A view of whats ahead for auditors this year and beyond
A recent gathering of training providers offers insights into what's on the horizon for auditors.
Back in January, the faculty hosted its annual event for training providers and developers of audit software methodology to highlight future plans, discuss good practices and explore a range of topical challenges and issues in auditing and assurance. It covered significant ground, and in 2020 we can expect to see:
Inspection grades have fallen short of Financial Reporting Council (FRC) targets in recent years. Key findings include the need for improvements on estimates and judgements. This covers corroboration and challenge for key assumptions, including those relating to going concern.