Chartered Accountants in Huddersfield

This webpage considers some FAQ on the new International Standard on Assurance Engagements (UK) 3000 (July 2020): Assurance Engagements Other Than Audits Or Reviews Of Historical Financial Information published by the Financial Reporting Council (FRC) in July 2020.

The 2021 Training Providers’ Meeting included presentations and Q&A panels on upcoming revisions to ISAs UK and a monitoring session covering recent areas of focus

This guide is designed to explain the main changes that are needed to the separate audit reports of a group and parent company compared to that of a company only.

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.

John Selwood focuses on some of the many questions around audit reports, going concern and COVID-19 issues.

Sir Donald Brydon has reviewed the quality and effectiveness of audit, recommending a three-year rolling audit and assurance policy, and ICAEW is examining how to implement his ideas. Carolyn Clarke reports on the plans.

The Audit and Assurance Faculty Board oversees the work of the faculty and its various technical committees. Comprising representatives from across the audit profession, each faculty board member brings with them a wealth of knowledge and understanding of the current and future issues affecting the audit profession.