The International Auditing and Assurance Standards Board (IAASB) completed its clarity project and issued standards effective for periods commencing on or after 15th December 2009 which resulted in a revision of all the standards. Since then, a number of key projects to enhance and improve the standards have been undertaken and completed, resulting in some significant changes to audit reporting and communication, and integration with ethics and professional skepticism.
The requirement in ISA 200 that “the auditor shall have an understanding of the entire text of an ISA, including its application and other explanatory material, to understand its objectives and to apply its requirements properly” imposes a challenge for audit firms to ensure that its partners and staff have that knowledge.
This five-day course is designed to enable auditors to comply with this requirement by providing a detailed overview of the International Standards on Auditing (ISAs) issued by the IAASB and the changes to the suite of standards resulting from projects completed from 2014 to date.
The program answers questions such as:
- How do I plan an audit under ISAs?
- How do I assess and respond to audit risk?
- What are the requirements for communicating with those charged with governance?
- What are the requirements for communicating deficiencies in internal controls with those charged with governance?
- What are the new requirements for audit reporting and how do these impact the audit process?
- How does NOCLAR impact my role and responsibilities as an auditor?
- What is coming up in environmental scanning?