Audit and Beyond February 2021
In this issue: We look at going concern where the faculty's virtual event got to grips with the big audit and accounting issues that are coming. How the AuditFutures initiative is signposting the path ahead. Why reporting accountants may want to review their approach to SRA Account Rules. Katharine Bagshaw looks at the case for a new standard for less complex entities. John answers your questions on revised standards and ISA 315 revised thinks about risk differently.
Going concern and resilience lessons learned from Covid-19
Our virtual event offered answers to some of the big audit and financial reporting questions that auditors and preparers will be considering over the coming months.
Building a modern audit profession
A timely report from the ICAEW-hosted AuditFutures initiative offers principles for building a modern audit profession.
Exploring Solicitors Regulation Authority Accounts Rules
Reporting accountants may benefit from reviewing their approach to Solicitors Regulation Authority Accounts Rules assignments.
Why an auditing standard for less complex entities is needed
An auditing standard for less complex entities is needed, and fast, explains Katharine Bagshaw.
John Selwood's audit corner
John digs into the details of some revised standards, including the Revised Ethical Standard 2019 and ISA (UK) 570.
A new approach to risk assessment
Auditors will need to start thinking about risk differently, explains Alex Russell.