Remote auditing – revising audit approaches and risk assessments
The spread of the coronavirus pandemic (COVID-19) resulted in the rapid adoption of remote working, including remote auditing techniques. This extract from the Audit and Assurance Faculty Know-How guide 'Remote auditing in practice' focuses on revising audit approaches and risk assessments.
Changes to the audit approach and risk assessment necessitated by COVID-19 may involve consideration of:
Changes to the risk assessment seem likely at many levels for many businesses, particularly in relation to asset valuations and going concern. This is not a list of all potential changes, rather, it highlights issues auditors may need to consider when performing risk assessments for audits of financial statements for accounting periods ending on or after 31 December 2019.
Continue reading
This content is not freely available. To access 'Remote auditing – revising audit approaches and risk assessments' you need to be one of the following:
ACA student
This content is available to ACA students. If you want to start the ACA qualification there are several routes you can take
Audit and Assurance Faculty
Stay ahead of the curve with our expert guidance, trusted technical resources and practical insights.