ISAs publications and technical material.
At the smaller end of the spectrum, we look at the 'other' financial instruments that FRS 102 has brought onto the balance sheet, such as the 'floating to fixed' interest rate swaps widely sold by banks to many entities prior to 2008, that now have high negative values. At the larger end, it deals with the complex instruments tailored for specific clients for specific purposes sold by boutiques to larger entities.
The salient issue in both cases is the availability of sufficient, appropriate audit evidence, because there is often no market for either type of instrument, and the only evidence can often appear to be the bank's own valuation.
This article does not cover credit risk, which is also an important element in the valuation of financial instruments and the audit thereof.
This is a guide to some of the more challenging aspects of group audits performed in accordance with International Standard on Auditing 600, Special considerations - audits of group financial statements (including the work of component auditors).
To complement the Right First Time with the Clarified ISAs guide, the ISA Implementation sub-group has produced a series of webinars based on individual modules within the guide. The webinars are all short, stand-alone modules lasting between 10 and 20 minutes. They can be listened to on an individual or group basis to support firms' clarified ISA training programmes.
This guide is designed to help medium-sized and smaller firms meet the challenge presented by the clarified ISAs.
This guide to International Standards on Auditing is designed to help firms in all jurisdictions meet the challenge presented by the clarified ISAs. Clarified ISAs provide many opportunities for practitioners in terms of potential efficiencies, better documentation, better reporting to clients, and enhanced audit quality overall. It has been developed by practitioners serving on ICAEW's ISA implementation sub-group to help firms implement the clarified ISAs and take advantage of these opportunities.
This Spanish version of the guide to International Standards on Auditing is designed to help firms in all jurisdictions meet the challenge presented by the clarified ISAs.
This publication is an international version of the ICAEW Audit and Assurance Faculty guide on quality control for audit firms issued in September 2010.
This is a revised edition of our practical guide for firms on ISQC (UK and Ireland) 1 which is effective for engagements relating to periods ending on or after 15 December 2010.
This publication, originally issued as an exposure draft in September 2008, provides practical guidance for members in the form of a five-point action plan on planning, consideration of risk, understanding the company's internal controls, designing procedures to response to risks, and completion procedures.
Held on 18 May 2011, this webinar from our Practice Support Services team answers the most common questions asked by practitioners about clarified ISAs. It is aimed at Responsible Individuals and audit staff.
In this webinar, held on 23 February 2011, Catherine Woodthorpe and Graham Bale from our Clarified ISA Coaching team discuss some common concerns raised by firms in their adoption of the clarified ISAs and suggest practical ways in which these can be addressed.
The webinar is principally aimed at audit principals, managers and staff who are involved in the audits of small and medium-sized entities.
The CCAB Training Providers Forum was held on 11 November 2009 and it has made available the slides and other technical material from the event.
Developed by IAASB staff, each of these modules explains the key principles of, and major changes in, individual ISAs, including the implications for audits of small- and medium-sized entities. These focus on some of the new and more significantly revised ISAs.Applying ISAs proportionately with the size and complexity of an entity
The publication highlights how the design of the ISAs issued under the Clarity Project enables them to be applied in a manner proportionate with the size and complexity of an entity. The publication is particularly relevant to those who audit, or oversee the audits of, small- and medium-sized entities.
In support of the Adoption and Implementation Support initiative, this article has been issued by IFAC staff to help SMPs apply ISAs in a cost-effective manner.
This guide provides non-authoritative guidance on applying the redrafted ISQC 1. It is a supplement to help practitioners understand and consistently implement this standard within their firms when developing a system of quality control for audits and reviews of financial information, and other assurance and related service engagements.
This paper has been prepared to assist those seeking to understand the main changes that have recently been made to the International Standards on Auditing (ISAs) (UK and Ireland).
It is designed to explain the background to the development of IAASB ISAs, explain the IAASB due process for the drafting and completion of ISAs, comment on the IAASB's recently completed Clarity Project, look at the requirements of the European Statutory Audit Directive, consider the practical issues relating to the use of ISAs, particularly in relation to Small- and Medium-sized Entities (SMEs), and reflect the views of the International Federation of Accountants (IFAC), IAASB and FEE on the implementation of ISAs.
The Canadian Auditing Standards (CAS) are virtually identical to the clarified ISAs. Anyone can register to view the archived material.