1 hour – Audit
Speaker – Colm Owens & Mike O’Halloran
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. Covid-19 is still very much with us, now we have to contend with Brexit and the global economic uncertainty. Financial Reporting disclosures, asset valuations and going concern are definitely back on the agenda with a bang for 2021. 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 webinar 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 webinar will focus on the practical implementation of the key audit standards in relation to the acceptance, continuance and ethical issues of an audit. Attendees will obtain an understanding of the objectives and requirements of the standards and example of practical ways in which they may be implemented. This will help them to ensure that their firms remain compliant with the Standards.
Overview of the key audit standards in relation to the acceptance, continuance and ethical issues of an audit;
- ISA 200 – Overall Objectives of the Independent Auditor & the Conduct of an Audit;
- ISA 220 – Quality Control for an Audit;
- Ethical Standard for Auditors;
- ISQC1 – Quality Control for Firms that Perform Audits;
ISA 210 – Agreeing the Terms of an Audit Engagement.
Mike O’Halloran: Practice Support Executive, OmniPro
Mike, a member of our Practice Support team, is a qualified Chartered Accountant and Chartered Tax Advisor. He is responsible for carrying out hot file reviews, cold file reviews, annual compliance reviews, in-house training & supporting firms on a day to day basis.
Formerly a quality reviewer with Chartered Accountants Ireland, this role saw him visiting firms of various sizes across Ireland conducting audit, non-audit and anti-money laundering visits. Prior to this he spent 12 years working in small and medium sized practices. In these roles, Mike has gained a comprehensive knowledge of the profession and has worked with a broad range of clients across many industries.