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Audit and Beyond October 2021

In this issue: We look at how climate-related risks can affect the audit of financial statements, A landmark standard for less complex entities is on the way, How auditors' responsibilities regarding fraud are being clarified, What auditors and SMEs need to know about COVID-19 and credit risks, we look at ways to raise and sustain audit quality, some key issues coming before ICAEW's Audit Registration Committee and John Selwood revisits queries on COVID-19 and going concern.

Climate change and financial statements
Auditors increasingly need to consider how climate risks may have an impact on financial statements. Lesley Meall shares some key thoughts.

Auditing Less Complex Entities
ICAEW welcomes IAASB's initiative and the timely development of a new standard for auditing less complex entities.

Fraud and audit
Auditors need to consider how their work may be affected by recent and forthcoming revisions to auditing standards on fraud.

Credit ratings and COVID19
Credit referencing and ratings are being influenced by pandemic-related factors, giving SME companies and their auditors plenty to think about.

Improving audit quality
There are many ways of raising and sustaining audit quality and many ICAEW resources to help firms on their journey.

ICAEW Audit Registration Committee concerns
A look at some of the issues that are coming before the Audit Registration Committee.

John Selwoods question corner
As we head into the next busy season for auditors, John considers your recent questions on going concern and offers some helpful tips.



Audit & Beyond October 2021

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