Audit Update with Colm Divilly, Professional Education Seminars

This seminar will cover:

• Impact of the pandemic on audit assignments. Among the matters considered will be:
  • Significance of financial year end date when considering the impact of the pandemic on financial statements.
  • Uncertainty in relation to the ability of the client company to continue as a going concern.
  • Considering the possible impairment of assets as a result of the economic consequences of the pandemic.
  • Impact of the pandemic on the ability of the auditor to obtain audit evidence.
  • Audit issues arising from the receipt by the client company of government assistance.
• Impact of Brexit on audit assignment, including audit risks to consider in companies significantly impacted by Brexit.
• Review of Compendium of Illustrative Auditor’s Reports as issued by IAASA in 2020.
• Review of Revised International Standard on Auditing (ISA) 570: Going concern.
• Review of Revised International Standard on auditing 540: Auditing Accounting Estimates and Related Disclosures.
• The Companies (Statutory Audits) Act 2018: Review of Firms obligation to establish effective procedures within the firm for employees to report relevant contraventions or suspected relevant contraventions.
• Common weaknesses in audit files.
• Actions to bring about improvements in auditing standards within the firm.

Key Event Details:

Recorded on: 23rd February 2021
CPD Credit: 4 hours

Make sure that you input your CPA member ID as the attendee when booking.

Please note, you cannot claim CPD credit for the same event more than once. Please ensure you have not previously attended this event before purchasing the recording.