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Recent Changes to ISAs

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Recent Changes to ISAs

Date: Thursday, 22 April 2021
Time: 12:30 - 13:30
Speaker: Edward Rands – ECR Professional Ltd
Three important auditing standards are revised, effective December 2020.

Going concern assessment underpins every audit. ISA 570 is revised to strengthen the audit approach.

ISA 540 (accounting estimates) enhances requirements in an already demanding standard. Its approach displays a roadmap for all areas of the audit.

ISA 700 sees new reporting requirements, including discussion of the ability to detect irregularities.

Join Edward Rands of ECR Professional Ltd as he covers the following topics:
  • ​Changes to the auditor’s assessment of Going Concern introduced by the revised ISA 570;
  • ​The new requirements for the audit of Accounting Estimates brought about by revisions to ISA 540;
  • ​The relevance of the new concepts in ISA 540 to forthcoming revised standards, notably ISA 315 on Risk Assessment;
  • ​The new requirement in all audit reports for tailored wording on irregularities, introduced by the revised ISA 700;
  • ​An overview of the ongoing impact of current “big issues”, including Brexit and Covid-19, and a look at some further changes to auditing standards which are on the horizon.

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Recent Changes to ISAs
Date: Thursday, 22 April 2021
Time: 12:30 - 13:30

Des O'Neill - ProfitPro

I am an accountant just like you, but I believe, and always have believed that there is a better way for accountants to run their businesses, so they get exactly what they want.

Over the past 15 years, I have worked with thousands of firms. I have seen how the best practices operate, and the mistakes that firms most commonly make. This experience has inspired me to develop my unique Accountant’s Six-Step Success Path.

I am now dedicating my life to sharing my Accountant’s Six-Step Success Path with as many accountants as possible, ensuring their businesses are more profitable and less stressful. 

It would be an honour to work with you, to guide you on your path to improving your firm's results while reducing your workload and helping you fall in love with your business again.

Edward Rands – ECR Professional Ltd

Edward Rands was for eleven years the Risk and Professional Standards partner at a large independent firm of chartered accountants. 

Amongst various regulatory responsibilities, he was the firm’s Audit Compliance Principal, and also led the firm’s technical team, dealing with audit, accounting and company law requirements. 

He now works as an independent consultant, advising firms on technical and regulatory matters.

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