Audit Update and insight in to monitoring reviews

A two part session looking at Auditing Updates and Common Issues when conducting Auditing Reviews.

09:30 - 12:30: Audit Update

13:30 - 15:30: Common issues of Audit Monitoring Reviews

The regulatory landscape for auditors remains tough with the expectations of ACCA inspectors rightly extremely high. This course will update you on all recent regulatory developments and highlights key tips and traps when performing SME audits. You will also have the opportunity to ask your questions to the ACCA Compliance Team and better understand how to avoid common issues.

Audit Update outline

• Audit exemption thresholds – current rules and changes in the pipeline
• ISA 315 & 240 revised 12 months on – what we observed in practice
• Sampling and materiality – top tips and what can go wrong
• Auditing groups – common issues and how to fix them
• Problem areas from audit cold file reviews – our top 10
• Refresher on resignation
• Common audit ethics dilemmas in smaller firms

Insight in to monitoring reviews outline

Audit monitoring review process:

• Arranging the review
• Getting ready for your review
• Undertaking and concluding the review
• Preparing a root cause analysis and action plan
• Compliance with ACCA’s CPD requirements and IES8
• Common audit issues identified
• Audit planning
• Audit evidence
• Audit completion
• Ethical breaches
• ISQM
• Overview of ISQM
• Deficiencies in ISQM in first year of implementation
• Year two - Monitoring and remediation

You will walk away from the session with a good grasp of all the important regulations in this area, ensuring that your firm is fully compliant with ACCA requirements.

This event was recorded on 20 May 2024. 

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Fee: 125 GBP + VAT (150.00 GBP) per person

5 CPD units

1 hour of learning = 1 unit of CPD.

ACCA members can use this learning to meet their CPD requirements provided it is relevant to their career. If the event contributes to general knowledge and skills, it should be recorded as non-verifiable CPD. If the learning can be applied in the workplace, it will contribute to verifiable CPD.

This event is organised by ACCA UK Continuous Learning Team.

If you have any queries regarding this event please contact us on: