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2021 editions of Audit & Beyond. The monthly magazine from the ICAEW Audit and Assurance Faculty.
2020 editions of Audit & Beyond. The monthly magazine from the ICAEW Audit and Assurance Faculty.
ICAEW's Audit and Assurance Faculty brings you the latest technical updates on developments in auditing and assurance, financial reporting and ethics.
This webinar will provide attendees with an overview of ICAEWs recommendations for developing an audit and assurance policy, based on proposals included in Brydon’s report on the quality and effectiveness of audit.
ISA 315 (Revised) Identifying and assessing risk is effective for audit of financial statements for periods beginning on or after 15 December 2021.
The UK transition period ended on 31 December 2020. Join Donna Wilcox, RSM and Paul Winrow, MHA MacIntyre Hudson, as they discuss how the end of the Brexit transition period impacts auditor’s work.
Join Isabelle Campbell for a short session on maintaining the wellbeing of yourself and your teams this audit busy season.
Join Simon Kettlewell and Andrew Jarvis from HAT Group, as they discuss the changes to the standard and offer practical tips for applying the revised standard in the current environment.
Join Gill Spaul (Moore Global) and David Smith (Azets) for the first of a series of quality management webinars, as they discuss the requirements and how firms can be proactive.
Solicitors Regulation Authority (SRA) Accounts Rules: Accountant’s Reports for full reporting periods after 25 November 2019 (TECH 01/21 AAF) is a Technical Release published by ICAEW’s Audit and Assurance Faculty. It provides practical guidance for accountants reporting to the SRA under the SRA Accounts Rules effective from 25 November 2019.
Solicitors Regulation Authority (SRA) Accounts Rules – Guidance for reporting accountants following the 2019 changes (TECH 03/20 AAF) is a Technical Release published by ICAEW’s Audit and Assurance Faculty. It provides practical guidance for accountants reporting to the SRA under the SRA Accounts Rules effective from 25 November 2019.
ATOL Reporting Accountants - Reporting to the Civil Aviation Authority (TECH 02/20 AAF) is a Technical Release published by ICAEW’s Audit and Assurance Faculty.
Assurance reports on internal controls of service organisations available to third parties (TECH 01/20 AAF) is a Technical Release published by ICAEW’s Audit and Assurance Faculty.
ICAEW’s Audit and Assurance Faculty answers members' common practical questions about how to audit inventory given the mandatory closure of many businesses and restrictions of movement across the world.
This Audit and Assurance Faculty Know-How guide explores COVID-19 issues faced by UK group auditors with overseas component auditors. It offers practical considerations in relation to the work of component auditors to address the requirements in ISAs (UK). It may also be relevant for group auditors in other jurisdictions with similar requirements.
ICAEW’s Internal Audit Panel has identified eight risk areas where boards and audit committees should be asking themselves whether they are receiving the objective assurance they need amid increased public scrutiny.
When performing audits of financial statements, it is important that you identify all relevant accounting estimates to which the requirements in ISA 540 (Revised) Auditing accounting estimates and related disclosures apply. This Audit and Assurance guide provides information and guidance on how to spot accounting estimates and not overlook the more obvious ones in your audit.
Accounting estimates are increasingly common in financial statements and, by their very nature, can be challenging for auditors to audit.
Auditors are required to obtain written representations from management. Written representations are primarily dealt with in ISA 580. This guide addresses auditors’ questions about what written representations are required and the complications that might arise.
This guide outlines the requirements on communicating with those charged with governance in an ISA audit. The guide answers common questions from auditors on meeting these requirements, including: how to apply them to smaller entities and how to decide which deficiencies are significant. This guidance is particularly important for auditors applying ISA 260 (Revised) and ISA 265.
The term “management override” refers to the ability of management and/or those charged with governance to manipulate accounting records and prepare fraudulent financial statements by overriding these controls, even where the controls might otherwise appear to be operating effectively. This guide looks at how auditors assess the risk of management override and their response to it.
There are many documentation requirements in International Standards on Auditing but the extent of documentation of judgement is a particularly critical area for auditors. This guide helps auditors understand why professional judgement is important and the extent to which they need to document it.
A response dated 19 March 2021 to a consultation published by FRC on 22 December 2020.
A response dated 1 March 2021 to a consultation published by FRC in October 2020.
A response dated 16 February 2021 to a consultation published by FRC on 27 November 2020.
A response dated 29 January 2021 to a consultation published by FRC on 20 October 2020.
A response dated 1 February 2021 to a consultation published by IAASB on 15 September 2020.
A response dated 21 December 2020 to a consultation published by the IFRS Foundation in September 2020.
Since it was established in 2004, Audit Quality Forum (AQF) has encouraged open and constructive debate amongst stakeholders about how to improve audit. Find out more about the AQF’s legacy and the wealth of material produced by the AQF with the support of BEIS, ICAEW and the FRC.
Auditors bringing their knowledge of market sectors and business issues for the benefit of wider stakeholders, and alerting practitioners to some of the issues they should consider when planning their audits.
ICAEW’s AuditFutures is an innovative and collaborative initiative, an action-research programme that uses interdisciplinary thinking, design-led processes and interactive workshops to reimagine the audit profession.
As discussions about the future of audit continue to evolve, the Audit and Assurance Faculty intends to influence the debate through a series of succinct, high-level thought leadership essays that consider a range of issues directly or indirectly relevant to the debate.