Chartered Accountants in Huddersfield

These resources are intended to help auditors in applying and demonstrating a sceptical mind set in their audits.

Auditors’ judgements on promises of financial support may be easier to make with the assistance of faculty guidance.

File reviews can highlight opportunities to enhance audit quality and effectiveness, particularly when conducted by external reviewers and/or combined with root cause analysis. Auditors share insights and practical tips on how to get the most from them.

Isabelle Campbell shares tips on staying positive under the pressure of the year-end period. Plus a round-up of wellbeing resources from CABA and ICAEW.

Setting audit materiality during the coronavirus crisis can be challenging, with considerations including alternative benchmarks, evaluation of misstatements and increased risk of fraud. Louise Sharp, Technical Manager at the Audit and Assurance Faculty, offers pointers and introduces the new faculty guidance.

Blockchain technology offers continuous, real-time accounting, makes fraud more difficult and will be a valuable tool for all stakeholders. Alexis Nicolau argues its importance for the audit profession and its future.

A comprehensive list of standards and guidance covering external assurance engagements. Find out which standards apply for engagements by subject area, as well as information on individual standards and the practical application of guidance to assurance engagements.

COVID-19 is having a profound effect on many businesses and we can expect to see this continue into future financial reporting periods. Whether businesses are experiencing a temporary downturn as a result, or more radical changes, COVID-19 is likely to impact how materiality in audits is determined by auditors and the choice of benchmarks used.

In October 2020 the Audit and Assurance Faculty held its first global, virtual, cross-faculty event, Going concern and resilience: lessons learned from COVID-19. It offered answers to some of the big audit and financial reporting questions that auditors and preparers will be considering over the coming months.

Our roundup of regulatory news.