Audit Evidence & Execution and Other Key Standards and Areas 2023
Category: Audit | Date: 16/02/2023 10:00 | Duration: 100 mins | Tag: CAUWIE23D2S1 | Type: Webinar | Speaker: Colm Owens, Lindsay Webber
Course Details
While the IAASA International Standards on Auditing (Ireland) have been with us for some time now, there are new standards and amendments being rolled out on an ongoing basis. Auditors need to keep up to date with the fundamentals along with the changes introduced. The ongoing flood of challenges facing auditors never seems to end. As we’re gradually seeing the back of Covid-19, we still have to contend with impact of Brexit and the global economic uncertainty. Financial Reporting disclosures, asset valuations and going concern are still on the agenda for 2023. With updates to ISA 240 (Fraud) & ISA 315 (Risk Assessment) & the roll-out of ISQM1 there is so much that auditors need to get a grip with. Therefore, now more than ever, it is essential that auditors now focus on optimising their processes and procedures to ensure profitable implementation of the new standards.
Having helped hundreds of firms navigate the auditing and ethical standards over the years the OmniPro technical team is uniquely positioned to identify the enduring problem areas and provide solutions to the most common challenges faced by practitioners. This workshop looks at the theory of the standards blended together with the practical challenges and the requirements to comply with the monitoring expectations of the Institutes.
This workshop will focus on the practical implementation of the new auditing and associated ethical standards – from communications, planning and procedures right through to execution, reporting and opinion forming.
Areas covered will include:
Session 5: Audit Evidence & Execution;
- ISA 230 – Audit Documentation;
- ISA 500 – Audit Evidence;
- ISA 402 – Audit Consideration Relating to an Entity Using a Service Organisation;
- ISA 450 – Evaluation of Misstatements Identified During the Audit;
- ISA 501 – Audit Evidence – Specific Consideration for Selected Items;
- ISA 505 – External Confirmations;
- ISA 510 – Initial Audit Engagements – Opening Balances;
- ISA 520 – Analytical Procedures;
- ISA 540 – Auditing Accounting Estimates;
- ISA 550 – Related Parties.
Session 6: Other Key Standards and Areas;
- ISA 560 – Subsequent Events;
- ISA 580 – Written Representations;
- ISA 600 – Audits of Group Financial Statements (incl. the WORK of Component Auditors)
- ISA 610 – Using the Work of Internal Auditors;
- ISA 620 - Using the Work of an Auditor’s Expert;
The notes pack will consist of detailed slides and supporting material for each component section of the workshop
CPD Course Speaker
OmniPro
Colm Owens
As a member of our Practice Support team, Colm’s focus is on helping practices achieve on-going best practice compliance, prepare for monitoring visits and assist with post-monitoring visits follow-ups.
Having spent the 6 years prior to joining OmniPro as a quality reviewer with Chartered Accountants Ireland Colm has a unique insight into how firms operate, the challenges facing firms and how firms are responding to current issues facing them and the profession.
Having spent the 6 years prior to joining OmniPro as a quality reviewer with Chartered Accountants Ireland Colm has a unique insight into how firms operate, the challenges facing firms and how firms are responding to current issues facing them and the profession.
OmniPro Strategic Solutions
Lindsay Webber
As a head of Strategic Solutions at OmniPro, Lindsay’s focus is on helping practices achieve on-going best practice compliance, providing in-house training and technical assistance in audit and financial reporting.
Lindsay is a member of the South African Institute of Chartered Accountants and Chartered Accountants Ireland. She trained with KPMG in Johannesburg and specialised in external audit of financial services companies. She then spent six years lecturing audit and financial reporting to under-grad and post-grad students at Rhodes University in South Africa before moving to Ireland and returning to practice in a small, and then a medium sized firm where she was an audit manager. She is passionate about combining her academic and practice backgrounds to provide technical information in a useful and practical way.
Outside of her accounting qualifications Lindsay holds a PGDiploma in Higher Education from Rhodes University, an MBA from Trinity College Dublin and a Diploma in Forensic Accounting from Chartered Accountants Ireland.
Lindsay is a member of the South African Institute of Chartered Accountants and Chartered Accountants Ireland. She trained with KPMG in Johannesburg and specialised in external audit of financial services companies. She then spent six years lecturing audit and financial reporting to under-grad and post-grad students at Rhodes University in South Africa before moving to Ireland and returning to practice in a small, and then a medium sized firm where she was an audit manager. She is passionate about combining her academic and practice backgrounds to provide technical information in a useful and practical way.
Outside of her accounting qualifications Lindsay holds a PGDiploma in Higher Education from Rhodes University, an MBA from Trinity College Dublin and a Diploma in Forensic Accounting from Chartered Accountants Ireland.