In May 2021, the Financial Reporting Council (FRC) issued a revised version of the fraud auditing standard, ISA (UK) 240, effective for periods beginning on or after 15 December 2021.

The revised standard was designed to clarify auditors' obligations, enhance the risk assessment, and set out clearer procedural requirements.

Join Jenny Reed, Head of Audit and Assurance, Baker Tilly who will remind members of key elements of the revised standard, look at potential indicators of fraud and provide practical hints and tips when assessing and responding to the risk of fraud for small and medium sized audit firms.

The webinar will cover:

• The fraud risk assessment, including what to look for when performing preliminary analytical reviews.
• Consideration of fraud risk factors and circumstances which could indicate the possibility of fraud.
• The auditor's response to fraud risks.
• Examples of fraud case studies and lessons learned.

Watch the recording and download the slides.

First broadcast 31 March 2022

ICAEW will not be liable for any reliance you place on the information in this presentation. You should seek independent advice.