Course Summary

Duration1 hour

PresenterColm Owens

Course Details 

1 hour – Audit
Speaker – Colm Owens

While the IAASA International Standards on Auditing (Ireland) have been with us for some time now, there are new standards and amendments being rolled out on an ongoing basis.  Auditors need to keep up to date with the fundamentals along with the changes introduced.  The ongoing flood of challenges facing auditors never seems to end. Covid-19 is still very much with us, now we have to contend with Brexit and the global economic uncertainty. Financial Reporting disclosures, asset valuations and going concern are definitely back on the agenda with a bang for 2021. It is essential that auditors now focus on optimising their processes and procedures to ensure profitable implementation of the new standards.

Having helped hundreds of firms navigate the auditing and ethical standards over the years the OmniPro technical team is uniquely positioned to identify the enduring problem areas and provide solutions to the most common challenges faced by practitioners.

This webinar looks at the theory of the standards blended together with the practical challenges and the requirements to comply with the monitoring expectations of the Institutes. This webinar will focus on the practical implementation of the key audit standards in relation to the acceptance, continuance and ethical issues of an audit.  Attendees will obtain an understanding of the objectives and requirements of the standards and example of practical ways in which they may be implemented.  This will help them to ensure that their firms remain compliant with the Standards.

Overview of the key audit standards in relation to the acceptance, continuance and ethical issues of an audit;

  • ISA 200 – Overall Objectives of the Independent Auditor & the Conduct of an Audit;
  • ISA 220 – Quality Control for an Audit;
  • Ethical Standard for Auditors;
  • ISQC1 – Quality Control for Firms that Perform Audits
  • ISA 210 – Agreeing the Terms of an Audit Engagement.

    CDP Course Facilitator:

     

    Colm Owens: Practice Support Executive, OmniPro

    As a member of our Practice Support team, Colm’s focus is on helping practices achieve on-going best practice compliance, prepare for monitoring visits and assist with post-monitoring visits follow-ups.

    Colm brings a unique insight into the whole area of monitoring and compliance having spent the last 6 years as a quality reviewer with Chartered Accountants Ireland.  In that role he has visited firms of differing sizes all over the country which has given him an insight into how firms operate, the challenges facing firms and how firms are responding to current issues facing them and the profession.  He has gained up-to-date knowledge of audit, accounting, money laundering and regulatory compliance issues relevant to the profession and knowledge of current audit methodologies.

    Prior to his time with Chartered Accountants Ireland, Colm’s roles included Audit Manager with Anne Brady McQuillans and Brophy Gillespie, both in Dublin, where he worked with a range of clients from small owner-managed businesses through to larger audit clients.