2024-25 Update: Auditing

by Steve Collings

This course explores key current issues in auditing. It looks at control and risk factors key to understanding an entity, examines ISA 320's approach to calculating materiality, explores the IAASB’s targeted revisions proposed for ISA 570 Going Concern and considers an auditor's responsibilities when using the work of an expert.

This course is not currently available

This course will enable you to

  • Keep up to speed with key current issues in audit
  • Recognise the requirements of ISA 315 in understanding the entity
  • Calculate materiality using the approaches outlined in ISA 320
  • Understand the auditor’s responsibilities on going concern
  • Discuss the IAASB’s targeted revisions within ISA 570 Going Concern
  • Follow the process when using the work of an expert as part of an audit

About the course

This update explores current key issues in the auditing profession highlighted by the work of the IAASB.

This course looks at the control and risk factors that are key to understanding an entity, as required by ISA 315 and examines ISA 320's approach to calculating materiality. As well it explores the targeted revisions taking place in ISA 570 Going Concern and considers your responsibilities as an auditor when using the work of an expert, as outlined in ISA 620.

Look inside

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Contents

  • Control and risk
    • Planning an audit
    • ISA 315 issues
    • Assessing general IT controls
    • Audit risk
    • Audit risk and response
    • Fraud
  • Materiality
    • Calculating materiality
    • Determining materiality
    • Common problems
    • Performance materiality
    • Evaluating misstatements
    • Changing materiality
    • Revising materiality
  • Going concern
    • IAASB project on going concern
    • Auditor's responsibilities
    • Responsibilities in auditing going concern
    • The Auditor's Report
    • Reporting implications
    • Common problems found
  • Using the work of an expert
    • Why use an expert?
    • Use of an expert
    • A qualified expert?
    • Specific considerations
    • Documentation on the audit file

How it works

Author

Steve Collings

Steve is Director at Leavitt Walmsley Associates, a firm of Certified Chartered Accountants. He is an internationally recognised speaker, writer and commentator on all matters to do with financial reporting and auditing. Steve is a prolific author, having written over 25 books and currently represents the North West of England on ACCA’s Practice Network Panel.

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