The effect of Brexit and COVID-19 on imports and exports, the location of staff, increased risks around fraud and estimate and forecast accuracy all affect auditing. Faculty resources are a valuable asset in understanding the problems.
Sir Donald Brydon has reviewed the quality and effectiveness of audit, recommending a three-year rolling audit and assurance policy, and ICAEW is examining how to implement his ideas. Carolyn Clarke reports on the plans.
John Selwood focuses on some of the many questions around audit reports, going concern and COVID-19 issues.
Peter Herbert gives tips for auditors on handling revisions to international auditing standards (ISAs) on going concern and accounting estimates, new ethical standard requirements on long association, new advice on reporting on irregularities and, of c…
Abigail Harper assesses the part internal audit plays in internal control and risk management, as it performs a health check on processes and procedures.