2023-24 Update: Audit

by Steve Collings

Is everyone at your firm aware of the latest changes to the International Standards on Auditing? This update will help to ensure that you are on top of some key aspects, from quality management, to obtaining sufficient audit evidence in contentious areas, and delivering the appropriate audit opinion.

This course is not currently available

This course will enable you to

  • Stay on top of recent updates to the International Standards on Auditing, and the new International Standards on Quality Management.
  • Recognise the ongoing issues with the auditing of going concern assessments, and plan to meet evidence and reporting requirements.
  • Understand the complexities involved when auditing revenue, the statement of cash flows, related parties and property revaluations.
  • Ensure that the auditor’s report contains the most appropriate audit opinion, and any other required information.

About the course

As auditing becomes more specialised and more responsibility is placed on the auditor, the International Standards on Auditing (ISAs) are going through some changes.

This course examines the latest changes to the ISAs, including the new International Standards on Quality Management, ISQM 1 and ISQM 2.

It also looks at some of the more contentious areas of audit that cause problems for firms, including specific issues with audit evidence highlighted by file reviewers, and how to ensure the auditor’s report and the audit opinion is appropriate.

Look inside

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Contents

  • Recent changes
    • ISQMs in brief
    • ISQM 1 and ISQM 2
    • Revisions to ISA 220
    • Revisions to ISA 315
    • Going concern and audit
    • The importance of going concern
  • Going concern assessments
    • General issues
    • Frequent problems
    • Accounting standards
    • Reporting considerations
  • Common problems
    • Key issues with audit evidence
    • The statement of cash flows
    • Avoiding pitfalls
    • Related parties
    • Assets measured at revaluation
  • The auditor's report
    • Forming an audit opinion
    • Appropriate audit opinion
    • EOM paragraphs

How it works

Author

Steve Collings

Steve is Director at Leavitt Walmsley Associates, a firm of Certified Chartered Accountants. He is an internationally recognised speaker, writer and commentator on all matters to do with financial reporting and auditing. Steve is a prolific author, having written over 25 books and currently represents the North West of England on ACCA’s Practice Network Panel.

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This course is not currently available. To find out more, please get in touch.