Articles written by practitioners and ICAEW staff in the area of Group audits.
Know your limit
Professional risks cannot be eliminated, but they can be managed. Christopher Arnull introduces new ICAEW guidance that can help.
Leaping into action
Audit teams don’t always identify, assess and respond to risk appropriately. Stacey Hillyard shows us the hoops to be jumped through.
Learning from Goliath
Smaller firms can learn from the challenges faced by the world’s largest networks
Small firm big challenge
Auditor competencies can be a huge topic even for smaller audit firms. Gill Spaul takes a look at recruitment, development and support.
One of the subjects most frequently raised by regulators and other file reviewers is the work fulfilled by auditors to comply with ISA 315 Identifying and Assessing the Risks of Material Misstatement Through Understanding the Entity and its Environment.
Focus on relevance
Audit quality and efficiency are not mutually exclusive on smaller entity audits, as Christiana Diola and John Selwood explain
The world is changing, society’s requirements are changing and the profession needs to change too. Martin Martinoff explains how AuditFutures is leading the way
All change please
The IAASB’s new and revised auditor reporting standards are an opportunity for audit firms to show innovation, respond to investors’ needs and demonstrate the value of audit, says Chris Cantwell
Behind the scenes
This article looks at how auditors of small entities need to understand the design and implementation of internal controls, even when they take a fully substantive approach to risk assessment.
Interact; It's good to talk
Identifying who is charged with governance, ensuring appropriate communication takes place and demonstrating this on the audit file are vital to the success of smaller entity audits, as Adrian Gibbons outlines.
Devil in the detail
ISA 200 overall objectives of the independent auditor and the conduct of an audit in accordance with international standards on auditing includes an explicit requirement for an auditor to plan and perform an audit with professional scepticism. Demonstrating professional scepticism that has been applied in the audit can provide challenges such as fraud, related parties and accounting estimates.
Big questions small audits
These Q&As discuss some of the issues associated with the idea of proportionality as it is applied to audits that are conducted using International Standards on Auditing (ISA).
FRS 102 and the new UK GAAP
The transition to the new UK GAAP and FRS 102 prompted an interesting question during the recent roadshows of the Audit & Assurance and Financial Reporting Faculties. John Selwood focuses solely on the role auditors might play during this change.