1 hour – Financial Reporting
Colm Owens & Mike O’Halloran
For many accountancy firms, audit-exempt engagements are an important part of their business. With increased focus from the Institutes on these engagements a part of the monitoring visit it is vital that firms keep up to date on the various aspects of these engagements and avoid the pitfalls. This webinar will revisit the audit-exemption criteria and go through what type of work and documentation is required and considered best practice. We will also take a look at financial reporting for audit-exempt engagements and consider the impact of Covid-19 on both the financial statements and the file and finally, look at what are the common pitfalls in relation to audit-exempt files on monitoring visits.
Topics covered will include;
- Audit-exempt criteria & who can claim audit-exemption;
- Audit-exempt files – the requirements;
- Audit-exempt financial statements;
- Covid-19 considerations for audit-exempt engagements;
- Monitoring visits – common issues.
Colm Owens – OmniPro Practice Support
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 last 6 years 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
CPD Course Facilitators:
Mike O’Halloran – OmniPro Practice Support
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.