Independent Review into the quality and effectiveness of audit - call for views
We welcome Sir Donald Brydon’s independent review into the quality and effectiveness of audit. It is vital that the UK economy has efficient and effective capital markets and there is confidence in the corporate framework through greater transparency which works in the context of a global economy.
Technical factsheet: guidance on access to information by successor auditors
Guidance on the procedure expected to be followed by ACCA members and member firms whenever the office of statutory auditor changes (and access to information held by the predecessor auditor) is sought.
The impact of Digital and Artificial Intelligence on audit and finance professionals: harnessing the opportunities of disruptive technologies
To address the myths and fears around AI and the role of humans in the value chain, ACCA and EY held a lively roundtable on how to harness the opportunities offered by these new disruptive technologies.
Key audit matters: unlocking the secrets of the audit
This report reviews the first-year implementation of the IAASB's revised auditor reporting standards. It finds that these standards not only provide better information for investors, but also encourage improvements throughout the financial reporting chain.
This report sets out the factors that contribute to a quality audit and identifies how these factors are interrelated. It calls for a debate on how to resolve these tensions and maximise audit quality.
ACCA individual and ACCA CA ANZ joint responses to Monitoring Group consultation
ACCA response and ACCA-CAANZ joint response to the Monitoring Group public consultation: Strengthening the Governance and Oversight of the International Audit-Related Standard-Setting Boards in the Public Interest.
This report sets out ACCA's views on the characteristics that make for good corporate reporting and on some key general issues that also affect it, including the need for global standards, for a mixture of fair value and historical cost, prudence and the need for reporting to cover more than the financial statements.
Proposed International Standard on Auditing 540 (Revised)
Joint submission by Chartered Accountants Australia and New Zealand and the Association of Chartered Certified Accountants, responding to an exposure draft issued for public consultation by the International Auditing and Assurance Standards Board (IAASB) - on Proposed International Standard on Auditing 540 (Revised), Auditing Accounting Estimates and Related Disclosures
ACCA response to FRC Proposals to make minor revisions to ISA UK 330 and Withdraw Practice Note 16
ACCA's response to FRC's proposals to: Make minor revisions to ISA (UK) 330 (Revised June 2016) The Auditor’s Responses to Assessed Risks and ISA (UK) 505 External Confirmations; and Withdraw Practice Note 16 – Bank Reports for Audit Purposes in the United Kingdom
Banishing bias? Audit, objectivity and the value of professional scepticism
This report explores the importance of cognitive biases to the audit process. It explains how these biases are central to improving the exercise of professional scepticism and to understanding the fundamental ethical principle of objectivity.
Exploring the Demand for Agreed-Upon Procedures Engagements
ACCA welcomes the opportunity to comment on the discussion paper issued by the International Auditing and Assurance Standards Board (IAASB) on Exploring the Demand for Agreed-Upon Procedures Engagements and Other Services and the Implications for the IAASB’s International Standards.
Exploring the Growing Use of Technology in the Audit
ACCA comments on the consultation paper issued by the International Auditing and Assurance Standards Board (IAASB) on Exploring the Growing Use of Technology in the Audit, with a focus on Data Analytics.
International Education Standard 8, Professional Competence for Engagement Partners Responsible for Audits of Financial Statements (Revised) is aimed at IFAC bodies but should also be considered by firms and engagement partners.
The new Code has been published and applies to accounting periods beginning on or after 1 October 2014 for all companies with a premium listing of equity shares regardless of whether they are incorporated in the UK or elsewhere.
Academies Accounts Direction 2013 to 2014 is a reference pack for academy trusts to use when preparing their annual reports and financial statements for accounting periods ending on 31 August 2014. It also supports auditors with their audit of the financial statements.
The Financial Reporting Council (FRC) has published a statement to confirm that the requirement to present a true and fair view remains of fundamental importance in IFRS and UK GAAP, including the new UK standards FRS 100 -103.
The drivers of audit quality: auditors’ perceptions
This report summarises the findings of an online survey conducted by ACCA and Macquarie University into auditors’ perceptions about the drivers of audit quality. It forms part of a three-part project investigating perceptions of CFOs, auditors and company director’s.
The drivers of audit quality: views from Australian CFOs
This report summarises the findings of an online survey conducted by ACCA and Macquarie University into the views of Australian CFOs about the drivers of audit quality. It forms part of a three-part project investigating perceptions of CFOs, auditors and company director’s.