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. Between legislation updates and economic uncertainties continue to provide a difficult environment for the profession. Fraud, financial Reporting disclosures, asset valuations and going concern are still on the agenda for 2024. Therefore, now more than ever, it is essential that auditors now focus on optimising their processes and procedures to ensure profitable implementation of the 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.
Areas covered will include:
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 & Revisions to Standards and Audit Quality 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: Audit quality 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;
Course Level: Advanced
Session 2: Planning and Documentation & Risk and Responses
Time: 11:00 – 12:40
Speaker: Colm Owens, Lindsay Webber – OmniPro Practice Support
Session 3: Planning and documentation;
- ISA 300 – Planning an Audit;
- 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: Risks and Responses;
- ISA 240 – Auditors’ Responsibilities Relating to Fraud in an Audit;
- ISA 315 – Identifying and Assessing the Risks of Material Misstatements.
- ISA 330 – Auditors’ Responses to Assessed Risks.
The notes pack will consist of detailed slides and supporting material for each component section of the workshop.
Course Level: Advanced
Session 3: Execution and Evidence Gathering & Completion Phase
Time: 13:40 – 15:20
Speaker: Colm Owens, Lindsay Webber – OmniPro Practice Support
Session 5: Execution and Evidence Gathering;
- ISA 230 – Audit Documentation;
- ISA 500 – Audit Evidence;
- ISA 402 – Audit Consideration Relating to an Entity Using a Service Organisation;
- ISA 501 – Audit Evidence – Specific Consideration for Selected Items;
- ISA 540 – Auditing Accounting Estimates;
Session 6: Completion phase;
- ISA 560 – Subsequent Events;
- ISA 600 – Audits of Group Financial Statements (incl. the WORK of Component Auditors)
- ISA 450 – Evaluation of misstatements identified during the audit
- ISA 550 – Related parties
- ISA 520 – Analytical procedures
Course Level: Advanced
Session 4: Going Concern and Practical Opinion Forming
Time: 15:40 – 17:20
Speaker: Colm Owens, Lindsay Webber – OmniPro Practice Support
Session 7: Going Concern and 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
Course Level: Advanced
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 6 years prior to joining OmniPro 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, providing in-house training, technical assistance, and file reviews.
Lindsay is a member of the South African Institute of Chartered Accountants and Chartered Accountants Ireland. She trained with KPMG in Johannesburg and specialised in external audit of financial services companies. She then spent six years lecturing audit and financial reporting to under-grad and post-grad students at Rhodes University in South Africa before moving to Ireland and returning to practice in a small, and then a medium sized firm where she was an audit manager. Altogether, she has over six years external audit experience along with over six years academic experience specialising in Audit and Financial Accounting. She is passionate about combining her academic and practice backgrounds to provide technical information in a useful and practical way.
Outside of her accounting qualifications Lindsay holds a PGDiploma in Higher Education from Rhodes University and graduated with distinction from the MBA course at Trinity College Dublin. She is currently working towards a Diploma in Forensic Accounting through Chartered Accountants Ireland.
CPD Fest is brought to you in association with Swoop for Advisors.
