Audit Manual Package (International)
Our Audit Manual Package (International) provides you with all the programmes, documents and guidance needed to undertake an audit under the International Standards on Auditing (ISAs) and the Code of Ethics.
The package includes:
- a separate Audit Manual (International) including all the current and permanent file programmes needed to undertake both a single entity audit and a group audit;
- a file review checklist;
- a separate Audit Procedures Manual (International) containing supporting audit methodology and guidance; and
- online audit methodology training.
Our Audit Manual Package (International) can be browsed online or sections of content or commentary can be downloaded in Microsoft word or PDF. There is also the flexibility to ‘customise’ a download suitable for your engagement. For every new assignment, you will need to navigate to our website to obtain the most up to date version.
- Guidance notes that provide you with a background as to how to use the manual and a what’s changed letter identifying all changes from the previous version of the manual.
- Current file documentation comprising of two separate packs of documentation for audit and group audit. The audit documentation provides you with the planning, completion and detailed work programmes needed to undertake an audit. Lead schedules and a current file index are also included.
- Permanent file documentation that provides a structure for your permanent files and outlines the information required which is of continuing importance to an audit over a number of years.
- Supplementary forms that provide additional resources that may be useful for certain scenarios, including a file review checklist.
- This subscription also includes the Audit Procedures (International) Manual which includes guidance on general audit procedures such as the planning, controlling, recording and completion of audit work. It also includes specific procedures by audit area, for example, revenue and receivables, and sets out the Mercia approach used within the programmes contained in your Audit Manual. There are also sections on Ethics and Audit Regulation & Quality Management. This manual will need tailoring by firms for their own internal policies and procedures.
January 2024
The principal technical changes in this update include:
- Removal of content for periods commencing before 15 December 2021 as this is no longer relevant; and
- Best practice amendments.
August 2023
The principal technical changes in this update include:
- Changes in relation to ISA 600 Special considerations - Audits of group financial statements (Including the work of component auditors);
- The introduction of a new (optional) statistical sampling approach; and
- The introduction of a set of guidance notes specifically tailored for companies.
February 2023
The principal technical changes in this update include the removal of content relating to the now superseded ISQCs and consequential amendments arising as a result of this.
In addition, a number of minor amendments / improvements have been made to other sections of the package.
April 2022
This major update to the methodology principally incorporates:
- ISA 315 (Revised December 2019) Identifying and assessing the risks of material misstatement.
- Consequential amendments as a result of the new quality management standards.
- Best practice amendments.
December 2021
The principal technical changes in this update relate to best practice amendments from internal review and client feedback.
April 2021
A number of changes have been throughout the manual to encourage teams to consider the use of audit data analytics (ADA) on audit engagements. These changes principally focus on the use of ADA as part of the risk assessment, selection of high risk transactions for testing and stratification of populations to assist with sampling, although teams are encouraged to consider its use in other areas, with revisions to planning forms providing prompts for you to record its planned use. Given the audit quality and efficiency gains which can provided by the use of ADA, a new planning form (B20) has been added for teams to appraise its use on engagements and record why ADA was or was not considered appropriate to use. Where the use of ADA is intended, a number of other revisions have been made throughout the manual to help you record and reflect on the results from its use.
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Mercia Members receive a 10% discount.
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