Audit and Assurance

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The story of a business, and the way it is told, can change minds and decisions – whether it’s a regulator’s decision to get involved, an investor’s decision to buy shares, a customer’s decision to renew an orde...
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The Three Lines of Defence model (TLD) is a way to understand the mechanisms that an organisation has to “defend” itself against all manner of risks. By “risks” we mean anything that may prevent the organisation from continuing to provide optimal va...

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Small businesses in the UK are exempt from audit, and today the Department for Business, Innovation and Skills (BIS) confirmed that this includes businesses newly defined as small following changes to the accounting thresholds.

In a written stateme...

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If the cost of Christmas was more expensive than you planned for, don’t worry. Throughout the first half of 2016 analysts are predicting that the cost of goods on the high street is expected to drop further, partly fuelled by continuing falls in oil...

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A new Milestone along the Journey to assurance over the whole of the annual report has just been published by ICAEW. Why is this important?

It is important because, at present, only the financial statements part of the annual return is independentl...

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Application process now open

The Civil Aviation Authority (CAA) has approved ICAEW’s Licensed Practice scheme as an ATOL Reporting Accountants’ scheme. Your firm can now apply to ICAEW to become an ICAEW Licensed Practice.

Acting for ATOL licence ...

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The FRC has issued, for consultation, a revised Ethical Standard (the ‘FRC ES’).  It is intended to replace the Auditing Practices Board’s (APB) Ethical Standards for Auditors 1 to 5. 

Whilst the current standards adopt a threats and safeguards a...
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Time is running out . .

by Steve Truman on 01.09.2015 16:42

The Audit and Assurance Faculty’s first Google Hangout will take place on 3 September from 12.30pm to 1pm. Chris Cantwell will be joined by Gill Spaul and Geoff Swales for a discussion on the potential content, uses and value of Audit Quality Indica...

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Save the date!

The faculty is excited about doing a google hangout for the first time. Chris Cantwell will be joined by Gill Spaul and Geoff Swales for a discussion on the potential content, uses and value of AQIs in areas such as audit process, au...

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WHAT ARE AREs?

by Steve Truman on 16.05.2015 17:27

Many chartered accountants – possibly even some with audit qualifications – might well look at clients with blank expressions of surprise if they were asked to perform an Assurance Review Engagement (ARE).   This unfortunate si...