Course Details

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 course provides 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.

 

Lungi Sepotokele covers the following topics during this session:

  • 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

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CPD Course Speaker

Technical Executive

Lungi Sepotokele

Lungi trained with PwC in Johannesburg and specialised in external audit of mining companies. She completed part of her training as an academic at Wits University where she completed her Master of Commerce degree. Lungi has worked in external audit in Canada as an audit senior and Ireland as an audit manager.

Outside of her accounting qualifications Lungi is a hobby baker who volunteers by baking for the homeless in Dublin City