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 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 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:
- 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?