Tag Archives: audit

Planning for Remote Audits in Covid-19 Times

Come 31 December 2020, many external auditors will be planning for the audit busy season and the issue of remote stocktakes (more on this in a future blog) and carrying out remote audits. 31 December is the most common company year end in Ireland. Because the pandemic struck after 31 December 2019, the Coronavirus (Covid-19)… Read More


Engagement Letter Checklist

Our blog two weeks ago highlighted the main pieces of legislation that go into an audit letter of engagement, while last week we looked at the fundamentals of tax engagement letters. This week we show you a checklist that covers worthwhile clauses for all types of letters of engagement: Exclusion clause. Because tax services can… Read More


Tax Engagement Letter Fundamentals

Tax engagement letter fundamentals Here we outline the fundamentals of good tax engagement letter content and suggest provisions that will help minimize legal liability faced by accountants in practice. The advice here will work for most other types of engagement letter also. Tightening the language used in letters of engagement will help limit your professional… Read More


Are Your Engagement Letters Up To Date?

Are your engagement letters up to date? Once upon a time it was possible to have the same client engagement letter in place for several years, without too much upset. However, the pace of change in the various pieces of overlapping legislation (much of it of a whistleblowing nature) that impact on engagement letters, seems… Read More


Audit Quality Control Logo

Latest Manual for Audit Quality Control

Does your ISQC1 Audit Quality Control Manual deal with: • Root Cause Analysis(best practice developments following cold file reviews) and • Section 934 I (3) of the Companies Act, 2014 – as introduced by the Companies (Statutory Audits) Act, 2018 from 21 September 2018, dealing with reporting systems within audit firms to allow audit personnel… Read More


Do you have a stocktake to attend today?

Following the announcement by the Taoiseach, on the 27th March, all non-essential workers must stay at home and only travel for work if absolutely necessary. This means disruption to 31st March stocktake attendance by auditors. It’s unclear how popular a 31st March period end is in Ireland. It tends to be more popular in the… Read More


The future of audit

In a rare speech, Sir Donald Brydon, chair of the Future of Audit in the UK, told a packed conference room that he is a little troubled at the current mood that ‘reaches for a shotgun aimed at auditors every time there is a corporate problem’.  Speaking at the first ICAEW Audit & Assurance Faculty… Read More


Audit Update

Tax advocacy is now banned for all audit clients. True or False?  The answer is ‘False’. To hear why this is false and find out what exactly are the rules surrounding an auditor helping an audit client argue a case with the Revenue Commissioners, go see our online webinar entitled Audit Update where you may… Read More


Auditing of Charities

Charity audits are high risk, as has been shown in the recent news story about the disciplinary action against the auditors to the former charity Console. Auditors have always been expected to have relevant knowledge corresponding to the task in hand and it’s important to have a clear understanding of the key risks involved in… Read More


Preparing for an Audit Quality Review Visit

As estate agents will tell you, the three most important things to do with selling your property are ‘location, location, location.’ Well, the same applies to preparing for a Quality Review visit from your professional body. The three P’s to a successful Quality Review visit are Preparation, Preparation, Preparation. The main problem area that underpins… Read More