Revisions to audit standards- Practical implementation of the changes

The Financial Reporting Council is overhauling its suite of UK auditor standards as a result of a post-implementation review of its 2016 standards and wider calls to strengthen requirements placed upon auditors.

In this session, we take a look at the practicalities of implementing changes arising from revisions to standards that are effective for audits of financial statements with periods commencing on or after 15 December 2019.

Content:

• Background to the changes
• Ethical Standard 2019
• ISA (UK) 570 revised: Going concern
• ISA (UK) 540 revised: Accounting Estimates
• ISA (UK) 315 revised: identifying an assessing the risks of material misstatement
• Other changes to ISA - effective for December 2020 year ends