Audit hot topics and FAQs from the Audit and Assurance Faculty roadshows, 11th December 2019

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Audit hot topics and FAQs from the Audit and Assurance Faculty roadshows, 11th December 2019

This webinar from the ICAEW Audit and Assurance Faculty, presented by John Selwood and moderated by Alex Russell, covers hot current topics in auditing. It includes discussions on changes to ISA 570 regarding going concern (UK FRC revisions), ISA 540 auditing accounting estimates and the need for stronger professional scepticism, group audits and component auditor involvement under the EU Audit Directive and ISA 600. The session also highlights findings and practical lessons from ICAEW QAD monitoring, the 2019 report on common audit weaknesses, and forthcoming developments such as ISA 315, ethical standards, quality management, ARGA, and the Bryden Review. Practical points discussed include audit report wording, short period audits, testing cash flow forecast arithmetic, treatment of service organisations, and efficiently updating methodologies and templates. (AI generated description)

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title: Audit hot topics and FAQs from the Audit and Assurance Faculty roadshows, 11th December 2019

creator: John Selwood

creator: Alex Russell

creator: ICAEW

description: This webinar from the ICAEW Audit and Assurance Faculty, presented by John Selwood and moderated by Alex Russell, covers hot current topics in auditing. It includes discussions on changes to ISA 570 regarding going concern (UK FRC revisions), ISA 540 auditing accounting estimates and the need for stronger professional scepticism, group audits and component auditor involvement under the EU Audit Directive and ISA 600. The session also highlights findings and practical lessons from ICAEW QAD monitoring, the 2019 report on common audit weaknesses, and forthcoming developments such as ISA 315, ethical standards, quality management, ARGA, and the Bryden Review. Practical points discussed include audit report wording, short period audits, testing cash flow forecast arithmetic, treatment of service organisations, and efficiently updating methodologies and templates. (AI generated description)

publisher: ICAEW

date: 2019-12-11

type: Moving Image

format: mp4

identifier: ON24/2084212

language: en

subject: Auditing standards

subject: Audit and assurance

subject: ISA 570 Going concern

subject: Audit best practice

subject: Financial reporting and accounting standards

subject: Audit process