Northern Society of Chartered Accountants

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New audit standards = new audit file? Practical problems in applying revised ISAs and Ethical Standards for auditors

Revisions to ISAs and Ethical Standards for Auditors are due to be applied soon. Audit regulators continue to criticize the application of the old standards.

In this seminar we consider the changes being introduced, the issues identified by regulators and offer practical suggestions to enable cost effective compliance with the revised standards.

Content will include:

• ISAs
• Overview of changes
• Problem areas in existing ISAs
  • Assessing and responding to risk
  • Audit of accounting estimates
  • Related parties
  • Going concern
  • Opening balances and comparative figures
• Practical implications for audit files
  • Ethical Standards for Auditors
• Overview of changes
• Problem areas in existing standards
  • Provision of non-audit services
  • Long association with client
  • Contingent fees