AUDIT AND ASSURANCE
Accounting firms offer a wide range of professional services to their clients, including audit, review, other assurance, and related services. These services are regulated, with many jurisdictions requiring compliance with international standards or national requirements that have been based on international ones. The type of service delivered depends both on the statutory requirements and what will provide the most value to the client and users of the financial information.
An independent audit is an important service for providing users with assurance on entities’ historical financial statements. It is widely acknowledged that high-quality audits directly benefit businesses and indirectly benefit the economy and society in general. Company audits can have a significant influence on investment decisions, are integral to investor confidence, and are considered to be vital to the effective functioning of capital markets. The audit is also a highly valued service with the insights provided often making a real difference to entities’ operations, risk management, and internal controls. To read more click here.
UPDATE AND GUIDANCE ON THE (IAS 21 AND IAS 29)
IAASB’S QUALITY MANAGEMENT STANDARDS FIRST-TIME IMPLEMENTATION GUIDE
NEW IAASB QUALITY MANAGEMENT STANDARDS
ICAZ guidance on 2020 Audit Opinions
ICAZ guidance on Code of Ethics and other Professional Conduct Requirements
ICAZ guidance on consolidation of subsidiary with a non-hyperinflationary
PAAB Secretary's letter to CEOs, CFOs and Audit Committee
FRC guidance for auditors arising from the coronavirus pandemic
FRC UK Feb 2020 Coronavirus Release
ICAZ AUDIT ALERT ON IMPLICATIONS OF THE PRESIDENT’S PRONOUNCEMENTS
Leading practices for audit committees click here