The Financial Reporting Council (FRC) issued major revisions to its Ethical Standard in December 2019. These changes came into effect on 15 March 2020 and aimed to strengthen auditor independence, prevent conflicts of interest and improve audit quality.
Webinar Information
The audit profession has now had over two years to digest, understand and apply this Revised Ethical Standard. This Audit and Assurance Faculty webinar will draw on one firm’s experience with applying the key changes introduced in the revisions, explore some of the requirements in more detail and highlight the more recent emerging issues for firms to consider.
The webinar will cover:
- Two years on – what we have learned, including application of the Objective, Reasonable and Informed Third Party test
- Horizon scanning - anticipated changes down the road
- Role & mindset
- Ethical issues around remote working
- Non-Financial Conduct – professional behaviour in & out of work
Resources
Links mentioned in the webinar
- FRC’s Ethical Standard
- FRC’s Glossary of Terms
- Audit Firm Culture: Challenge, Trust, Transformation
- CCAB Guidance on Boundaries of Personal and Professional Life in Ethics
- FRC’s Professional Judgement Guidance
- IESBA Role & Mindset
Speakers
David Isherwood - Ethics Partner BDO
Rupak Vasishta - Director Ethics team BDO
First Broadcast 18 July 2022
