The changes in the auditor reporting standards issued by the IAASB are effective for reporting periods ending on or after 15 December 2016.
This course addresses all of the changes for both listed AND non-listed entities, except for key audit matters (which are applicable to listed entities only and are addressed in the companion course Enhanced auditor reporting: key audit matters).
The changes covered in this course relate to:
- Enhanced work effort on going concern
- The revised content and structure of the auditor’s report
- Enhanced responsibilities for other information provided within the annual report
Auditors need to understand these changes in order to:
- Amend their auditor’s report templates
- Identify any differences which need to be made to their audit methodology
This one hour online course forms part of the FastClass short course suite.
Learning objectives
- Identify and explain the changes in the requirements and application material relating to auditor reporting in the auditing standards issued by the International Auditing and Assurance Standards Board (except for key audit matters)
- Identify and apply changes to the structure and content of the auditor’s report
- Identify and implement changes to the work effort and reporting on going concern matters
- Explain and develop processes to comply with the new responsibilities in relation to other information in annual reports
- Explain and apply other changes to the auditor’s report for listed companies, including:
o naming of the audit engagement partner
o the exception for ‘significant personal security threat’
Audience
This course is suitable for auditors and public practitioners.
