Includes guidance on imminent quality control requirements for audit firms

As part of the audit approach, auditors need to understand the components of Audit Risk.  This briefing updates the auditor on the new ISAs, grouped together as "The Risk Standards".

These are:

ISA 315 -   Understanding the Entity and its Environment and Assessing the 
                Risks of Misstatements
ISA 330 -   The Auditors Procedures in Response to Assessed Risks
ISA 500 -   Revised - Audit Evidence

As part of this briefing, the revised ISA 240 (The Auditor’s Responsibility to Consider Fraud and Error) will also be presented.

In addition, this briefing covers the new International Standard on Quality Control (UK and Ireland). This is particularly timely as firms are expected to have suitable quality control procedures in place by 15^th June 2005.

What will you gain?
An understanding of the implications of the new International Auditing Standards for the auditor.  An introduction to the new approach required by these standards, including the revised and enhanced risk standards and assessment of fraud.

Who should attend?
Audit partners and staff engaged in audits for all types of client (large, small, listed, unlisted).

Speaker
Umesh Rana, CPA (USA).  Umesh has over 20 years of diversified business and international experience with the Big 4 Accounting firms in the UK & USA. His last position was Senior Audit Manager with Price Waterhouse Coopers in the US.