Course Summary

Duration8 hours

PresenterVarious

Course Overview

Session 1: Audit Overview And Revisions To The Standards & Acceptance, Continuance And Ethics

Time: 09:00 – 10:40
Speaker: Colm Owens – OmniPro Practice Support 

Colm Owens of OmniPro Practice Support will be covering the following topics:

Part 1: Audit Overview and Revisions to the Standards;  

Part 2: Acceptance, Continuance and Ethics: 

  • 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. 

Session 2: Audit Planning & Risk Assessment And Responses

Time: 11:00 – 12:40 
Speaker: Colm Owens – OmniPro Practice Support  

Part 3: Audit Planning;  

  • ISA 300 – Planning an Audit;  
  • ISA 260 – Communication with TCWG; 
  • ISA 250A – Consideration of Laws and Regulations in an Audit;  
  • ISA 320 – Materiality in Planning and Performing an Audit; 
  • ISA 530 – Audit Sampling.

Part 4: Risk Assessment and Responses;  

  • ISA 240 – Auditors’ Responsibilities Relating to Fraud in an Audit; 
  • ISA 315 – Identifying and Assessing the Risks of Material Misstatements.   
  • ISA 265 – Communicating Deficiencies in Internal Control to TCWG;  
  • ISA 330 – Auditors’ Responses to Assessed Risks.  

Session 3: Audit Evidence & Execution And Other Key Standards And Areas

Time: 13:40 – 15:20  
Speaker: Colm Owens – OmniPro Practice Support  

Part 5:  Audit Evidence & Execution;  

  • ISA 230 – Audit Documentation; 
  • ISA 500 – Audit Evidence; 
  • ISA 402 – Audit Consideration Relating to an Entity Using a Service Organisation; 
  • ISA 450 – Evaluation of Misstatements Identified During the Audit; 
  • ISA 501 – Audit Evidence – Specific Consideration for Selected Items; 
  • ISA 505 – External Confirmations; 
  • ISA 510 – Initial Audit Engagements – Opening Balances; 
  • ISA 520 – Analytical Procedures;  
  • ISA 540 – Auditing Accounting Estimates; 
  • ISA 550 – Related Parties.

Part 6: Other Key Standards and Areas;  

  • ISA 560 – Subsequent Events; 
  • ISA 580 – Written Representations; 
  • ISA 600 – Audits of Group Financial Statements (incl. the WORK of Component Auditors)  
  • ISA 610 – Using the Work of Internal Auditors; 
  • ISA 620 – Using the Work of an Auditor’s Expert 

Session 4: Going Concern And Audit Opinions & Practical Opinion Forming & Review Of Live Audit Reports

Time: 15:40 – 17:20   
Speaker: Colm Owens – OmniPro Practice Support

Part 7: Going Concern and Audit Opinions; 

  • ISA 700 – The Unqualified Audit Opinion 
  • ISA 570 – Material Uncertainty Due to Going Concern 
  • ISA 706 – Emphasis of Matter Paragraphs & Other Matter Paragraphs & First Time Audits 
  • ISA 705 – Modified Opinions; Limitation of Scope, Adverse & Disclaimers of Opinion 
  • ISA 701 – Key Audit Matters; 
  • ISA 710 – Comparative information 
  • ISA 720 – Auditors Responsibility for Other Information.

Part 8: Practical Opinion Forming & Review of Live Audit Reports. 

  • Live Audit Opinion Review

The notes pack will consist of detailed slides and supporting material for each component section of the workshop 


CPD Course Facilitators

Colm Owens – OmniPro Practice Support

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.

Having spent the last 6 years as a quality reviewer with Chartered Accountants Ireland Colm has a unique insight into how firms operate, the challenges facing firms and how firms are responding to current issues facing them and the profession