Audit & Assurance

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Audit & 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. High-quality international standards increase the comparability, consistency, clarity, credibility, and transparency of financial information. And, high-quality financial information, in turn, increases the stability of the global financial infrastructure. Read More

 

Agreed-Upon Procedure Engagements—Help Shape the IAASB’s Standard

by Christopher Arnold, Technical Manager, SME & SMP Affairs, IFAC and Jasper van den Hout, Technical Manager, International Auditing and Assurance Standards Board | April 15, 2015 |

The IAASB is in an information-gathering phase of its project on agreed-upon procedures, which includes a revision of ISRS 4400, Engagements to Perform Agreed-Upon Procedures Regarding Financial Information, and consideration of more holistic issues involving agreed-upon procedures.  Read More

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SME Acquisitions and the Added Value of a Registered Auditor
by Daniel Kroes, President, of the Belgian institute of Registered Auditors; Audit Partner, Deloitte Bedrijfsrevisoren | March 23, 2015 |

Hiring a registered auditor when acquiring an SME can help to reduce obstacles and increase the success of the acquisition, according to recent insights from the Belgian Institute of Registered Auditors (IBR-IRE) Congress, “Acquisitions (Transfer and Takeover) of SMEs: Approach, Risks, and Valuation.”  Read More

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Quality Control in Accounting Practices—What Are the Specific Issues?
by Christopher Arnold, Technical Manager SME & SMP Affairs, IFAC and Sara Ashton, Senior Technical Manager, IAASB | March 19, 2015 |

The IAASB has issued a survey to inform the scoping of its quality control project, specifically with respect to issues encountered by small- and medium-sized practices (SMPs) in complying with the requirements of ISQC 1 and ISA 220. Read More

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Why Bother with Assurance?
by Henry Irving, Head of Audit and Assurance Faculty, ICAEW | February 26, 2015 |

As audit thresholds for statutory audits around the world continue to rise, some companies will still choose voluntarily to be audited, but for those that don’t, the profession needs to be ready to offer valuable alternative assurance services. Read More

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ISRS 4410: The Standard for Today’s Compilation Engagements
by Phil Cowperthwaite, Former Member, IFAC SMP Committee | January 22, 2015 | 1

With the growing demand for non-assurance services, compilation engagements conducted in compliance with the revised International Standard on Related Services (ISRS) 4410 provide new opportunities for professional accountants in practice and their clients.  Read More

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