Auditing & Ethics

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ISAs (International Standards on Auditing) Annual Technical Update (2 days)

Course Details

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  • The International Auditing and Assurance Standards Board (IAASB) maintains a project list with the intention of continuous review and improvement of the International Standards on Auditing and related standards. Since the completion of the clarity project in 2009, the IAASB has undertaken and completed a number of key projects to enhance and improve standards, resulting in some significant changes to audit reporting and communication, and integration with ethics and professional skepticism.
  • The IAASB’s current focus areas with respect to their efforts are namely, Sustainability, Auditors Reporting, Quality Management, Auditing of Less Complex Entities, Auditing of Estimates, COVID Guidance and Technology.

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 two-day course is designed to enable auditors to comply with this requirement by providing a refresh of the standards, leading into an update and practical discussion of changes to the suite of standards resulting from projects completed from 2014 to date.

The program answers questions such as:

  • How should assurance providers perform approach Extended External Reporting Engagements?
  • Are you on track with implementing the new Quality Management Standards?
  • Are you up to date on the revised and updated standard ISRS4400 Agreed-Upon-Procedures?
  • What clarifications and Amendments have been made to ISA 600 Group Audits and special considerations of auditing group financial statements, including the work of component auditors?
  • Modern auditing is risk based, so how does ISA315 (revised) address identifying and evaluating risks of material misstatements?
  • The International Financial Reporting Standards (IFRS) have embraced estimates in many of their Standards in recent years, how do auditors ensure that they have appropriate and sufficient evidence when dealing with these transactions?
  • What are the requirements for communicating with those charged with governance (including communicating deficiencies in internal controls)?
  • What was the objective of the IAASB’s auditor reporting project, 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 are the current global trends in quality control review findings and how do I use these to improve quality control compliance?

Learning Objectives

After attending this course you will be able to:

  • Understand what changes have recently taken place in the form and content of the ISAs and other assurance engagement standards
  • Understand the new requirements in major areas
  • Understand the new requirements of the IESBA Code in the context of ISA250 and NOCLAR
  • Develop audit documentation to evidence the compliance with the ISAs and comply with the quality control requirements of ISA220 and ISQC 1, as well as the Code of Ethics
  • Help others within your country or firm implement the new standards

Who Should Attend

  • Public practitioners who audit, or play a substantial role in auditing, public company financial statements
  • Auditing professionals not performing the attest function, who need to maintain continuous professional development and technical competence in auditing


  • Introduction - In this session we will provide an overview IAASB’s projects since 2014, including the auditor reporting, disclosures and NOCLAR projects.
  • ISA 250 - Consideration of laws and regulations in the audit of financial statements, integrating this with the new requirements of the IESBA’s new Code of Ethics for Professional Accountants
  • ISA 260 and ISA 265 relating to communication with those charged with governance and communication of deficiencies in internal control with those charged with governance
  • The course deals in depth with the current audit reporting model set out in ISA 700, 701, 705 and 706, including a discussion of the significant additions and changes to these standards and their intention and impact as a result of the IAASB’s auditor reporting project. The changes in these standards also resulted in revisions to ISAs 260 and 570
  • The course provides a brief overview of the current auditing standards in the ISA800 series and other forms of assurance, for example ISRE 2400 Engagements to review historical information and ISAE 3000 (Revised) Assurance Engagements Other Than Audits or Reviews of Historical Financial Information
  • Global trends in quality control review findings
  • ISA220 – Quality control for an audit of financial statements, integrating with significant provisions and practical implications from ISQC 1
  • ISA315 (R) Identifying and Assessing the Risk of Material Misstatements
  • ISA540 Auditing Accounting Estimates and Related Disclosures
  • ISRS 4400 Agreed-Upon-Procedures
  • ISA 600 Group Audits (Special Considerations of auditing group financial statements including component auditors)

Teaching Method

  • Group live instruction by an experienced lecturer in the subject of auditing.
  • Interactive participation, group work, open discussions
  • A case study to help apply the NOCLAR and auditor reporting requirements
  • All participants will receive a comprehensive binder containing copies of the presentation slides, handouts and other course materials


The instructor for this course will be drawn from one of our core faculty of subject matter experts. Further details will be published at the earliest opportunity.


Our seminars take place in professional conference facilities, usually situated within a carefully chosen and well-located hotel. We use prestigious brands such as Radisson Blu, Hilton and Marriott.

Detailed Joining Instructions are sent to all registered delegates by email approximately one month before the event. The Joining Instructions will confirm exact venue details and nearby (or onsite) hotel recommendations with bedroom rates where available. Refreshments and lunch are provided at our events.

CPE/CPD Accreditation

IASeminars is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.


Field of study: Accounting


A practical understanding of auditing. No advance preparation is required for this course.