ISA 220 – Quality Management for an Audit of Financial Statements

ISA220

60.00

  • 2 CPD Hours

The seminar intends to cover the basic accounting principles and concepts through illustrations and practical examples. ISA 220 (Revised) deals with the engagement partner and engagement team’s responsibilities for quality management for an audit of financial statements. The revised standard modernizes the approach to quality management and requires the engagement partner and engagement team to be proactive in managing and achieving quality.

The seminar includes a coverage of the revised principles and requirements of ISA 220 on Quality Management of Audit of Financial statements and their practical effect on the audit work. On completion of this seminar participants should be able to:
• Encourage proactive management of quality at the engagement level.
• Keep the standard fit for purpose in a wide range of circumstances and in a complex environment.
• Emphasize the importance of professional skepticism and enhance the documentation of the auditor’s judgments.

Auditors who are involved in the preparation and reviews of audit files of engagements of various sizes and complexity.

Instructor

Margarita Kouloumbri

Margarita Kouloumbri holds the position of the Principal in a private company. She has a BA (Hons) in Accounting and Finance from the University of Lancaster and MSc in Finance from the University of Strathclyde. She is a member of the Institute of Chartered Accountants in England & Wales (ICAEW). Margarita specializes in International Financial Reporting Standards and International Standards on Auditing. Margarita has gained extensive experience in the audit and Taxation of local and international groups of companies operating in various types of industries. She has many years of experience in a Big Four Firm. She is also a senior tutor for the ICAEW and ACCA examinations specializing in Financial Reporting, Accounting, Audit and Financial Management.

Outline

  • Clarifying the engagement partner responsibilities
  • Professional sceptism, resources and scalability
  • Questions and Answers
  • Acceptance and Continuance of Client Relationships and Audit Engagement
  • Engagement Resources
  • Engagement Performance
  • Questions and Answers

What’s included

  • Pre-Recorded Videos

  • Short Quizzes

  • Seminar notes

  • 24/7 access to our online platform

  • Certificate of Completion