CPDStore Ireland

Revenue recognition remains one of the highest-risk areas in any audit engagement. The amendments to FRS 102, effective for accounting periods beginning on or after 1 January 2026, introduce a new revenue recognition model closely aligned with IFRS 15, fundamentally changing how many clients will recognise and disclose revenue.

For auditors, this means existing audit approaches to the revenue cycle must be revisited, updated, and stress-tested against a more principles-based framework.

This webinar will provide Irish audit practitioners with a practical, technically grounded guide to auditing the revenue cycle under the revised FRS 102, helping firms manage engagement risk, meet ISA requirements, and deliver confident, well-documented audit conclusions.

Attending this session will strengthen your firm's audit methodology, reduce the risk of material misstatement going undetected, and ensure your teams are fully prepared for the changes now coming into effect across your client portfolio.

Lungi Sepotokele will cover the following topics during this webinar:

• A brief overview of Revenue Recognition Under Revised FRS 102 (Section 23)
• Risk Assessment and Identifying Fraud Risk in the Revenue Cycle
• Designing and Executing Audit Procedures
• Key Judgements, Estimates, and Disclosure Requirements
• Documentation, File Standards, and Common Audit Deficiencies

By attending this session you will be able to:

• Understand the key changes to revenue recognition under the revised FRS 102 and assess the impact on your existing audit clients
• Apply a risk-based approach to planning and executing the audit of the revenue cycle in line with ISA (Ireland) requirements
• Design effective substantive procedures and tests of controls tailored to common FRS 102 revenue streams
• Identify and appropriately respond to significant judgements, estimates, and fraud risks within the revenue cycle
• Produce well-documented, reviewable audit work that meets the quality standards expected by IAASA and professional body reviewers

This session will be of particular interest to audit practitioners. 

Course Level: Advanced / Need to Know

This session combines a technically advanced treatment of revenue recognition under the revised FRS 102 with must-know practical guidance for audit practitioners.

It assumes a working knowledge of audit methodology and financial reporting and will be most valuable to those with existing audit experience who need to update their approach in light of the upcoming standard changes.