acceptance Decision
- Understand the types of information relevant for evaluating a new audit client.
- List some of the steps an auditor should take in deciding whether to accept a prospective client.
- Identify and evaluate factors important to the client acceptance decision.
- Understand the process of making and justifying a recommendation regarding client acceptance.
CASE STUDY: Auditing – Materiality & Risk Assessment
- Identify business risks for the air transport service sector.
- Identify and evaluate the factors important in assessing an audit client’s business risk and the risk of material misstatement.
- Identify and understand the implications of key inherent and business risks associated with a new client.
- Determine planning materiality for an audit client.
- Provide support for your materiality decisions.
CASE STUDY: Corporate Social Responsibility (CSR)
- To become familiar with the internet sources from which CSR information from the companies can be collected.
- To identify relevant information within the CSR disclosures published by the companies. The decision making group in BA will use this information to choose the partner for the M&A that has a similar strategy in CSR.
- To improve the knowledge about CSR reporting, by completing a comparative table about the information made available by the airlines and duly fit in the G4 (the latest Global Reporting Initiative guideline).
- To practice how to analyse and assess CSR information.