The Complete Audit Workshop
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. As we’re gradually seeing the back of Covid-19, we still have to contend with impact of Brexit and the global economic uncertainty. Financial Reporting disclosures, asset valuations and going concern are still on the agenda for 2022. With updates to ISA 240 (Fraud) & ISA 315 (Risk Assessment) & the roll-out of ISQM1 there is so much that auditors need to get a grip with. Therefore, now more than ever, 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 workshop 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 workshop will focus on the practical implementation of the new auditing and associated ethical standards – from communications, planning and procedures right through to execution, reporting and opinion forming.
Registering for CPD Fest 2022 couldn’t be more straightforward. We have three packages for you to choose from – 8 hours, 16 hours and 24 hours of CPD – allowing you to customise the event to your own specific needs. Once purchased, pick ‘n’ mix the topics of most interest and relevance to you from any of the sessions running across the week of CPD Fest 2022.
CPD Fest Packages:
The 12 Gifts Of CPD Fest
Over the coming weeks we are going to give you advance access to hugely valuable extracts from the note packs The CPD Fest & The Essential Advisors’ Mix.
With The 12 Gifts of CPD Fest you will get guides, financial statements, checklists, tools, tax papers, letters of engagement and reports all the way up to and including the kitchen sink!
Registration for The 12 Gifts Of CPD Fest is free, quick and straight forward and you can do so here:
Event Details:
Session 1: Audit Overview and Revisions to the Standards & Acceptance, Continuance and Ethics
Time: 09:00 – 10:40
Speaker: Colm Owens, Lindsay Webber – OmniPro Practice Support
Session 1: Audit Overview and Revisions to the Standards;
Session 2: Acceptance, Continuance and Ethics;
- 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 on the Terms of an Audit Engagement.
Session 2: Audit Planning & Risk Assessment and Responses
Time: 11:00 – 12:40
Speaker: Colm Owens, Lindsay Webber – OmniPro Practice Support
Session 3: Audit Planning;
- ISA 300 – Planning an Audit;
- ISA 260 – Communication with TCWG;
- ISA 250A – Consideration of Laws and Regulations in an Audit;
- ISA 320 – Materiality in Planning and Performing an Audit;
- ISA 530 – Audit Sampling.
Session 4: Risk Assessment and Responses;
- ISA 240 – Auditors’ Responsibilities Relating to Fraud in an Audit;
- ISA 315 – Identifying and Assessing the Risks of Material Misstatements.
- ISA 265 – Communicating Deficiencies in Internal Control to TCWG;
- ISA 330 – Auditors’ Responses to Assessed Risks.
Session 3: Audit Evidence & Execution and Other Key Standards and Areas
Time: 13:40 – 15:20
Speaker: Colm Owens, Lindsay Webber – OmniPro Practice Support
Session 5: Audit Evidence & Execution;
- ISA 230 – Audit Documentation;
- ISA 500 – Audit Evidence;
- ISA 402 – Audit Consideration Relating to an Entity Using a Service Organisation;
- ISA 450 – Evaluation of Misstatements Identified During the Audit;
- ISA 501 – Audit Evidence – Specific Consideration for Selected Items;
- ISA 505 – External Confirmations;
- ISA 510 – Initial Audit Engagements – Opening Balances;
- ISA 520 – Analytical Procedures;
- ISA 540 – Auditing Accounting Estimates;
- ISA 550 – Related Parties.
Session 6: Other Key Standards and Areas;
- ISA 560 – Subsequent Events;
- ISA 580 – Written Representations;
- ISA 600 – Audits of Group Financial Statements (incl. the WORK of Component Auditors)
- ISA 610 – Using the Work of Internal Auditors;
- ISA 620 – Using the Work of an Auditor’s Expert
Session 4: Going Concern and Audit Opinions & Practical Opinion Forming & Review of Live Audit Reports
Time: 15:40 – 17:20
Speaker: Colm Owens, Lindsay Webber – OmniPro Practice Support
Session 7: Going Concern and Audit Opinions;
- ISA 700 – The Unqualified Audit Opinion
- ISA 570 – Material Uncertainty Due to Going Concern
- ISA 706 – Emphasis of Matter Paragraphs & Other Matter Paragraphs & First Time Audits
- ISA 705 – Modified Opinions; Limitation of Scope, Adverse & Disclaimers of Opinion
- ISA 701 – Key Audit Matters;
- ISA 710 – Comparative information
- ISA 720 – Auditors Responsibility for Other Information.
Session 8: Practical Opinion Forming & Review of Live Audit Reports.
- Live Audit Opinion Review
The notes pack will consist of detailed slides and supporting material for each component section of the workshop
CPD Course Facilitators
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.
Lindsay Webber - OmniPro Practice Support
As a member of our Practice Support team, Lindsay’s focus is on helping practices achieve on-going best practice compliance, prepare for monitoring visits and assist with post-monitoring visits follow-ups.
Lindsay is a qualified Chartered Accountant and trained with KPMG in Johannesburg. She has over six years external audit experience along with over six years academic experience specialising in Audit and Financial Accounting.
CPD Fest 2022 is brought to you in association with Xero.
