29 July 2020, 2pm London time (BST)

The speed by which the business environment has changed as a response to the Coronavirus outbreak has been staggering, and audit is not immune to these changes. 

Join us for this webinar on Wednesday 29 July 
at 2 PM London Time BST
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Join us for this webinar on Wednesday 29 July at 2 PM London Time BST when Jo Parker, Technical Consultant at Mercia Group, MGI Worldwide’s Global Quality Partner, will be talking about Auditing under COVID-19, the common issues and tips for Auditors across our global accounting network worldwide.  This webinar is open to all MGI Worldwide and CPAAI members so please share this with others in your firm.

About this webinar

From a theoretical perspective, the Coronavirus outbreak could be said to have had little impact on the audit process. The regulatory framework and the requirements of International Standards on Auditing are unchanged, and the procedures that auditors are required to perform and the standard of work that is expected are no different than before.  In practice, though the work that auditors will have to undertake in order to be able to demonstrate compliance with the ISAs will change significantly, and at times present new challenges and considerable difficulty for the auditor. Regulators may be sympathetic to these issues but have stressed the need for the audit process to remain robust and true to the principles outlined in the ISAs.

Common issues and tips

Many of the problems that will be faced will be more practical in nature due to the difficulties operating under the current social distancing restrictions present, with an inability to visit clients and to be able to perform procedures that under normal circumstances would not present any problems. 

Even when the restrictions are lifted though, there will continue to be new challenges for the auditor with many businesses fundamentally changed as a consequence of the Coronavirus outbreak. 

This webinar examines the key technical and practical issues that auditors will need to consider when performing audit engagements and the need to reflect the implications that arise due to the Coronavirus outbreak.

In this webinar will look at impacts on:

• ISQC 1 and Code of Ethics requirements
• Planning the audit
• Fraud
• Group audits
• Going concern
• Audit opinions
• Where to get more help”

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For more information please contact Paul Winder at paul@mgiukarea.com or Maxine Brock at maxine.brock@mgiworld.com