Andrew and Simon deliver webinar for ICAEW

It was great to be asked by ICAEW to deliver a webinar recently on Implementing ISA 540 (Revised) in the 2020/21 reporting season. 

Andrew provided a reminder of the revised Standard and then discussed the risk assessment requirements, including the need to use inherent risk factors and consider the spectrum of inherent risk. 

Simon then looked at the practical considerations around how estimates have been affected by the pandemic and Brexit, followed by a discussion around the documentation requirements, including how to evidence the application of professional scepticism.

Members of the ICAEW’s Audit & Assurance Faculty can access a recording of the webinar here