Recorded 23rd February 2021.
CPD Hours: 4
This seminar will cover:
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Impact of the pandemic on audit assignments. Among the matters considered will be:
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Significance of financial year end date when considering the impact of the pandemic on financial statements.
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Uncertainty in relation to the ability of the client company to continue as a going concern.
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Considering the possible impairment of assets as a result of the economic consequences of the pandemic.
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Impact of the pandemic on the ability of the auditor to obtain audit evidence.
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Audit issues arising from the receipt by the client company of government assistance.
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Impact of Brexit on audit assignment, including audit risks to consider in companies significantly impacted by Brexit.
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Review of Compendium of Illustrative Auditor’s Reports as issued by IAASA in 2020.
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Review of Revised International Standard on Auditing (ISA) 570: Going concern.
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Review of Revised International Standard on auditing 540: Auditing Accounting Estimates and Related Disclosures.
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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.
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Common weaknesses in audit files.
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Actions to bring about improvements in auditing standards within the firm.
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