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Remote auditing - administration
The spread of the coronavirus pandemic (COVID-19) resulted in the rapid adoption of remote working, including remote auditing techniques. This extract from the Audit and Assurance Faculty Know-How guide 'Remote auditing in practice' focuses on audit administration.
All audits require the agreement of engagement terms. These may require amendment if there are changes to the basis of fee calculations, the audit timetable or, going forward, if auditors believe that they will need to access accounting records in a different way. The entity needs to acknowledge changes to engagement terms.
Scanned, electronic and other digital signatures are dealt with in ICAEW's Technical Release 09/15BL 'Managing the professional liability of accountants' and the Audit and Assurance Faculty’s Know-How article COVID-19 – An introduction to using electronic signatures to sign an audit report. The latter notes the overriding importance of demonstrating the intention of the parties involved.