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Audit UpdateProduct Code : FD21-1-2-R

Recorded 23rd February 2021.


CPD Hours: 4


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.
€ 120.00