Format
This 3.5 hour session will be delivered via Zoom on Thursday 10 October from 9.30am to 13:00 pm. The Zoom link will be emailed to participants the day before the course is due to take place.
Who should attend
This course is suitable for accountants, auditors, and other business professionals, both from small and mid-sized practices and in business, from across the island of Ireland.
Course overview
The key auditing related issues that will be covered during this session will include:
-
Audit Planning, including how recent key changes to ISA 315 (Risk of Material Misstatement) will impact your work in this area, as well as your Controls Testing,
-
Audit Quality Management under ISQM, the lessons learned since implementation of these requirements in December 2022 and how to now refine your QM system,
-
How to achieve the right balance between Controls & Substantive Testing,
-
Going Concern requirements under ISA 570,
-
Group Audits, the challenges you face, and the improvements that can be made to your audit work. The revised ISA 600 will also be discussed,
-
Incomplete Audit Evidence & the new ISA 505,
-
Sustainability Assurance – what is coming?
-
Impacts of upcoming changes to FRS 102 & 105, as well as Company Size, Threshold & Audit Exemption Rule Changes on your audits,
-
Other points to consider, such as the key points to remember when undertaking a first-year audit and how the Ethical Standards impact on your audits,
-
Typical areas for improvement in the audit of SMEs, as identified by both the Institute Professional Standards and Practice Consulting teams;
-
Reporting to Regulatory bodies should the need arise (e.g., Anti-Money Laundering, Fraud or Company Law issues).
-
How best to employ the Institute Procedures for Quality Audit (PQAs), as well as our ISQM Resource Pack, will also be referenced during this session, with useful examples included.
Key Learning Outcomes
Appreciate the key auditing issues for micro, small and medium sized companies that have arisen over recent months and how to address these.
-
How best to employ the Institute PQAs and ISQM Resource Pack in your audits/practice.
Speaker Bios
Conal Kennedy - Conal is Head of Practice Consulting in Chartered Accountants Ireland. He and his team provide advice and support to practices throughout Ireland, and publish a range of practice toolkits covering audit, accounting and compliance. Over a 17 year period in Practice Consulting, Conal has coached and advised many practices through major change events such as mergers, acquisitions and retirements. He has also advised on practice development and marketing.
Jeremy Twomey-Jeremy in his role as Practice Consulting Manager works to support our member practitioners across our service areas, with a particular focus on compliance support, training and our associated advisory services. Jeremy is a Fellow of the Institute, having trained with Ernst & Young; he has held senior management positions across both financial and professional services, as well as the public sector.
Key Event Details:
Originally recorded on 10 October 2024
Location: Zoom
CPD Credit: 3.5 hours
Make savings on your CPD with Training Tickets. For more information, click here.